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SLANG: Unit 1
Gilded Age: Industrialization, Urbanization & Labor
| Term | Definition |
|---|---|
| Tariff | tax on imported goods; in general, high tariffs were supported by Northern industrialists who wanted to protect American industry, while lower tariffs were supported by farmers and consumers |
| Subsidy | financial incentives, in the form of tax cuts and/or payments, provided by the federal government to businesses or individuals |
| Laissez Faire | literally let it be; meaning that government should NOT interfere in business practices; prevalent idea of the late 19th century and the first several decades of the 20th century; business owners support the idea of laissez faire |
| Monopoly | when one firm/business controls a market, and, thus, controls the prices charged for goods in that market |
| Trust | a group of businesses within an industry controlled by a board of trustees, generally establishing a monopoly |
| Tenements | poor multi family apartment buildings in urban centers; most new immigrants were forced to live in tenements in crowded, unsanitary conditions; landlords were not bound by building codes |
| Arbitration | when a third party is called in to make a binding decision between two groups |
| Vertical Integration | when businesses involved in different levels of production are merged into one business, greatly reducing costs |
| Horizontal Integration | when businesses that produce the same products merge into one business, removing competition (sometimes creating a monopoly) |
| Sherman Antitrust Act | 1890 legislation that outlawed trusts and other restraints of trade; often used against labor unions by keeping them from protesting or striking |
| John D. Rockefeller | businessman of the late 19th century who used horizontal integration to build his oil empire, Standard Oil Company |
| Andrew Carnegie | immigrated from Scotland to the United States; used vertical integration to build his steel empire, Carnegie Steel |
| Alexander G. Bell | inventor of the late 19th century; most famous for inventing the telephone; Atlantic Telephone and Telegraph |
| Thomas Edison | inventor of the 19th century; most famous for perfecting the light bulb, motion picture projector, and various other products; General Electric |
| Social Darwinism | theory developed in the 19th century by which individuals and societies believed that people compete for survival and success in life; coined by Herbert Spencer; based on theories of Charles Darwin; “survival of the fittest” |
| Knights of Labor | 1st national labor union; founded by Uriah Stephens, and led by Terrence Powderly; open membership; key strike at Haymarket Square |
| Terrence Powderly | early union leader; Knights of Labor |
| IWW | Industrial Workers of the World; radical labor union; also known as Wobblies |
| Bill Haywood | Leader of the IWW |
| American Federation of Labor | 1881; combination of trade/craft unions; advocated collective bargaining |
| Samuel Gompers | president of the American Federation of Labor; advocated cooperation |
| Collective Bargaining | process by which unions and employers negotiate terms of employment in a written agreement that both promise to enforce |
| ARU | American Railway Union; founded by Eugene V. Debs; created in a short lived attempt to bring all railroad workers under the umbrella of one organization; key strike at Pullman |
| Eugene V. Debs | president and organizer of the ARU; later, becomes an active leader in the socialist movement |
| Settlement Houses | a welfare agency for needy families, combated juvenile delinquency, and assisted recent immigrants in learning the English language and in becoming citizens. |
| Jane Addams | social advocate and founder of Hull House Settlement in Chicago. |
| Chinese Exclusion Act | 1882 legislation passed in response to complaints of workers on the West Coast that competition from Chinese immigrants was driving down wages and threatening white racial purity; ended Chinese immigration |
| Ellis Island | immigration processing center in New York harbor; immigrants from Europe were mainly processed at Ellis Island |
| Angel Island | immigration processing center on the West Coast; immigrants from Asia were primarily processed at Angel Island; located in San Francisco Bay |
| Robber Barons | negative term describing many of the industrial leaders of the late 19th century |
| Captains of Industry | industrial leaders who used innovative practices to build their industries |
| Capitalism | economic system (ie: United States) in which the means of production are owned by individuals and firms, as opposed to systems like socialism, in which the government owns the means of production in many industries |
Created by:
J Paola
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