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American Heritage Chapter 12
Chapter 12
34
History
Undergraduate 1
07/28/2009

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Term
Jay Gould
Definition
Often regarded as the most unethical of the robber barrons. Went on to contol 15% of of the country's tracks. Recognized as a skilled business man.
Term
Leland Stanford
Definition
Central Pacific Railroad
Term
Cornelius Vanderbilt
Definition
Fortune from shipping and then railroads. Personally did little in the way of philanthopy, his second wifes nephew eventully convinced him to fund Vanderbilt University.
Term
Collis P. Huntington
Definition
One of the BIg Four, was involved in railroads. Founded Newport News Shipping.
Term
Andrew Carnegie
Definition
Steel fortune. At the end of his life he donated TONS of money to establish schools, libraries and such.
Term
Robber Baron
Definition
Muckraker term used for the leaders of large corporations and trusts to reflect their power and unscrupulous natures.
Term
Muckraker
Definition
Journalists that portrayed the leaders of corporations and the actions of their companies in unfavorable circumstances, writing "yellow journalism"
Term
John D. Rockefeller
Definition
Founder of Standard Oil company. Known for buying out his competitors. Target of muckrakers. Very generous.
Term
J.P. Morgan
Definition
banker and financeer, founded the most powerful bank in the world. The world's first Billion Dollar corporation. Benefactor of the Met and other museums.
Term
The Octopus
Definition
written by Frank Norris. Recounted the depredations of California railroads.
Term
The Jungle
Definition
written by Upton Sinclair. Muckraker exposed the practices of Chicago meat-packing industry
Term
The Jungle
Definition
written by Upton Sinclair. Muckraker exposed the practices of Chicago meat-packing industry
Term
Eugene V. Debs
Definition
Ran for president 5 times as a socialist. Once he ran while he was in jail for obstructing the draft of WWI.
Term
William Marcy Tweed
Definition
"Boss Tweed" leader of the Tammany Hall political machine which rigged elections and stole massive amounts of money from N.Y.C.
Term
Populism
Definition
1880's political movement favorizing nationalization of banks and railroads to protect farms and rural towns from private power and corruption of big corporations.
Term
William Jennings Bryan
Definition
lawyer and popular speaker. Famous for being the lawyer in the scopes trial attempting to teach evolution in schools.
Term
Progressivism
Definition
Post-populist, urban based political movement against private power and corporate corruption that looked hopefully towards the future, emphasisizing the benefits of science and technology.
Term
Herbert Spencer
Definition
considered to be the father of social darwinism. coined "survival of the fittest"
Term
Social Darwinism
Definition
society is in the state of constant change and we are developing into higher more complex forms.
Term
Federal Reserve System
Definition
a quasi-government organization formed to regulate the money supply and help keep the economy stable.
Term
Iniative
Definition
citizen could put propositions directly on the ballot through petition and have them become laws by garnering a majority vote.
Term
Referendum
Definition
Progressive reform in which laws passed by legislatures can be directly submitted to the people for a vote, a majority vote against it removes it from the books.
Term
Recall
Definition
Citizens can call a special election to recall an elected official
Term
Great Depression
Definition
extended recession of the 1930's that led to widespread unemployment, bank failure and general downturn in the economy until WWII.
Term
Bank Run
Definition
When most depostitors try to withdraw their funds simultaneously from a bank.
Term
Franklin Delano Roosevelt
Definition
helped nation struggle through depression and WWII.
Term
New Deal
Definition
plan of FDR involving the creation of various gov. agencies and programs designed to stimulate the economy and help the U.S. overcome the great depression.
Term
Herbert Hoover
Definition
31st president. ran unsuccessfully in 1932. lost terribly.
Term
John Maynard Keynes
Definition
british economist. influenced FDR's new deal for the U.S. economy.
Term
Keynesian economics
Definition
economy regulates itself, but in deep recession government would be needed to artificially stimulate demand by increasing spending or cutting taxes.
Term
Commerce Clause
Definition
gives congress the power to regulate certain types of trade, also a justification for the Civil Rights Acts of 1964.
Term
Charles A. Beard
Definition
leader of the "progressive school" of historiography. attacked the founders as being motivated by economic self-interest. Originally supported "new deal" then later opposed WWII.
Term
Thomas Woodrow Wilson
Definition
28th president. He felt the Constitution was to rigid and outdated.
Term
Monetarists
Definition
Supporters of an economic theory emphasizing the role of money supply in an economy.
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