American History: A Survey 10/e   Alan Brinkley
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1. arbitration: The settling of a labor-management dispute by submission of the issues to an impartial third party empowered to issue a binding settlement. Arbitrators often "split the difference" between competing demands, but they also have the right to choose between the competing demands.

2. national banks: Privately owned banks chartered by the national government and operated under federal regulations. State banks, also privately owned, are chartered and regulated by state governments. Most large banks are national banks.

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