SG25 - Name_Section_Date Study Guide for Chapter 25 Industry Comes of Age 1865-1900 PART I Reviewing the Chapter A Checklist of Learning Objectives

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Name_____________________________________________________Section_______________________Date_______________________ Study Guide for Chapter 25 Industry Comes of Age, 1865-1900 PART I: Reviewing the Chapter A. Checklist of Learning Objectives After mastering, you should be able to 1. explain how the transcontinental railroad network provided the basis for the great post–Civil War industrial transformation. 2. identify the abuses in the railroad industry and discuss how these led to the first efforts at industrial regulation by the federal government. 3. 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. 4. discuss the growing class conflict caused by industrial growth and combination, and the early efforts to alleviate it. 5. explain why the South was generally excluded from the industrial development and fell into a “third world” economic dependency. 6. analyze the social changes brought by industrialization, particularly the altered position of working men and women. 7. explain the failures of the Knights of Labor and the modest success of the American Federation of Labor. B. Glossary To build your social science vocabulary, familiarize yourself with the following terms. 1. pool In business, an agreement to divide a given market in order to avoid competition. “The earliest form of combination was the ‘pool.’…” 2. rebate A return of a portion of the amount paid for goods or services. “Other rail barons granted secret rebates….” 3. free enterprise An economic system that permits unrestricted entrepreneurial business activity; capitalism. “Dedicated to free enterprise…, they cherished a traditionally keen pride in progress.” 4. 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.” “It heralded the arrival of a series of independent regulatory commissions in the next century….” 5. trust A combination of corporations, usually in the same industry, in which stockholders trade their stock to a central board in exchange for trust certificates. “He perfected a device for controlling bothersome rivals–the ‘trust.’” 1
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6. syndicate An association of financiers organized to carry out projects requiring very large amounts of capital. “His prescribed remedy was to… ensure future harmony by placing officers of his own banking syndicate on their various boards of directors.” 7. patrician Characterized by noble or highs social standing. “An arrogant class of ‘new rich’ was now elbowing aside the patrician families…” 8. plutocracy Government by the wealthy. “Plutocracy… took its stand firmly on the Con- stitution.” 9. third world The noncommunist and non-Western nations of the world, most of them formerly under colonial rule and still economically poor and dependent. “The net effect was to keep the
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This note was uploaded on 08/31/2010 for the course HIST 45213 taught by Professor Platt during the Spring '10 term at University of California, Berkeley.

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SG25 - Name_Section_Date Study Guide for Chapter 25 Industry Comes of Age 1865-1900 PART I Reviewing the Chapter A Checklist of Learning Objectives

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