Lead
John D. Rockefeller
Standard Oil.
Cornelius Vanderbilt
Trains.
Andrew Carnegie
Steel
J. P. Morgan
Banker/Business
Eugene V. Debs ran for the presidency for the fifth time in prison
True
Pullman was a monopolist of oil
False, trains.
The Pullman Strike was ended on the bases that it was illegal because it interfered with trade.
False, US Postal Service
Monopolies are legal
False, they are illegal.
What was Eugene V. Debs political party?
Socialist
Monopoly
A market in which a single seller dominates.
A philanthropist is...
A person who seeks to promote the welfare of others, especially by the generous donation of money to good causes.
Protective Tariffs:
Taxes that made imported goods cost more than those made in the United States.
Sherman Anti-Trust Act (1890)
Federal law aimed at stopping monopolies and trusts from engaging in unfair practices.
Interstate Commerce Act (1887)
Railroads often charged small farmers more to ship goods than large companies. States passed laws to stop this, but the Supreme Court ruled these laws were unconstitutional. Congress finally passed the Interstate Commerce Act that prohibited unfair practices by the railroads.
Laissez-Faire
A theory advocating minimal government interference in the economy
Social Darwinism
The belief held by some in the late nineteenth century that certain nations and races were superior to others and therefore destined to rule over them.