APUSH Chapter 24 Flashcards

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Questions and Answers

What was the New York Central?

A coal mining company

A western railway

An eastern railway owned by Cornelius Vanderbilt (correct)

A shipping company

What are interlocking directorates?

The consolidation of rival enterprises to ensure harmony, with officers of a banking syndicate placed on boards of these rivals.

What was the Standard Oil Trust?

Rockefeller's company that owned 90 percent of the oil refinery business in 1881.

What does the term 'trust' refer to in this context?

A consortium of independent organizations formed to limit competition. Signup and view all the answers

What is horizontal integration?

The absorption into a single firm of several firms involved in the same level of production. Signup and view all the answers

What is vertical integration?

The absorption into a single firm of several firms involved in all aspects of a product's manufacture. Signup and view all the answers

Who was J.P. Morgan?

A banker who bought out Carnegie Steel and renamed it U.S. Steel. Signup and view all the answers

Who was John D. Rockefeller?

An American industrialist and philanthropist who revolutionized the petroleum industry. Signup and view all the answers

Who was Andrew Carnegie?

A United States industrialist and philanthropist who endowed education and public libraries. Signup and view all the answers

Who was Thomas A. Edison?

One of the most prolific inventors in U.S. history. Signup and view all the answers

Who invented the telephone?

Alexander Graham Bell. Signup and view all the answers

What was established by the Interstate Commerce Act?

The Interstate Commerce Commission (ICC), which monitors business operations and regulates railroad prices. Signup and view all the answers

What did the Wabash case (1886) decide?

That individual states had no power to regulate interstate commerce. Signup and view all the answers

What are pool arrangements?

Informal agreements between companies to keep prices high and competition low. Signup and view all the answers

Who was James J. Hill?

The driving force behind the Great Northern Railway, known as the 'Empire Builder.' Signup and view all the answers

Who was Jay Gould?

A United States financier who gained control of the Erie Canal. Signup and view all the answers

Who was Commodore Cornelius Vanderbilt?

The builder of the New York Central Railroad System. Signup and view all the answers

What did the introduction of time zones in 1883 standardize?

The operations of transcontinental railroads. Signup and view all the answers

What is stock watering?

The practice of railroad promoters exaggerating the profitability of stocks. Signup and view all the answers

What was the Great Northern Railroad known for?

Being the northernmost transcontinental railroad route in the U.S. Signup and view all the answers

What did the Southern Pacific Railroad do?

It built a railroad into Southern California. Signup and view all the answers

What was the purpose of the Atchison, Topeka, and Santa Fe railroad?

To connect the Southwest deserts to California. Signup and view all the answers

What does the Northern Pacific Railroad connect?

From Lake Superior to Puget Sound. Signup and view all the answers

What is a transcontinental line?

The railroad line that spans the continent from the Atlantic to the Pacific. Signup and view all the answers

Study Notes

Key Railroads and Figures

New York Central: East-west railroad owned by Cornelius Vanderbilt, crucial for transportation and commerce.
Commodore Cornelius Vanderbilt: Built and expanded the New York Central Railroad System, a key figure in the railroad industry.
James J. Hill: Known as the "Empire Builder," he was the driving force behind the Great Northern Railway, significantly enhancing transportation.
Great Northern Railroad: The northernmost transcontinental route, privately funded, running from Minnesota to Washington.

Business Practices and Organizations

Interlocking Directorates: Strategy where rival companies share board members to minimize competition and ensure collaborative business practices.
Trust: A consortium formed to limit competition in an industry, controlling production and distribution.
Horizontal Integration: Strategy of combining multiple firms at the same production level into one entity to streamline operations.
Vertical Integration: Combines all stages of production, from raw materials to distribution, under one firm to reduce costs and increase efficiency.

Prominent Industrialists

John D. Rockefeller: Founder of Standard Oil Trust, which controlled 90% of the oil refining industry by 1881; a key figure in the development of modern philanthropy.
Andrew Carnegie: Industrialist known for his role in steel production and significant philanthropic contributions to education and libraries.
J.P. Morgan: Influential banker who consolidated industries, including buying Carnegie Steel and forming U.S. Steel; a major philanthropist and prominent "Robber Baron."

Regulatory Framework

Interstate Commerce Commission (ICC): Established by the Interstate Commerce Act of 1887 to regulate railroad operations and prevent unfair practices.
Interstate Commerce Act: Created to monitor and regulate railroad prices, enforcing transparency in rates and practices.
Wabash Case (1886): Supreme Court ruling that limited states' authority to regulate interstate commerce, reinforcing federal control.

Railroads and Innovations

Southern Pacific Railroad: Key railroad linking Southern California to major markets, contributing to regional growth despite initial skepticism about the land's farmability.
Transcontinental Line: The expansive railroad connecting the Atlantic and Pacific coasts, vital for national commerce.
Time Zones: Introduced in 1883 by railroad owners to standardize scheduling and operations across the vast network.
Stock Watering: Practice used by railroad promoters to inflate stock values beyond actual profitability, misleading investors.

Notable Inventions and Inventors

Thomas A. Edison: Renowned inventor, known for the phonograph, light bulb, and other significant innovations that impacted American life.
Alexander Graham Bell: Inventor of the telephone, whose work revolutionized communication in the United States.

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Description

Test your knowledge of key terms and concepts from Chapter 24 of AP US History. This quiz covers essential topics such as the New York Central railway and the Standard Oil Trust. Perfect for students preparing for their APUSH exam!