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Chapter 19

Chapter 19. Section 1. Consolidation. To combine several companies. Railroad Barons. The men who controlled all the railroads. How did the Railroads help the economy?. Made it easier to ship goods. Standard Gauge. Making the space between all railroad tracks the same. Rebates.

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Chapter 19

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  1. Chapter 19 Section 1

  2. Consolidation • To combine several companies

  3. Railroad Barons • The men who controlled all the railroads

  4. How did the Railroads help the economy? • Made it easier to ship goods

  5. Standard Gauge • Making the space between all railroad tracks the same

  6. Rebates • Discounts given to regular customers

  7. Pools • Secret agreements among the railroad barons

  8. Chapter 19 • Section 2- Inventions

  9. Alexander Graham Bell • Invented the telephone

  10. George Westinghouse • Developed the electricity transformer

  11. Henry Ford • Developed the assembly line in order to speed up production of vehicles and other goods

  12. The Model T • The main vehicle produced by Henry Ford in 1906

  13. Assembly Line • Sped up production of goods

  14. How did Mass Production affect the economy? • It made goods cheaper because it reduced the cost and time of making them

  15. Section 3 • Age of Big Business

  16. What were the Factors of Production? • Land • Labor • Capital

  17. Corporation • A company that sells shares or stock in itself

  18. Stock • Shares in a company

  19. Shareholders • Anyone who owns stock in a company

  20. Dividends • The money made when the company you invest in does well

  21. John D. Rockefeller • Early oil baron • He set up the Standard Oil Company

  22. Horizontal Integration • Getting the competitors to be apart of your company

  23. Trust • A group of companies managed by the same people

  24. Steel • The Bessemer Process • Pittsburg, Pennsylvania • Birmingham, Alabama

  25. Andrew Carnegie • Early Steel Baron

  26. Vertical Integration • Buying companies that you need in order to do business so • He bought out his suppliers so he wouldn’t have to pay them

  27. J.P. Moran • Formed U.S. Steel • The worlds first billion dollar company

  28. Philanthropy • Using money to benefit the community

  29. Mergers • Combining companies

  30. Monopoly • Eliminating the competition of your company • And also a board game with a man who has a little white mustache

  31. Sherman Antitrust Act • Stopped the formation of monopolies

  32. Section 4 • Industrial Workers

  33. What were the working conditions like? • Not Fun • Hot • Sweaty • Long Hours • Little Pay

  34. Sweatshops • Workplaces that were unsafe and unhappy places to be

  35. Textiles • Goods made from cotton or fabrics

  36. How were Women Workers treated? • Bad • They were paid less than men

  37. What is a Labor Union? • Groups of workers who stick together to get what they want • What are some things a labor union might fight for?

  38. Knights of Labor • First universal labor union • Included all people

  39. Collective Bargaining • A way of making Deals or Compromises with Unions and their Bosses

  40. Triangle T-Shirt Factory • A sweatshop that made t-shirts • The doors were locked to keep the workers in • It burned down killing 150 people because the doors were locked

  41. Union Strike • When members of a Union refuse to work until their demands are met

  42. Strikebreakers • Scabs • Workers who didn’t belong to the Unions • They would work when the Union went on Strike

  43. Injunction • A court order forcing someone to do what the court says

  44. The End

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