Unit 4 – Forging and Industrial Society
PERIOD 6: 1865 - 1898
Chapter 24 “Industry Comes of Age” (1865-1900)
(13th Edition Only)
The over-arching theme of Chapter 24 “Industry Comes of Age”is that America’s economy turns from agricultural and handiwork to industrial and machine work.
Learning Objectives – After reading this chapter you should be able to:
- …explain how the transcontinental railroad network provided the basis for the great post-Civil War industrial transformation.
- …identify the abuses in the railroad industry and discuss how these led to the first efforts at industrial regulation by the federal government.
- …describe how the economy came to be dominated by giant "trusts," such as those headed by Carnegie and Rockefeller in the steel and oil industries.
- …discuss the growing class conflict caused by industrial growth and combination, and the early efforts to alleviate it.
- …explain why the South was generally excluded from industrial development and fell into a "third world" economic dependency.
- …analyze the social changes brought by industrialization, particularly the altered position of working men and women.
- …explain the failures of the Knights of Labor and the modest success of the American Federation of Labor.
Identify the Historical Significance of the following –
- Leland Stanford
- Collis P. Huntington
- James J. Hill
- Cornelius Vanderbilt
- Jay Gould
- Alexander Graham Bell
- Thomas Edison
- Andrew Carnegie
- John D. Rockefeller
- J. Pierpont Morgan
- Terence V. Powderly
- John P. Altgeld
- Samuel Gompers
Define the Historical Significance of the following –
- land grant
- stock watering
- pool
- rebate
- vertical integration
- horizontal integration
- trust
- interlocking directorate
- capital goods
- plutocracy
- injunction
Describe the Historical Significance of the following –
- Union Pacific Railroad
- Central Pacific Railroad
- Grange
- Wabash case
- Bessemer Process
- United States Steel
- Gospel of Wealth
- William Graham Sumner
- New South
- yellow dog contract
- National Labor Union
- Haymarket Riot
- American Federation of Labor
See page 2 for Glossary
To build your social science vocabulary, familiarize yourself with the following terms.
- pool - In business, an agreement to divide a given market in order to avoid competition
- rebate - A return of a portion of the amount paid for goods or service
- free enterprise - an economic system that permits unrestricted entrepreneurial business activity; capitalism
- regulatory - commission In American government, any of the agencies established to control a special sphere of business or other activity; members are usually appointed by the president and confirmed by Congress
- trust - combination of corporations, usually in the same industry, in which stockholders trade their stock to a central board in exchange for trust certificates
- syndicate - an association of financiers organized to carry out projects requiring very large amounts of capital
- patrician - characterized by noble or high social standing
- plutocracy - government by the wealthy
- third world - the noncommunist and non-Western nations of the world, most of them formerly under colonial rule and still economically poor and dependent
- socialist - one who believes in the ownership and control of the major means of production by the whole community rather than by individuals or corporations
- radical - one who believes in fundamental change in the political, economic, or social system
- lockout - the refusal by an employer to allow employees to work unless they agree to his or her terms
- yellow dog contract - labor contract in which an employee must agree not to join a union as a condition of holding the job
- cooperative - an organization for producing, marketing, or consuming goods in which the members share the benefits
- anarchist - one who believes that formal, coercive government is wrong in principle