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US HISTORY: "Big Business" - HISTORICAL EVENTS" Part 2

AB
economies of scalesays as the number of items produced increases, the cost decreases
Ellis Islandwhere immigrants entered the United States - they were checked over BEFORE being allowed in the country
factory town1 or 2 factories provide jobs for most of the people in the town - the town literally revolves around the factory
Ford Motor Company1st automobile company in the U.S. - 1st "mass producer" of cars
Gilded Age (1877-1900)time of BIG BUSINESS - an age of inventions
"Golden Spike"the last spike - piece of metal - which linked the Transcontinental Railroad together
graftusing your position to get anything you can
Granger CasesSupreme Court Cases - dealt with regulating/controlling RailRoads vs Midwest farmers
Great Chicago Fire of 1871showed how dangerous inner city living had become - safety hazards - 250 people died/ 100,000 homeless
Haymarket Riots of 1896farming company in Chicago - workers wanted an 8 hr day, scabs hired (non-union/other people) hired to take the place of strikers, police called to end the strike
Homestead Strike of 1892steel strike - wages cut, shootouts, police called - owner, Andrew Carnegie: stayed above it - hands off
horizontal consolidationcontrol of all of the SAME type of business/product (raw iron, or farms producing cotton)
ICCit regulated trade & business - Interstate Commerce Commission
incandescent light bulbthe 1st light bulb - difficult to pull off - so they would last a long time
Industrial Revolutiona time of factories, manufacturing, jobs & great advances in society
In RE DebsSupreme Court Case: union against the Railroads - went on strike over 30% wage reduction
Industrial Workers of the Worlda union for ALL workers - the exact job you do doesn't matter
industrializationwhen factories and companies are built in towns - jobs are created, people move to the cities for the jobs, housing- is tight/apartments/tenements
InterState Commerce Act of 1887a Federal Law which regulated/controlled business & trade
IWWan abbreviation for Industrial Workers of the World
Knights of Laborearly labor union - farmers, factory workers: wanted 8 hr day, equal pay, NO child labor
Lowell/Waltham Systemeverything a company needed to produce a product/item was located in 1 place /factory
merger2 or more companies/stores becoming JUST 1 company
Model Tthe first car - made in late 1800s, by 1910 10,000 were produced - allowed people to live outside of cities, move to the suburbs
monopoly1 company controls all of 1 type of product - they have the market - they be the ONLY producer of the item
Morse Codea series of short & long bursts - used to form an alphabet - allowed people to transmit msgs over distance
MugwumpsDemocrats who voted for Republican President Grover Cleveland
Munn v. IllinoisSupreme Court Case: states can regulate trade within their state borders
partnership2 or more people run/own a company - share the profits
passagemoney people paid to travel to the United States aboard a ship


Jim Joyce

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