Wednesday, February 6, 2013

The Gentlewoman and the Robber Baron

1. What were the two most popular magazines in America in 1902?
McClure's and Munsey's
2. Who was Mark Twain? How did he become involved in Ida Tabell's investigation of Standard Oil?
He was a public figure, specifically a writer. He got involved when the Standard Oil Company asked him to inquire McClure's what they were going to publish about the Company.
3. Why did Ida Tarbell pray not to get married?
At fourteen she prayed that God would keep her from marriage because sufragettes inspired her to want freedom, and according to her, in order to get freedom she had to be a spinster.
4. Who were the Sufragettes? How did the influence Ida?
They were the advocates of women's suffrage, and they influenced Ida because when she was young they used to visit the Tarbell's home and Ida fell under the spell of their fervent talk.
5. What was the most important thing in Rockefeller's life?
Besides his family, his business.
6. What is a rebate?
A rebate is an amount paid by way of reduction, return or refund on what has already been paid or contributed. 
7. How did the railways give preferential treatment to Standard Oil?
Rockefeller and other large refiners conspired to make railroads give them additional rebates.
8. What is the difference between crude oil and refined oil?
Crude oil is a natural flammable substance found beneath the earth's surface and refined oil is the what's obtained after crude oil has gone through a process of destillation or similar procedures and is ready for sale.
9. Did Standard Oil practice Horizontal integration, Vertical Integration or both? 
Both.
10. Ida Tarbell summarized Rockefeller's goal. If Rockefeller controlled the entire market for oil, what would he have?
 A monopoly.
11. What did Ida Tarbell have to say about "The Legitimate Greatness of Standard Oil"?
She freely acknowleged Rockefeller's business efficiency and his passion for detail and plowing profits back into the company and said it resulted in a masterpiece of organization.
12. What percentage of the nations' oil business did Rockefeller control by 1879?
90%
13. What are muckrakers? 
A term applied by Roosevelt to responsible and irresponsible journalists alike.
14. What law did the U.S Government use to sue Standard Oil? 
They charged Standard Oil with violation of the Sherman act.
15. What did the supreme Court eventually decide in that lawsuit?
They declared Standard Oil to be a monopoly in restraint of trade, based upon unfair practices. The charged that Standard's object was to drive others from the field and exclude them from business ordering the holding company to dissolve.
16. What did Rockefeller's son John Rockefeller, Jr., do with his money?
He decided that he would give away all of the money that came from his father's business creation.
17. What happened when John Rockefeller Jr., and Ida Tarbell met at a conference?
They acted casually and naturally and were placed together by some inspired host at a formal dinner chatting amiably. 

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