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TERMS (ID)
• laissez-faire = It meant non-governmental interference in business.
• Homestead Act of 1862 = This law, passed in 1862, stated that a settler could acquire up to 160 acres of land and pay a minimal fee of $30.00 just for living on it for five years and settling it. A settler could acquire it for only six months and pay $1.25 an acre. This was important because previously land was being sold for profit and now it was basically being given away. About half a million families took advantage of this offer. Unfortunately, it was often too good to be true and the land was ravaged by drought and hard to cultivate.
• Credit Mobilier scandal = Officials of the Union Pacific Railroad created a fake construction company, called the Credit Mobilier, in ord...
• laissez-faire = It meant non-governmental interference in business.
• Homestead Act of 1862 = This law, passed in 1862, stated that a settler could acquire up to 160 acres of land and pay a minimal fee of $30.00 just for living on it for five years and settling it. A settler could acquire it for only six months and pay $1.25 an acre. This was important because previously land was being sold for profit and now it was basically being given away. About half a million families took advantage of this offer. Unfortunately, it was often too good to be true and the land was ravaged by drought and hard to cultivate.
• Credit Mobilier scandal = Officials of the Union Pacific Railroad created a fake construction company, called the Credit Mobilier, in ord...
Posted by: Jason Pinsky
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