APUSH Block 1
23 March 2015
Chapter 24 Key Terms and People to Know
1. Wabash, St. Louis & Pacific Railroad Company v. Illinois: decreed that individual states had no power to regulate interstate commerce
2. Interstate Commerce Act: prohibited rebates and pools and required the railroads to publish their rates openly. Forbade unfair discrimination against shippers and outlawed charging more for a short haul than a large one. SET UP ICC to administer and enforce the Act.
3. Vertical integration: pioneered by Carnegie; combining into one organization all phases of manufacturing from mining to marketing
4. Horizontal integration: allying with competitors to monopolize a given market; Rockefeller
5. Trust: mechanism by which one company grants control over its operations, through ownership of its stock, to another company.
6. Interlocking directorates: JP Morgan; Consolidate rival enterprises and to ensure future harmony by placing officers of his own banking syndicate on their various boards of directors
7. Standard Oil Company: Rockefeller; 1870; oil monopoly
8. Social Darwinists: argued that individuals won their stations in life by competing on the basis of their natural talents
9. Sherman Anti-Trust Act: 1890; Forbade combinations in restraint of trade without any distinctions between good and bad trusts. Ineffective
10. National Labor Union: 1866; represented a giant bootstride by workers. One of the earliest national-scale unions to organize in the Americas or Europe.
11. Knights of Labor: secret society with a private ritual, passwords, and a special handshake. "An injury to one is the concern of all."
12. Haymarket Square: Knights of Labor held a strike in Chicago, dynamite bomb thrown into the streets; anarchists charged
13. American Federation of Labor: Federation that consisted of an association of self-governing national unions; no individual unions. Samuel Gompers President
14. Closed shop: all-union labor
People to Know:
1. Cornelius Vanderbilt: The railroad owner who built a…