Chapter 24 Terms

Chapter 24 Terms - Chapter 24 Terms 1. Pacific Railroad...

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Chapter 24 Terms 1. Pacific Railroad Act, 1862: for each mile of track constructed, the company was granted 20 square miles of land on either side of the track and a generous federal loan 2. Union Pacific Railroad: commissioned by Congress to thrust westward of Omaha, Nebraska, its building allowed insiders to reap illegal profits (Crédit Mobilier scandal) 3. Central Pacific Railroad: rail laying at the California end was undertaken by this railroad. It was granted the same princely subsidiaries as the Union Pacific. Some ten thousand Chinese workers helped to tunnel through the solid rock of the Sierra Nevada. 4. The Wedding of the rails: The joining of the Union and Central Pacific Railroads in 1869, completing the transcontinental line. The ceremony involved driving the last ceremonial golden spike by Leland Stanford. 5. The Big Four: The chief financial backers of the Pacific Railroads, including California’s ex-governor Leland Stanford and lobbyist Collis P. Huntington. They walked away with tens in millions in profits but kept their hands relatively clean by not becoming involved in the bribery of congressmen. 6. James J. Hill: probably the greatest railroad builder who created the Great Northern segment of the transcontinental railroad. He perceived that the prosperity of his railroad depended on the prosperity of the areas they served and ran agricultural demonstrations for farmers. 7. The Great Northern: The branch of the transcontinental railroad running from Duluth to Seattle north of the Northern Pacific, created by James J. Hill 8. Cornelius Vanderbilt: The genius of the New York Central enterprise. He made his millions in steam-boating but turned to a career in railroading in his late sixties and offered superior railway service at lower rates. 9. Time zones: Until the 1880’s every town in the US had its own local time. Because it was too difficult for railroad operators to deal with these time zones, on November 18 th , 1883 the major rail lines decreed that the continent would be divided into four time zones. Most cities quickly adopted the railroad’s “standard time” 10. Stock watering: originally referring to the practice of making cattle thirsty and then having them bloat themselves with water before they weighed in for sale. It became known as the technique stock promoters used to grossly inflate their claims about a given line’s assets in excess of the railroad’s actual value 11. Jay Gould: the most adept of the men behind the Crédit Mobilier Scandal. He made millions as railroad promoters refined their methods, executing
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This note was uploaded on 04/05/2011 for the course APUSH 101 taught by Professor Unknown during the Spring '11 term at Troy.

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Chapter 24 Terms - Chapter 24 Terms 1. Pacific Railroad...

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