American Economic

History

A Dictionary and Chronology

JAMES S. OLSONAND ABRAHAM O. MENDOZA

QGREENWOOD

An Imprint of ABC-CLIO, LLC Santa Barbara, California • Denver, Colorado

Contents

Preface xxxix

Adair v. United States (208 U.S. 161) 1 Adams, John Quincy 1 Adamson Act 2 Adams-Onls Treaty 2 Addyston Pipe and Steel Company v. U.S. (175 U.S. 211) 3 Adjusted Compensation Act of 1936 3 Adkins v. Children's Hospital (261 U.S. 525) 4 Advertising 4 Affirmative Action 5 Affordable Care Act 6 Afghanistan War and the War on Terror 6 Agency for International Development 11 Agribusiness 12 Agricultural Adjustment Act of 1933 12 Agricultural Adjustment Act of 1938 13 Agricultural Adjustment Administration 14 Agricultural Credits Act of 1923 16 Agricultural Marketing Act of 1929 16 Agricultural Marketing Agreement of 1937 17 Agricultural Revolution 17 Agricultural Trade Development and Assistance Act of 1954 17 Agriculture, Department of 18 Agriculture Act of 1948 18 Agriculture Act of 1954 18 Agriculture Act of 1970 19 Agriculture Act of 1973 19

vi CONTENTS

Aid to Families with Dependent Children 19 Air Mail Act of 1925 20 Air Mail Act of 1934 21 Airline Deregulation Act of 1978 21 Airline Pilots Association 22 Alaska Commercial Company 22 Alaska Pipeline 22 Aldrich, Winthrop Williams 23 Alliance for Progress 23 Altmeyer, Arthur Joseph 24 Amalgamated Association of Iron, Steel, and Tin Workers 25 Amalgamated Clothing Workers of America 25 Amazon 26 American Agricultural Movement 26 American Association for Old Age Security 2 7 American Association of Retired Persona 27 American Bimetallic League 27 American Colonization Society 28 American Enterprise Institute for Public Policy Research (AEI) 29 American Farm Bureau Federation 29 American Federation of Labor 30 American Federation of Labor-Congress of Industrial Organizations 31 American Federation of Teachers 31 American Medical Association 32 American Motors Corporation 32 American Railway Union 33 American Revolution 33 American Stock Exchange 35 American System 35 American Telephone and Telegraph 35 Americans for Prosper!ty Foundation (AFP) 36 Amtrak 37 Annapolis Convention 3 g Antitrust ^g

Appalachian Regional Development Act of 1965 39 Apple 3g

CONTENTS vii

Arab Oil Embargo of 1973-1974 40 Arbitrage 40 Armour, Philip Danforth 41 "Arsenal of Democracy" 41 Articles of Confederation 41 Ashwander et al. v. Tennessee Valley Authority (297 U.S. 288) 42 Associationalism 43 Assumption of State Debts 43

Astor, J ohn J acob 44 Astor, William Vincent 44 Atchison, Topeka & Santa Fe Railway 45 Atlantic Coast Line Railroad 45 Atomic Energy Act of 1954 46 Automobile 46 Awalt, Francis Gloyd 48 Bailey v. Drexel Furniture (259 U.S. 20) 49 Baltimore & Ohio Railroad 49 Bank Holiday 50 Bank of America 51 Bank of the United States 52 Bankhead Cotton Control Act of 1934 52 Bankhead-Jones Farm Tenancy Act of 1937 53 Banking Act of 1933 54 Banking Act of 1935 55 Barton, Bruce 56 Baruch, Bernard Mannes 57 Beard, Charles Austin 57 Bachtel, Stephen Davison 58 Beck, David 58 Beef Trust Cases 58 Beer Tax Act 59 Bell, Alexander Graham 59 Benefits 59 Bering Sea Controversy 61 Berle, Adolf Augustus 61 Bernanke, Ben 62

CONTENTS

Berry, George Leonard 64 Biddle, Nicholas 65 Bimetallism 65 Birdseye, Clarence 66 Bitcoin 66 Black, Eugene Robert 67 Black, John Donald 67

Black Belt 67 Black Codes 68 "Black Monday" 68 "Black Monday" 68 "Black Thursday" 68 "Black Tuesday" 69 Bland, Richard Parks 69 Blue-Collar 7 0 Boeing, William Edward 70 Boll Weevil 7 0 Bolshevism 7 0 Bonneville Power Administration 71 Bonus Army 71 Borden, Gail 71 Boston Police Strike of 1919 72 Boston Tea Party of 1773 72 Boyer, Joseph 73 Boyle, William Anthony 73 Braceros 74 Brain Trust 74 Brandeis, Louis Dembitz 75 Breadlines 76 Bretton Woods Conference 76 Brook Farm 76 Brookings, Robert Somers 77 Brookings Institution 77 Brotherhood of Sleeping Car Porters 78 Brown, Harvey Winfield 7g Bryan, William Jennings 7 g

Bryce, James Bucareli Agreement of 1923 Buckmaster, Leland Stanford Budget and Accounting Act of 1921 Buffalo Buffett, Warren Bulkeley, Morgan Gardner Bull Market Burlington Northern Railroad Bums, Arthur Frank Bush, George H. W Bush, George W Business Advisory Council Business Conferences of 1929 Business Cycle Committee Business-Industry Political Action Committee Butterheld, John Capone, Alphonse Capper, Arthur Capper-Tincher Act of 1921 Capper-Volstead Act of 1922 Carey Act of 1894 Carnegie, Andrew Carrier, Willis Haviland Carson, Rachel Carter, Jimmy Carter v. Carter Coal Company (298 U.S. 238) Cato Institute Celler-Kefauver Act of 1950 Central Pacific Railroad Chamber of Commerce Chandler, Harry Chandler Act of 1938 Chapin, Roy Dikeman, Jr. Chase Manhattan Bank Chavez, Cesar Estrada

CONTENTS ix

80 80 81 81 81 82 82 83 84 84 85 87 88 89 89 90 90 91 91 92 92 93 93 94 95 95 99 99

100 100 100 101 102 102 103 103

X CONTENTS

Chesapeake and Delaware Canal 104 Chesapeake and Ohio Canal 104 Chesapeake & Ohio Railway 105 ehester, Colby Mitchell 105 Chevron 105 Chicago, Burlington & Quincy Railroad 106 Chicago, Milwaukee, St. Paul <Sr Pacific Railroad 106 Chicago & North Western Railway 107 Child Labor 107 Chinese Exclusion Act of 1882 109 Chisholm Trail 109 Chrysler, Walter Percy 109 Chrysler Corporation 110 Cigarmakers' International Union of America 111 Citizens' Reconstruction Organization III Civil Aeronautics Act of 1938 111 Civil Aeronautics Board 112 Civil Rights Act of 1964 113 Civil Rights Movement 113 Civil War 114 Civil Works Administration 115 Civilian Conservation Corps 116 Clark, Joshua Reuben, Jr. 116 Clay Henry 117 Clayton, William Lockhart 117 Clayton Antitrust Act of 1914 118 Clean Air Act of 1970 118 Cleveland, Stephen Grover 119 Clinton, Bill H9 Closed Shop 12Q Club of Rome ^20 Coal Arbitration Board 121 Coal Strike of 1919 ^.21 Coffin, Howard Earle 122 Cohen, Benjamin Victor ^22 Coinage Act of 1792 ^23 Coinage Act of 1834 i-,4

CONTENTS xi

Coin's Financial School 124 Cold War 125 Columbia River Basin Anti-Speculation Act of 1937 126 Commerce, Department of 127 Committee for Economic Development 127 Committee for the Nation 127 Committee of Forty-Eight 128 Committee on Economic Security 128 Commodity Credit Corporation 129 Commodity Dollar 130 Commodity Exchange Act of 1936 130 Commons, J ohn Rogers 131 Communications Workers of America 131 Company Union 132 Comparable Worth 132 Compromise of 1850 132 Comstock Lode 133 Conference for Progressive Political Action 133 Conglomerate 134 Congress of Industrial Organizations 135 Connally Act of 1935 136 ConocoPhillips 136 Conrail 137 Conservation of Fish Act of 1934 137 Consortium Chinese Loan of 1911 137 Constitutional Convention 138 Consumer Federation of America 138 Consumer Rights 138 Cooke, Jay 139 Corcoran, Thomas Gardiner 139 Com Belt 140 Corporate Bankruptcy Act of 1934 140 Corporation 141 Cotton Belt 141 Council of Economic Advisers 141 Council of Energy Resource Tribes 141 Cowboy 142

CONTENTS

i 49 Coxey's Army Crash of 1929 ^ Crash of 1987 ^ Credit Cards 144

Credit Mobiliar 145 Credit Unions 146 Crime of 1873 14^ Crocker, Charles 14^ Croly Herbert David 147 "Cross of Gold Speech" 148 Crowdsourcing 148 Crude Oil Windfall Profits Tax Act 148 Cuba 149 Cummings, Walter J. 150 Currie, Lauchlin 150 Curtis, Cyrus Hermann Kotzschmar 151 Danbury Halters Case (208 U.S. 274) 153 Dartmouth College v. Woodward (4 Wheaton 122) 153 Davis, Hai C. 153 Davis, James John 154 Davis, John William 154 Dawes, Charles Gates 155 Dawes Plan 155 Dawes Severalty Act of 1887 156 Day Dorothy 157 DeBow, James Dunwoody Brownson 157 Debs, Eugene Victor 158 Deere, John 158 Defense Plant Corporation 158 Defense Supplies Corporation 159 Delaware and Hudson Canal 159 Delaware and Raritan Canal 159 Deposit Act of 1836 160 Depository Institutions Deregulation and Monetary Control Act of 1980 160 Depression of 1893 161 Depression of 1920-1921 161

CONTENTS xiii

Deregulation 162 Desert Land Act of 1877 162 Deskilling 163 Dewson, Mary Williams 163 Dingley Tariff of 1897 164 Doak, William Mückles 164 Dodd-Frank Wall Street Reform and Consumer Protection Act 165 Dodge, William Earl 165 Doheny, Edward 165 Doherty Henry Latham 166 Dollar Diplomacy 166 Dorrance, John Thompson 167 Dot-com Bubble 167 Douglas, Donald Wills 168 Douglas, Lewis William 168 Douglas, William Orville 169 Dow, Herbert Henry 170 Dow Jones Industrial Average 170 Downsizing 171 Dred Scott v. Sandford (19 Howard 393, 1857) 171 Dryden, John Fairfield 172 du Pont, Pierre Samuel 172 Dubinsky, David 173 Duke, James Buchanan 173 Duplex Printing Press Company v. Deering (254 U.S. 443) 174 Durant, William Crapo 174 Dust Bowl 175 Eastman, George 177 Eastman, Joseph Bartlett 177 E-commerce 178 Economic Opportunity Act of 1964 178 Economy Act of 1933 178 Edison, Thomas Alva 179 Election of 1800 179 Election of 1828 180 Election of 1896 180

xiv CONTENTS

Election of 1912 Election of 1924 1®1 Election of 1928 1^3 Election of 1932 184 Election of 1964 184 Election of 1980 184 Election of 1992 185 Election of 2000 185 Election of 2008 185 Elementary and Secondary Education Act of 1965 186 Elkins Act of 1903 186 Ely Richard T. 187 Emancipation Proclamation 187 Embargo Act of 1807 188 Embargo Act of 1812 188 Emergency Banking Act of 1933 189 Emergency Credits Act of 1921 190 Emergency Farm Mortgage Act of 1933 190 Emergency Feed Grain Act of 1961 191 Emergency Quota Act of 1921 191 Emergency Railroad Transportation Act of 1933 192 Emergency Relief and Construction Act of 1932 193 Emergency Relief Appropriation Acts 193 Emergency Tariff Act of 1921 194 Employee Retirement Income Security Act of 1974 194 Employment Act of 1946 195 End Poverty in California 195 Energy, Department of 196 Energy Crisis 196 Enron 197 Environmental Movement 197 Environmental Policy Act of 1969 198 Environmental Protection Agency 198 Equal Employment Opportunity Commission 198 "Equal Pay for Equal Work" 199 Equal Rights Amendment 199

Erdman Arbitration Act of 1898 Erie Canal Essex Decision European Union "Ever-Normal Granary" Export-Debenture Plan Export-Import Bank Exxon Mobil Facebook Fair Deal Fair Employment Practices Commission Fair Labor Standards Act of 1938 Farm Act of 1981 Farm Bloc Farm Credit Act of 1933 Farm Credit Act of 1971 Farm Credit Administration Farm Labor Supply Act of 1943 Farm Security Administration Farmer-Labor Party Farmers' Alliances Farmers Home Administration Featherbedding Federal Aid Road Act of 1916 Federal Anti-Price Discrimination Act of 1936 Federal Aviation Administration Federal Budget Federal Communications Commission Federal Crop Insurance Act of 1938 Federal Defense Spending Federal Deposit Insurance Corporation Federal Emergency Relief Administration

Federal Farm Bankruptcy Act of 1934 Federal Farm Board Federal Farm Loan Act of 1916 Federal Highway Act of 1921

CONTENTS xv

200 201 201 202 202 203 204 205 207 207 207 208 209 209 210 210 211 211 212 212 213 213 214 214 214 215 215 216 217 217 218 219 219 220 221 221

XVI CONTENTS

Federal Highway Administration 222

Federal Home Loan Bank Act of 1932 222

Federal Housing Administration 223

Federal Intermediate Credit Bank System 223

Federal Maritime Commission 224

Federal National Mortgage Association 224

Federal Open Market Committee 225

Federal Power Commission 225

Federal Radio Commission 226

Federal Reserve System 226

Federal Savings and Loan Insurance Corporation 227

Federal Surplus Relief Corporation 228 Federal Trade Commission 228 Federal Workmen's Compensation Act of 1916 229 Federalist Party 230 Firestone, Harvey Samuel 230 Fisher, Frederick John 231 Fisher, Irving 231 Fisk, James 232 Fitzgerald, Albert 233 Fitzsimmons, Frank Edward 233 Fletcher v. Peck (6 Cranch 87, 1810) 233 Florida Boom 234 Food Administration 235 Food and Agriculture Act of 1962 235 Food and Agriculture Act of 1965 235 Food and Drug Administration 235 Food Control Act of 1917 236 Food, Drug, and Cosmetic Act of 1938 236 Food for Peace Act of 1965 237 Food Production Act of 1917 237 Food Stamp Act of 1964 238 Forbes, John Murray 238 Forbes, Malcolm 238 Ford, Gerald 240 Ford, Henry 242

CONTENTS xvii

Ford, Henry, II 243 Ford Motor Company 243 Fordney-McCumber Tariff of 1922 244 Foreign Miners Act of 1850 245 Foster, William Zebuion 245 Fourteenth Amendment 246 Fox, William 246 Fräser, Douglas Andrew 247 "Free Ships, Free Goods" 247 Free Silver 247 Free-Soil Party 248 Free Trade 249 Freedmen's Bureau 249 "Freedom of the Seas" 249 Frick, Henry Clay 250 Friedman, Milton 250 Frontier 251 Fuel Efficiency 251 Fugitive Slave Act of 1850 251 Füller, Alfred Carl 252 Fulton, Robert 252 Funding the National Debt 253 Gadsden Purchase 255 Galbraith, John Kenneth 255 Gallatin, Abraham Alfonse Albert 256 Garvey, Marcus Mosiah 256 Gary, Elbert Henry 257 Gates, Bill 257 Geneen, Harold Sydney 258

General Agreement on Tariffs and Trade (GATT) 258 General Electric Corporation 259 General Motors Corporation 260 General Survey Act of 1824 261 Gentrification 261 George, Henry 261 Gerber, Daniel Frank, Jr. 262

xviii CONTENTS

Getty, Jean Paul 262

G.I. Bill of Rights 263

Giannini, Amadeo Peter 263

Gibbons v. Ogden (9 Wheaton 1) 264

Gilded Age 264

Gilman, Charlotte Perkins 265

Gimbel, Bernard 266

Girdler, Tom Mercer 266

Glass, Carter 267 Glass-Steagall Act of 1932 268 Global Warnung 269 Globalization 269 Gold Reserve Act of 1934 270 Gold Rush 270 Gold Standard Act of 1900 271 Goldman, Emma 271 Goldwater, Barry Morris 272 Gompers, Samuel 272 Good Neighbor Policy 273 Goodnight, Charles 274 Goodyear, Charles 275 Google 275 Gordy Berry Jr. 276 Gorman, Frank J. 276 Gould, Jay 277 Grace, Eugene Gifford 277 Grace, William Russell 277 Graduation Act of 1854 278 Granger Laws 278 Grant, William Thomas 279 Great Depression 280 Great Northern Railway 280 Great Recession 280 Great Society 280 Green, William 281 Greenback Party 281

CONTENTS

Greenback-Labor Party 282 Greenspan, Alan 283 Green Technology 283 Griffith, David Lewelyn Wark 284 Group of Eight (G-8) 284 Guggenheim, David 285 Hall, Joyce Clyde 287 Hamilton, Alexander 287 Hammer, Armand 288 Hammer v. Dagenhart (247 U.S. 251) 288 Hansen, Alvin 289 Hard Money 290 Harriman, Edward Henry 290 Harrington, Michael 291 Harris Treaty of 1858 291 Harrison, George 291 Hartford, George Huntington 292 Hartford Convention 292 Hatch Act of 1887 292 Hawaii 293 Hawaiian Reciprocity Treaty of 1875 293 Hawley-Smoot Tariff 293 Hay, John Milton 294 Haymarket 295 Haywood, William Dudley 295 Hearst, William Randolph 296 Heinz, Henry John 297 Heller, Walter 297 Hepburn Act of 1906 297 Heritage Foundation 298 High-Performance Computing Act of 1991 298 Hill, George Washington 299 Hill, James Jerome 299 Hillman, Sidney 300 Hillquit, Morris 301 Hilton, Conrad Nicholson 301

XX CONTENTS

Hoffa, James Riddle Holding Company Holmes, Oliver Wendeil, Jr. Home Owners' Loan Corporation 303

304 Homestead Act Homestead Strike of 1892 304 Hoover, Herbert Clark 305 Hoover, Herbert William 307 Hoover Dam 30' Hoover Moratorium 308 Hoovervilles 308 Hopkins, Harry L. 309 Hopkins, Mark 310 Horizontal Integration 310 Housing Act of 19 54 310 Hughes, Charles Evans 311 Hughes, Howard Robard, Jr. 312 Hull, Cordell 312 Humphrey William Ewart 313 "Hundred Days" 113 Hunt, Haroldson Lafayette 314 Huntington, Collis Potter ^14 Hurricane Katrina 5 [ 5 Hydraulic Fracturing (Fracking) 315 Iacocca, Lee 3^ Illinois and Michigan Canal 319 Illinois Central Railroad 3 m Immigration Immigration Act of 1924 p ̂ Imperialism ^ Impressment ^ Zn re Dek (158 U.S. 564-) ^ ^ Income Tax ' Independent Treasury , Indian Removal Act of 1830 ^ Indian Reorganization Act of 1934

CONTENTS

Industrial Workers of the World 325 Information Revolution 325 Ingersoll, Robert Stephen 325 Injunctions 326 Installment Buying 326 Insull, Samuel 326 Inter-American Development Bank 327 Interlocking Directorates 328 Internal Improvements 328 International Bank for Reconstruction and Development 329 International Brotherhood of Electrical Workers 329 International Brotherhood of Teamsters 329 International Business Machines 330 International Labor Organization 330 International Ladies' Garment Workers Union 331 International Longshoremen's Association 331 International Monetary Fund 332 International Telephone and Telegraph 332 Internet 333 Interstate and Defense Highway System Act of 1956 333 Interstate Commerce Commission 333 Investment Advisers Act of 1940 335 Investment Company Act of 1940 335 Iraq War 336 Jackson, Andrew 341 Jay's Treaty of 1794 341 Jefferson, Thomas 342 Jim Crow 343 Job Corps 343 Jobs, Steve 344 Johnson, Hiram Warren 344 Johnson, Lyndon Baines 345 Joint Stock Company 346

Jones, Jesse Holman 346 Jones, Mary Harris 347 Jones-Connally Farm Relief Act of 1934 347

xxii CONTENTS

Jones-Costigan Sugar Act of 1934 Kaiser, Henry John ^9 Kanagawa, Treaty of -3^9 Keith, Minor Cooper ^50 Kelley Florence ^50 Kelley Oliver Hudson 351 Kellogg, Will Keith 351 Kennedy John Fitzgerald 352 Kennedy Round 352 Keynes, John Maynard 353 "King Cotton" 354 Knights of Labor 354 Knox, Philander Chase 355 Knudsen, William 356 Korean War 356 Kraft, James Lewis 357 Kresge, Sebastian Spering 357 Kroc, Ray 358 Krugman, Paul 358 Kuhn, Maggie 359 La Follette, Robert Marion 361 La Follette, Robert Marion, Jr. 362 Labor, Department of 362 Labor's League for Political Education 363 Laffer, Arthur 363 Laissez-Faire 364 Lamont, Thomas William 364 Land, Emory Scott 365 Land Act of 1796 365 Land Act of 1800 366 Land Act of 1820 366 Land Management, Bureau of 366 Land Ordinance of 1785 367 Landrum-Griffin Act of 1959 367 Lane, Dennis 36g Lathrop, Julia ^68

Lausanne Conference of 1932 Legal Tender Act of 1862 Legge, Alexander Lend-Lease

Lever Food and Fuel Control Act of 1917 Lewis, John Llewellyn Lewis and Clark Expedition Liberalism, Classical Libertarianism Liberty Loan Act of 1917 Lincoln, Abraham Litton Industries Lobbying Lochner v. New York (198 U.S. 45) Lockout Lodge Corollary Loew, Marcus London Economic Conference of 1933 Louisiana Purchase Lowell, Francis Cabot Macon's Bills Macy Rowland H. Madison, James Mahan, Alfred Thayer Manhattan Project Manifest Destiny Mann-Elkins Act of 1910 Marcy-Elgin Treaty of 1854 Margin Buying Market Revolution Marriott, John Willard Marshall, John Marshall Plan Martin, Warren Homer Mass Production Mayer, Louis Burt

CONTENTS xxiii

369 370 370 371 371 371 372 372 373 373 373 374 374 374 375 375 375 376 377 377 379 379 379 380 381 381 381 382 382 383 383 383 384 384 385 385

xxiv CONTENTS

Maysville Road 386 Maytag, Frederick Lewis 386 McCormick, Cyrus Hall 387 McKinley, William 387 McKinley Tarif! Act of 1890 388 McNary-Haugen Plan 388 M'Culloch v. Maryland 389 Means, Gardiner Coit 389 Meany George 390 Meat Inspection Act of 1906 390 Medicare 391 Mellon, Andrew William 391 Mercantilism 392 Merchant Marine Act of 1920 392 Merchant Marine Act of 1936 393 Meriam Report 393 Mesabi Range 393 Metals Reserve Company 394 Mexican Cession 394 Mexican War 395 Meyer, Eugene, Jr. 395 Microsoft 396 Military-Industrial Complex 396 Miller-Tydings Act of 1937 397 Mills, Ogden Livingston 397 Mines, Bureau of 397 Minimum Wage 39g Missouri Compromise 39g Missouri Pacific Railroad 399 Mitchell, Charles Edwin 400 Mitchell, John ^QQ Molly Maguires 40^ Monetary Act of 1939 xQi Monroe Doctrine 4^2 Monsanto

Morgan, John Pierpont 403

CONTENTS XXV

Morgan, John Pierpont, Jr. 403 Mergenthau, Henry, Jr. 404 Mergenthau Plan 404 Morrill Act of 1862 405 Morrill Tariff Act of 1861 405 Morrow, Dwight Whitney 406 Morse, Samuel Finley Breese 406 "Most-Favored-Nation" 407 Motor Carrier Act of 1935 407 Motor Carrier Act of 1980 408 Muckrakers 408 Muller v. Oregon (208 U.S. 412) 409 Multinational Corporation 409 Municipal Bankruptcy Act of 1934 410 Murray, Philip 410 Nader, Ralph 413 NASDAQ 413 National Aeronautic and Space Administration 414 National Alliance of Businessmen 414 National Association of Manufacturers 415 National Banking Act of 1864 415 National Child Labor Committee 416 National Civic Federation 416 National Credit Corporation 416 National Debt 417 National Defense Education Act of 1958 417 National Economic and Social Flanning Association 418 National Economic Association 418 National Environmental Policy Act of 1970 419 National Farmers Organization 419 National Farmers' Union 419 National Foreign Trade Council 420 National Crange 420 National Housing Act of 1934 421 National Industrial Recovery Act of 1933 422 National Labor Relations Act of 1935 422

xxvi CONTENTS

National Labor Relations Board v. Jones & LaugMin Skel Corporation (301 U.S. 1) 424 National Labor Union 424 National Organization for Women 424 National Recovery Administration 425 National Resources Flanning Board 426 National Road 426 National Small Business Men's Association 427 National Traffic and Motor Vehicle Safety Act of 1966 427 National War Labor Board 428 National Youth Administration 428 Neoliberalism 428 Neutrality 429 Neu trality Acts 429 New Consortium 430 New Deal 430 New Democrats 431 New Economic Policy 431 New Freedom 432 New Nationalism 432 New South 433 New York Central Railroad 433 New York Stock Exchange 434 Newlands Reclamation Act of 1902 434 Nixon, Richard Milhous 434 Nixonomics 435 Noble, Edward John 435 Non-Importation Act of 1806 436 Non-Intercourse Act of 1809 436 Non-Partisan League 43 7 Nonprofit Organization 437 "Normalcy" 43 7 Norquist, Grover 43g Norris, George William 43g Norris-La Guardia Labor Relations Act of 1932 439

CONTENTS xxvii

North American Free Trade Agreement 440 Northern Pacific Railway 440 Northern Securities Company 441 Northwest Ordinance 441 Nuclear Regulatory Commission 442 Nye, Gerald Prentice 442 Obama, Barack 445 Ocala Platform 445 Occupational Safety and Health Act of 1970 446 Office of Management and Budget 446 Office of Price Administration 447 Offshoring 447 Ohio and Erie Canal 448 Oil, Chemical, and Atomic Workers International Union 448 "Okies" 448 Online Education 449 Open Door Policy 450 Open Shop 450 Oregon Trail 450 Oregon Treaty of 1846 450 Organization of American States 451 Organization of Petroleum Exporting Countries 451 Outsourcing 452 Owen, Robert Dale 453 Packers and Stockyards Act of 1921 455 Paley William Samuel 455 Panama Canal Zone 456 Panama Refining Company v. Ryan 457 Panic of 1819 457 Panic of 1837 458 Panic of 1857 459 Panic of 1873 459 Panic of 1907 459 Parity 460 Patman, Wright 460 Patterson, John Henry 461

xxviii CONTENTS

Patterson, William Allen Payne-Aldrich Tariff of 1909 ^2

462 Peace Corps Pecora, Ferdinand Peek, George Nelson 463 Pendieton Act of 1883 464 Penney, James Cash 464 Pennsylvania Canal 465 Pennsylvania Railroad 465 Perkins, Frances 466 Perkins, George W 466 Perot, Henry Ross 467 Perry Matthew Calbraith 467 Persian Gulf War 467 Pfizer 471 Phelps, Anson Greene 471 Phillips, Frank 471 Piecework 472 Pinchot, Gifford 472 Pinckney's Treaty of 1795 473 Pink Collar 473 Planned Obsolescence 473 Platt Amendment 474 Plumb Plan 474 Polk, James Knox 475 Pony Express 475 Pools 475 Populist Party 476 Potofsky, Jacob Samuel 476 Powderly, Terence Vincent 477 Preemption Act of 1841 477 President^ Organization on Unemployment Relief 478 Professionalization 478 Progressive Movement 479 Prohibition 479 Protective Legislation 481

Public Debt Act of 1941 Public Utility Holding Company Act of 1935 Pueblo Land Act of 1924 Pujo Committee Pullman Strike Pure Food and Drug Act of 1906 Putting-Out System Quitrent Radio Railroad Brotherhoods Railroad Land Grants Railroad Retirement Act of 1934 Railroad Retirement Act of 1937 Railroad Strike of 1877 Railroad Strike of 1922 Railway Labor Act of 1926 Railway Labor Act of 1934 Rand Corporation Randolph, Asa Philip Raskob, John Jacob "Reading Formula" Reagan, Ronald Reaganomics Rebate Recession of 1937-1938 Recession of 1982 Recession of 1991 Recession of 2002-2003 Reciprocal Trade Agreements Act of 1934 Reclamation, Bureau of Reclamation Project Act of 1939 Reconstruction Reconstruction Finance Corporation Reparations Report on Manufactures Report on the Public Credit

CONTENTS xxix

482 482 483 483 484 484 485 487 489 490 490 490 491 491 492 492 493 493 494 495 496 496 499 500 500 501 502 502 502 503 504 504 505 506 507 507

XXX CONTENTS

Research and Development (R&D) Resettlement Administration 508

Reuther, Walter Philip Revenue Act of 1861 509 Revenue Act of 1864 509 Revenue Act of 1921 509 Revenue Act of 1924 510 Revenue Act of 1932 511 Revenue Act of 1935 511 Revenue Act of 1940 512 Revenue Act of 1964 513 Revenue Act of 1971 513 Revenue-Sharing 513 Reynolds, Richard Joshua 514 "Right-to-Work" 514 Roaring Twenties 515 Robber Barons 515 Rockefeiler, John Davison 515 Rockefeiler, John Davison, Jr. 516 Roosevelt, Anna Eleanor 516 Roosevelt, Franklin Delano 517 Roosevelt, Theodore 518 Roosevelt Corollary 519 Roosevelt-Litvinov Agreements of 1933 519 Rosenwald, Julius 520 Rosie the Riveter 520 Rostow, Walt Whitman 521 Rubber Reserve Company 521 Rural Electrifkation Administration 522 Rural Free Delivery 522 Russian American Company 522 Rust Belt 523 Ryan, John Augustine 523 Sachs, Samuel 525 SafetyValve 525 St. Lawrence Seaway 526

CONTENTS xxxi

Sanders, Harland 526 Santa Fe Trail 526 Sarnoff, David 527 Savings and Loan Crisis 527 Scab 528 Schechter Poultry Corporation v. United States (295 U.S. 495) 528 Schwab, Charles Michael 529 Seaboard Air Line Railroad 530 Sears, Roebuck and Company 530 Seattle General Strike of 1919 531 Second Bank of the United States 531 Securities Act of 1933 532 Securities and Exchange Commission 533 Securities Exchange Act of 1934 534 Securities Investor Protection Corporation 534 Service Industry 535 Share Our Wealth Movement 535 Sharecropper 536 Shays's Rebellion 536 Sheppard-Towner Act of 1921 536 Sherman, John 537 Sherman Antitrust Act of 1890 537 Sherman Silver Purchase Act of 1890 538 Shipping Act of 1984 538 Silicon Valley 539 Silver Act of 1963 539 Silver Democrats 539 Silver Purchase Act of 1934 540 Silver Republican Party 541 Sinclair, Upton Beall 541 Single Tax Movement 541 Sit-Down Strike 542 Slaughterhouse Cases 542 Slave Trade 542 Slavery 543 Sloan, Alfred Pritchard, Jr. 544

xxxii CONTENTS

Small Business Administration Smartphones ^5 Smith, Alfred Emmanuel 546 Smith-Lever Act of 1914 547 Smoot, Reed 547 Social Darwinism 547 Social Gospel 548 Social Media 548 Social Security Act of 1935 549 Social Security Administration 551 Socialism 551 Socialist Labor Party 552 Socialist Party of America 552 Soil Conservation Act of 1935 553 Soil Conservation and Domestic Allotment Act of 1936 553 Southern Homestead Act of 1866 554 Southern Pacific Railroad 554 Southern Tenant Farmers' Union 555 Spanish-American War 556 Special Committee on Farm Tenancy 556 Speele Circular of 1836 557 Speele Resumption Act of 1875 557 Stagflation 557 Staggers Rail Act of 1980 558 Stanford, Leland 55g Steagall, Henry Bascom 559 Steel Company Seizure of 1952 560 Steel Strike of 1919 560 Steinbeck, John 561 Stephens, Uriah Smith 56} Stock-Raising Homestead Act of 1916 562 Stone, Harlan Fiske 562 Stone, Warren Stanford 563 Subprime Mortgage Crisis 563 Subsistence Homesteads 564 Subtreasury Plan 5fi4

CONTENTS xxxiii

Suburbs 564 Sunbelt 565 Supply-Side Economics 565 Sweatshop 566 Swift, Gustavus Franklin 566 Swope, Gerard 567 Sylvis, William 568 Taft, William Howard 569 Taft-Hartley Act of 1947 570 Taney Roger Brooke 570 Tariff Commission Act of 1916 571 Tariff of 1789 572 Tariff of 1816 572 Tarig of 1824 573 Tariff of 1828 573 Tariff of 1842 573 Tax Payment Act of 1943 574 Tax Reform Act of 1986 574 Taylor, Frederick Winslow 574 Taylor Grazing Act of 1934 575 Tea Party Movement 575 Teapot Dome 577 Technocracy 578 Telecommuting 579 Temporary Emergency Relief Administration 579 Temporary National Economic Committee 579 Tennessee Valley Authority 580 Textile Workers Union of America 581 Three-Fifths Compromise 581 Timber Culture Act of 1873 581 Timber Cutting Act of 1878 582 Total Quality Management 582 Townsend, Francis Everett 583 Toxic Substances Control Act 584 Trade Deficit 584 Trade Expansion Act of 1962 584

xxxiv CONTENTS

Trade Relations Council of the United States Trading with the Enemy Act of 1917 585

Trans-Mississippi West Transportation, Department of 585 Transportation Act of 1920 586 Transportation Act of 1940 587 Triangle Shirtwaist Fire 587 Triangular Trade 588 Trickle-Down Theory 588 Troubled Asset Relief Program (TARP) 589 Truman, Harry S. 589 Truman Doctrine 589 Tramp, Donald John 590 Trust 590 Tugwell, Rexford Guy 591 Turnpike 591 Underwood Tariff of 1913 593 Unemployed Councils 593 Unemployed Leagues 593 Union Pacific Railroad 594 United Automobile Workers 594 United Farm Workers Union 595 United Fruit Company 595 United Mine Workers 596 United Rubber Workers 597 United States Chamber of Commerce 597 United States Commercial Company 598 United States Railroad Administration 598 United States Steel Corporation 599 United States v. Butler (297 U.S. 1) 599 United States v. E. C. Knight Company (156 U.S. 1) 600 United States v. Trans-Missouri Freigut Association (166 U.S. 290) 600 United Steelworkers of America 601 Van Dyke, John Wesley 603 Van Swearingen Brothers 603 Vanderbilt, Cornelius 604

Vanderbilt, Cornelius, III Vehlen, Thorstein Bunde Vertical Integration Vietnam War Wabash and Ehe Canal Wage Stabilization Board Wagner, Robert Ferdinand Wagner-Peyser Act Wagner-Steagall Housing Act of 1937 Walgreen, Charles Rudolph Walker Tariff of 1846 Wall Street Wallace, Henry Agard Walmart Waltham System Wanamaker, John War Debts War Finance Corporation War Industries Board War Manpower Commission War of 1812 War Production Board Warburg, James Paul Warburg, Paul Moritz Ward, Aaron Montgomery Warner Brothers Warren, George Frederick Washington, Booker Taliferro

Washington, George

Watson, Thomas John Wealth Tax Act of 1935 Weaver, James Baird Webb-Pomerene Act of 1918 Webster, Daniel Weir, Ernest Tener Weifare Reform Act of 1996

CONTENTS xxxv

604 604 605 605 607 607 608 608 609 609 610 610 610 611 611 612 613 613 614 614 615 616 616 617 617 618 619 619 620 620 621 621 622 622 623 623

xxxvi CONTENTS

Wells Fargo Bank Coost Hotel v. Parrük (300 U.S. 379) 624

Westinghouse Electric Corporation 624

Wheat Belt 625 Wheat Controversy of 1972 625 Wheeler, Burton Kendali 625 Wheeler-Lea Act of 1938 626 Whip Inflation Now 626 Whiskey Tax 627 White-Collar 627 Whitney, Eli 628 Whitney Richard 628 Wickham, Carl Eric 629 Wiggin, Albert Henry 629 Wilbur, Ray Lyman 630 "Wildcat Strike" 630 Wilderness Road 631 Wilson, Charles Erwin 631 Wilson, Milburn Lincoln 631 Wilson, Thomas Woodrow 632 Wilson-Gorman Tariff of 1894 633 Wisconsin Idea 634 Women's Trade Union League 634 Wood, Robert Elkington 634 Woodruff, Robert Winship 635 Woodward, Ellen Sullivan 636 Work Relief 636 Workers' Compensation 637 Workers' Education 638 Workfare 638 Works Progress Administration 639 World Trade Center and Pentagon Attacks 639 World Trade Organization (WTO) 640 World War I 641 World War II 641 Wrigley William, Jr. 643

CONTENTS xxxvii

Yahoo! 645 Vellen, janet Louise 645 Yellow-Dog Contract 646 Young, Owen D. 646 Young Plan 647 Zynga 649

Chronology of U.S. Economic History 651 Selected Bibliography 667 Index 675