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Chapter 26 vocab

AB
Leland StanfordEx-governor of California, part of the big four, financial backers of the central pacific railroad.
Collis P. HuntingtonHuntington & Hopkins supplies California prospectors with clothing, food, and equipment. Oneonta, New York, storekeeper Collis Potter Huntingtion, 28, has given up prospecting after one day and joined forces with Mark Hopkins, 36, who has founded the New England Trading and Mining Co. and came round Cape Horn to Sacramento with 26 men (each has put up $500 to capitalize the venture) and a year's supply of stores and equipment. Huntington & Hopkins will open an iron and hardware store at Sacramento in 1854.
James J. HillProbably the greatest railroad builder of all time, created the great northern railroad, go from Duluth to Seattle, believe prosperity of raildroad depend on prosperity of land, donate bulls to farmers and run agricultural trains through "hill country."
Cornelius Vanderbilt"commodore," already made millions in steam boating, turn to railroads, use steel rail, and implemented a standard gauge of track width.
Jay GouldGreedy, made money using stock watering of railroads.
Alexander Graham BellScottish-born American inventor of the telephone. The first demonstration of electrical transmission of speech by his apparatus took place in 1876. Bell also invented the audiometer, an early hearing aid, and improved the phonograph.
Thomas EdisonCreated an invention factory, invented incandescent light bulb, improved phonograph, etc.
Andrew CarnegieSteel king, "napoloeon of smokestacks," disliked monopolistic trusts, sold his heeling of steet to J.P. Morgan, got 400 million dollars, Carnegie spend the rest of his life donating money to worthy causes.
John D. RockefellerStandard oil company, created trust, merciless, Darwinism in industry-only strong survive, made large amounts of money by buying out competitors, integrating horizontally and vertically in the oil industry.
J. Pierpont Morgan"Jupiter" Morgan, banking genius, made millions, eventually bought out Carnegie's business.
Terrence V. PowderlyLed the Knights of Labor, knights stage a successful strike against Gould's Wabash railroad, and membership bloomed.
John P. AtgeldGovernor of Illionois, after Haymarket crisis, pardoned three of them, followed his conscience even though most didn't agree with his decision.
Samuel GompersBritish-born American labor leader who as president of the American Federation of Labor won higher wages, shorter hours, and greater freedom for union members.
land grantLand griven to the railroad companies made in broad belts, allowing railroad to select the best possible routes.
stock wateringProcess of railroad stock promoters grossly inflating their claims about a line's assets and selling stocks far in excess of the value.
poolAn agreement to divide the business in a given area and share the profits.
rebateMoney given back to companies that would transport their good on certain rail lines, much like a "kickback."
vertical integrationCombining into one organization all phases of manufacturing from mining to marketing.
horizontal integrationConsolidating with competitors to monopolize a given market.
trustStockholders in smaller oil companies assign their stock to the board of directors of standard oil, consolidated and concerted the operations of the previously competing enterprises.
interlocking directorateConsolidating rival enterprises, ensuring future harmony by placing officers of his own banks on their board of directors.
capital goodsConcentration on making goods such as rails for railroads.
plutocracyRule by the aristocracy.
injunctionA court order that stops an individual from carrying on business as usual; used by the government to stop unfair business practices.
Union Pacific RailroadRailroad westward from Omaha, built by Chinese laborers.
Central Pacific RailroadWent from California eastward, also used Chinese laborers, due to sierras, it di not cover as much ground as union pacific.
Bessemer ProcessA more efficient process of making steel.
Gospel of WealthBelief that God helped secure the new aristocracy their position in life.
William Graham SumnerProfessor who made money saying that new aristocracy product of natural selection.
New SouthTrying to industrialize but not working because northeast has them in "servitude," textile mills south get a bit of help but mixed blessing.
National Labor UnionOrganized 1866, get eight hour work day, main goal is social reform.
Haymarket RiotBloody, May 4, 1886, dynamite explosion kills several dozen people, make the Knights of Labor associated with it, but not really part of it.
American Federation of LaborOne of the first unions for skilled workers, elitists, run by Gompers.


Heather

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