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US HISTORY: "Big Business" - HISTORICAL EVENTS" Part 3

AB
Patent & Trademark Officeyou invent something & want to protect people from stealing/taking credit for your idea - you go to this place so it doesn't happen
Pendleton Civil Service Act of 1883ended the Spoils System - because of this act it wasn't WHO you knew, but WHAT you knew - usually you had to take a test & compete for scores against everyone else
proletariatworkers
Pullman Strike of 1894Railroad cars (with beds were made in 1 town) - railroad strike: wage cuts, layoffs, BUT prices stayed at the same level
Railroad Strike of 1877railroad strike over wage cuts, & layoffs
layoffswhen people lose their jobs, yet it wasn't their fault
wageshow much money you earn
Progressive Movementreformers - people who wanted to correct the abuses of business against workers (working conditions, child labor, hours)
Robber Baronspeople who got rich from owning a HUGE business - but did whatever it took & whoever they hurt didn't matter
Sherman Anti-Trust Actoutlawed companies combining into 1 & thus controlling the market
single proprietorshipa company is owned by 1 person: they can keep profits, but also could lose everything if it went under
Social Darwinism"survival of the fittest"
socialismgovernment controls key industries/resources such as hospitals, fire departments, water companies, post office, electric companies: but people pay high taxes
Spoils Systemyou get a job based on WHO you know, NOT what you know
Standard Oilone of the first MAJOR oil CORPORATIONS - late 1800s
Statue of Libertygiven to the United States by France, it was seen by immigrants coming into New York City - it meant that they had ARRIVED in America
steeragea large open area in ships where people/immigrants slept when on ships crossing the Atlantic Ocean
stockpeople buy them to invest in companies - companies sell them to make money they can use to develop the company
Tammany Halla NYC political machine
technological revolutionlate 1800s, possibly also late 1900s - a time of many inventions - made life easier: the refrigerator, the car
the Wobbliesa nickname for UNskilled workers
Transcontinental Railroadit was built in the 1860s - it connected the Midwest (Nebraska) to the West Coast (Sacramento, California)
Triangle Shirtwaist Factory Fire (1911)it proved how dangerous working conditions were: people died; States started regulating hours & types of work allowed by people
regulateto control, to manage
trusta combination of companies - results in INCREASE in profits, reduces competition
Tweed Ringa political machine in NYC in the late 1890s
Union Pacific Railroadit crossed the Rocky Mountains
urbanizationpeople moving to cities, apartments/tenements springing up/ factories also being built
vertical consolidationwhen 1 company controls all of the phases of a product - from raw materials to factories to selling it in stores
Wabash, St. Louis, & Pacific v. IllinoisSupreme Court case: Federal/US Government started regulating RR rates - how much charge per mile/distance
Western Unionthe first telegraph company
Whiskey Fraud RingSt. Louis liquor company + Treasury Officials cheat the government out of taxes
yellow dog contractspeople/workers are forced to sign a paper saying they won't join a Union
Adam Smithhe wrote the "Wealth of Nations" - said Government should keep its hands off business, business can regulate itself
laissez-faireit says government should LEAVE business alone - business will regualate itself/themselves


Jim Joyce

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