Vocab
The term that means having nearly or complete control of an industry. (also a popular board game)
Monopoly
Name two industries that benefited because of the railroads.
Iron, steel, mining, lumber, etc...
He made his fortune in the railroads.
Cornelius Vanderbilt
What is a sweatshop?
A crowded urban factory.
The first of the National Labor Unions.
National Labor Union
(NLU)
Secret agreements between railroad barons. Also, a place you might visit in the summer...
Pools
What is the measurement for standard gauge?
4foot
8.5 inches
He made his fortune in the oil industry.
John D. Rockefeller
Women primarily worked in what industry?
Textile
What does KOL stand for?
Knights of Labor
Stock
Describe the characteristics of a railroad baron. List at least 3.
Aggressive
Competitive
Ruthless
What was Vanderbilt's nickname?
The Commodore
What three things did labor unions most typically fight for?
Better Pay
Shorter hours
Better working conditions
Why were national labor unions needed?
Smaller unions did not have as much power. National unions would create a louder more powerful voice.
SPELL the term that is the use of money for the benefit of the community
P-H-I-L-A-N-T-H-R-O-P-Y
Railroads changed how we measure time by introducing time zones. List the time zones across the continental United States.
Eastern
Central
Mountain
Pacific
Name Rockefeller's oil company and the product they produced through refinement.
Standard Oil
Kerosene
What is an injunction, and how did it apply to labor unions?
It is a court order stopping something, and in this case it was used to stop strikes.
Give the who, the where and the what of the Haymarket Street Riot.
Labor union workers, Police, and the McCormick business.
Chicago
Give details of what happened
Explain how vertical integration and horizontal integration can be used to create a monopoly.
...
How were rebates offered by railroad companies good in the short term, but bad in the long term?
Rebates offered customers discounts on tickets. Smaller railroad companies couldn’t compete and would go out of business. Once the competition was gone the large RR company could charge whatever they wanted.
JP Morgan made his money in the banking industry, what does JP stand for?
John Pierpont
What was the Great Upheaval, and how did it benefit labor unions?
100,000 workers from the RR industry went on strike. They blocked trains from leaving the yards. Some even sabotaged the trains from working. While it didn’t accomplish much, it showed that if enough workers come together they have power against big business.
What is capitalism and how does it work?
Capitalism is an economic system where citizens own and run companies, not the government.
The companies compete with other companies for business.