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Cards In This Set
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What were the results of the depression of the 1890's and what did it give rise to?
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Rural hositility towards cities, fight over currency, and changed people's thinking about gov't, unemployment, and reform. war between capital and labor, farmers wanted fairer share, new immigrants under attacked. realignment of political system. gave rise of Progressive Era.
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What did the Supreme Court decide in Munn v. Illinois?
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Illinois responded to local merchants who were upset with existing railroad rate policies, the Ill state constituion of 1870 declared RRs to be public highways and authorized the legislature to pass laws establishing maximum rates and preventing rate discrimination. Supreme Court upheld Illinois legislatoin, declaring private property "affected with the public interest... must submit to being controlled by the public for the common good."
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What did the Wabash decision spur Congress to do?
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States couldn't regulate commerce extending beyond their borders - only Congress could. spurred Congress to create the ICC (Insterstate Commerce Commission) to investigate and oversee RR services.
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What was the ICC? Why was it so important?
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Investigated and oversaw RR services. Act outlawed rebates and pooling agreements, and ICC became prototype of federal commissions that today regulate many parts of the economy
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What was the Sherman Antitrust Act?
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First federal attempt to regulate big business.
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What was the result of the Supreme Court decision in US v EC Knight?
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EC Knight controlled 98% of sugar refining, Supreme Court drew a sharp distinction between commerce and manufacturing, holding that the company, as a manufacturer, was not subject to the law.
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What was the farm problem, according to farmers?
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Declining prices for their products, rising railroad rates for shipping, and burdensome mortgages.
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What were the causes of the depression in the 1890's?
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Expanded too rapidly. companies had grown beyond markets; farms and businesses had borrowed heavily for expansion. panic. stock market. sold stocks to buy gold. banks cut back on loans.
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Why did employees of the Pullman Palace Car Company strike?
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Protest wage cuts, continuing high rents, and layoffs.
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How did American attitude change as a result of the 1890's depression?
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Undermined traditional views and caused people to rethink older ideas about govt, economy, and society. during prosperous tiems, American's thought unemployment as result of personal failure. during depression, such views were harder to maintain.
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What did Americans call for as a result?
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Pressures for reform increased. demand grew for govt intervention.
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What happened in the 1890's with regard to women and work? Children and work?
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Accelerated the trend of women and children in the workforce.
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What were the favorable economic circumstances as McKinley took office?
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Economy began to revive. stock market rose, factories started up, farmers prospered
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What was the Dingley Tariff?
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Raised average tariff duties to a record level
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What was the Gold Standard Act?
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Declared gold the standard of currency
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