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Flashcards in Ch 17 Deck (26)
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1

Alexander Graham Bell

-taught deaf students at Boston University
-1874= discovered that if a person were to speak into a vibrating set of reeds, it created a fluctuating current that could, at the other end of an electronic wire, be turned back into the same sound through another set of tuned reeds
-demonstrated it by calling his assistant, Thomas Watson
-showed it at MIT and the the World’s Fair
-replaced the telegraph; became a necessity

2

Thomas Edison

-invented Edison Universal Stock Printer
-produced the diplex and quadruplex
-1876= established a research lab at Menlo Park, NJ→ 1,000 patents to his name, becoming the most productive American investor of all time
-played with ways to record human voice and music→ 1878= demonstrated phonograph at National Academy of Science in DC and the White House
-electric bulb

3

Henry Ford

-revolutionized the production of automobiles
-assembly line
-took Eli Whitney’s idea for interchangeable parts for guns and applied it to cars
-boring work
-Model T
-made cars affordable
-nation needed more oil for gasoline to power the rapidly producing cars
-highway construction; automobile repairs
-Walter Chrysler and General Motors = creating automobile industry in Detroit

4

Jay Cooke

-most powerful baker at the end of the civil war but almost wrecked the nation’s economy
-financed Northern Pacific Railroad→ told European investors that it would connect Duluth, Minnesota to the Pacific coast, connecting the world’s breadbasket to shipping across the pacific and across the Atlantic
-lots of investments but there were lots of railroads and few made profits

5

Panic of 1873

-major economic downturn, launched when Jay Cooke, the country’s leading financer, went bankrupt during which thousands lost jobs and the country took years to recover
-Stock exchange closed for 10 days; banks collapsed; railroad construction stopped
-depression demonstrated the boom and bust cycle of the new economy and the degree to which railroads and banking connected all parts of the nation’s finance

6

Cornelius Vanderbilt

-benefited from Panic of 1873
- created a steamboat empire after Fulton created the steam engine
-steamers travelled to Boston, New Orleans, and Nicaragua during the CA gold rush
-controlling transit to CA was more profitable than seeking gold there
-after Civil War= steamboats to railroads (bought them and created new ways to manage them)

7

Daniel Drew, Jay Gould, Jim Fisk

-corporate pirates; extracted wealth from a company
-Drew herded cattle from farms to slaughterhouses
-technique= feed cattle salt and when reaching the slaughter houses, give them all the water they wanted to look plump→ get a good price
-all teamed up to corner the nation’s gold supply
-Grant discovered this→ ordered the gov to sell $4 mill in gold

8

John D. Rockefeller

- discovered new ways to make money from oil
-libraries

9

horizontal integration

-the merger of competitors in the same industry), or in cases like Standard Oil where nearly all of the industry was integrated, a horizontal monopoly

10

Andrew Carnegie

- started off working in a textile mill, then quickly moved up and became the personal assistant to the division superintendent of the Pennsylvania Railroad, where he learned the inner workings of American industry
-He set out to dominate the field; found ways to track and cut costs, replaced wood buildings with iron, developed an assembly line approach, and constantly updated and replaced equipment.
-low wages

11

vertical integration

-controlling all means of steel production from raw materials to sales

12

John Pierpont Morgan

-banker
-In the financial chaos of the Civil War, Morgan launched J.P. Morgan & Co.
-he made great profits during the war
-Working with European banks, he helped finance the transcontinental railroad in the U.S. and Suez canal in the Middle East (both completed in 1869)
-he picked up the American company after the collapse of Jay Cooke & Co had launched the Panic of 1873
-saved the US (gave $65 mill in gold in return for 30 yr gov bonds)

13

Panic of 1893

-In May of 1893, the National Cordage Company, known as the rope trust, which was producing far more rope than the market demanded and issuing too many promissory notes, went bankrupt, launching a major drop in stock prices among related businesses
-In the ensuing depression, a lot of the major railroads went bankrupt
-lower class felt it more
-Methodist, Baptist, and Presbyterian farmers were in the same boat, as well as factory workers and members of rising middle class who lost their jobs and hopes
-As European investors watched the collapse of the U.S. economy, they started withdrawing gold held in U.S. banks
-almost bankrupted the US

14

middle class

- level of comfort and respectability
-Those in the urban middle class were redesigning their private homes and expectations, particularly for city buildings and services that supported their emerging tastes and desires
-department stores

15

Gilded Age 1876-1910

-post civil war era
-refers to the shallow display and worship of wealth characteristic of the late 1800s
-wealth and poverty

16

Daniel Burnham

- the leading voice of what came to be known as the City Beautiful movement, designed public buildings in a classical style that showed a permanence and beauty that this emerging class expected
-Boston Public Library
-new building for library of congress

17

urban planners

-Louis Sullivan
-Frederick Law Olmsted (Central Park)
- found ways to make cities more livable for the growing middle class or to help the middle class to escape what they found difficult to live with.
-bring pure water (prevent cholera)
-cities= cleaner, brighter, faster paced

18

Gilded Age Religion

-more religious activity
-Mostly Methodists, Baptists, Presbyterians, Congregationalists, and Episcopalians tripled their membership
-more individualized and optimistic
-Dwight L. Moody, the great revivalist represented these times
-hymns by Ira Sankey (individualistic faith; focus is on divine comfort and love far more than on sin, divine judgement, or social change)

19

Stalwarts (party)

-heirs of the antislavery wing of the party
a faction of the party in the 1870s and 1880s who wanted the party to stay true to its earlier support for Reconstruction in the South and who were less connected to the emerging big-business interests than others- and the others who thought they should forget slavery and focus on the growing prosperity

20

missionaries

-launched China Inland Mission to convert China
-John R. Mott - organized the Student Volunteer Movement
-missionaries brought western values, a respect for human rights (esp women’s rights), but also commercialism interests (like CHANGE AND BE MORE LIKE AMERICA)
-missionaries were quickly followed by merchants and industrialists
-solution - to find foreign markets to be sure that American products were sold all over the world, bringing new income to American producers

21

Pogroms

-anti-Jewish attacks that were common in Russia, they were tolerated and actively encouraged by the Russian government and the Russian Orthodox church

22

Chinese Exclusion Act,

-federal legislation that suspended Chinese immigration, limited civil rights of resident Chinese, and forbade their naturalization
-people in CA and other areas in the West were threatened by the Chinese who increased competition of jobs or mining claims

23

“Melting pot”

-US
-where immigrants would quickly lose their culture and language and “melt” into being just like other Americans

24

sweatshops

-small, poorly ventilated shops or apartments crammed with workers, often family members, who pieced together garments

25

1884 election

Garfield assassinated in 1881

Mudslinging campaign between James G. Blaine and Grover Cleveland(who won, but lost in 1888)

Grover Cleveland in 1892 became the first president to serve in non-consecutive terms.

26

Immigration

-Push-pull factors brought new immigrants after 1890: extreme poverty or persecution, pogroms, the Pale of Settlement in Russia, economic opportunities
-1880 – 1914: 4 million Italian immigrants, French Canadians, Mexicans
-Ellis Island and Angel Island
-Lower East Side of Manhattan: Jewish immigrants(garment industry)
-Italian communities in NYC, Chicago, Boston and Milwaukee
-French Canadians migrated to New England
-Mexican communities known as “barrios”
-Catholicism doubled in size from 1860 to 1900
-Chinese established laundries; the Japanese worked on sugarcane plantations in Hawaii