ipl-logo

Big Business In The Gilded Age Dbq

1211 Words5 Pages

Big Business in the Gilded Age DBQ During the civil war, railroads were used to transport the needs of war. Such as guns, medical supplies, and food. After The homestead act was signed into law the need for railroads grew more rapidly as people moved west. This caused the need for oil, steel, and railroads to increase. Eventually allowed these business owners such as Andrew Carnegie, Cornelius Vanderbilt, and J. D. Rockefeller to control everything around them including the government. From 1870 to 1900, corporations grew significantly in number, size, and influence in the United States causing big corporations to control the government and the people in America. After the civil war, railroads became the main way to transport people or goods. …show more content…

So he created the grand central station to control what comes in and out of the northeast. He became the richest man by the end of the civil war by investing in railroads. And drives out his competition leaving him the sole owner of railroads and what and how much product gets traded for. Document 1 states “The railroad president is a railroad king, whose whim is the law. He can fix the price of freights, and thus command the food and fuel supplies of the nation. In his right hand he holds the government; in his left hand, the people”. Document 1 shows how railroad leaders such as Vanderbilt can control the economical state of America. For example, he can raise the price of transporting crops from the midwest and cause the economy and millions of people to go into a depression. Which happened in 1887 when farmers couldn't afford to stay in business because they could afford the cost of freight. Caused Granger laws, the ruling in Munn v. IL, and the creation of the Interstate Commerce Act allowing the federal government to control parts of …show more content…

to be on top of the pyramid, you had to have money and you preyed upon the poorest of people during the time; factory workers. Document 4 states “This, then, is held to be the duty of the man of Wealth: First, to set an example of modest, unostentatious living, shunning display or extravagance; to provide moderately for the legitimate wants of those dependent upon him; and after doing so to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community”. Document 4 is a step of instructions written by Andrew Carnegie explaining the importance of showing off wealth to benefit the community. Carnegie later in his life was known for being a philanthropist and trying to improve the lives of the people in his community. He funded libraries such as the Carnegie library that can be found all around America. By the end of his life, he donated over $40 million in today's money. By 1891 a new political party called the populist party was formed in support of farmers. Document 5 states “We pledge ourselves that if given power we will labor to correct these evils by wise and reasonable legislation, in accordance with the terms of our platform. We believe that the power of

Show More
Related

  • Cornelius Vanderbilt's Impact On American Business

    440 Words  | 2 Pages

    In the 19th century, individuals became incredibly wealthy due to the rapid expansion of railroads throughout the United States. These railroad tycoons amassed fortunes by investing in and controlling the transportation industry. The development of railroads allowed for faster and more efficient transportation of goods and people, ultimately leading to the growth of cities and industries across the country. There is no denying the significant impact these individuals had on American history and the economy. Cornelius Vanderbilt, also known as the "Commodore," was a prominent figure in American business during the 19th century.

    Read More

  • How Did Robber Barons Affect The Economy

    1329 Words  | 6 Pages

    Throughout the 19th century, industry as a whole became a major power house of society. Lust for invention and scientific thinking were encorporated into the mindsets of the American population. Sparked from thought and invention -- most notably from Thomas Edison, Alexander Graham Bell, the Wright Brothers, and Henry Ford -- industry was vital in influencing social and economic competition. As poverty increased in America -- resulting from rapid immigration and a competitive market economy -- so did wealthy individuals gain monetary stature. While some of those gaining wealth during this time period could be considered "Robber Barons", as they manipulated the law, influenced elections, and misinterpreted the truth in order to make gains,

    Read More

  • How Did Robber Barons Help The Economy In The Late 1800's

    594 Words  | 3 Pages

    After the Civil War America entered an era known as the Gilded Age where the economy began to grow in production of raw materials and railroads plus population increased tremendously. The industry of America grew large and big businessmen like Andrew Carnegie and John D. Rockefeller became very wealthy and rich. Soon after the rise in popularity of the businessmen in Industry people began labeling the businessmen as either “ Robber Barons “ or “ Captains of Industry “. Robber Barons were considered entrepreneurs who would stop at little expense to achieve a lot of wealth. They would be cruel to their workers and force horrible working conditions while paying little to the workers.

    Read More

  • What Were The Robber Barons Of The Emerging Growth Of America?

    501 Words  | 3 Pages

    Rockefeller was the founder of Standard Oil, and helped revolutionize the gas and oil industry while Henry Ford revolutionized the factory setting and the assembly line. While JP Morgan was primarily a businessman, he revolutionized the basic business, and became a huge supporting cast for the railroad industry. Finally, Andrew Carnegie innovated the steel production industry, and made steel production and transportation thrive throughout the country. The individuals mentioned above are only a fraction of the many different people that thrived and helped develop America during the Gilded Age”. These famous, or infamous industrialization tycoons thrived during the late 19th century, and created many of the businesses and operations that we know

    Read More

  • How Did The Transcontinental Railroad Affect The Economy

    1010 Words  | 5 Pages

    The editors of the website, “History.com”, said “ In addition to transporting western food crops and raw materials to East Coast markets and manufactured goods from East Coast cities to the West Coast, the railroad also facilitated international trade…the U.S. by the 1890s had the most powerful economy on the planet” (para 3). Being able to transport goods from coast to coast brought new opportunities, and companies began to gain more profit as a result of more products being sold. The economy went from a generally limited location on the east coast to creating industries across the nation. The railroad created a production boom because industries in the eastern U.S. had to create the supplies necessary to build the railroad as well as creating the opportunity for industries to expand to the

    Read More

  • Gilded Age In The Late 19th Century

    1044 Words  | 5 Pages

    To put into perspective what it might have been like to have a modern day example of Carnegie’s Gospel of Wealth, we can observe someone like Bill Gates. This is someone who built up a fortune then came back to establish foundations giving back some of its wealth to over come poverty or spread throughout the health and education systems. Participating in what Carnegie’s vision suggested, there are people living today who want to be apart of the revolt to help bring low income areas help that they need. Social Darwinists, like William Sumner contest that the turbulence of the

    Read More

  • The Progressive Er The Rise Of Big Businesses In The Gilded Age

    1986 Words  | 8 Pages

    With the accumulation of wealth came dominance and these entrepreneurs became some of the most powerful men in America. “Yet, their ruthlessness in building wealth at the expense of their competitors, workers, and consumers, often earned them the contrary title of “Robber Barons”, suggesting that they may have used unquestionable or unethical business practices to become wealthy and powerful” (Gilded Age Document A); some of these methods included vertical integration, horizontal integration, predatory pricing and the establishment of “the trust”. These men held the world in the palms of their hands, “administering it (wealth) for the community far better than it would have done itself” (Gilded Age Document A). “This, then, is held to be the duty of the man of wealth: First, to set an example of modest, ostentatious living, shunning display or extravagance and, after doing so, to consider all surplus revenues which one to him simply as trust funds,”(Gilded Age document A), just as Rockefeller did.

    Read More

  • Building And Growth Of Railroads From 1865 To 1900

    736 Words  | 3 Pages

    The building and growth of railroads from 1865 to 1900 played a very crucial role in American society which cannot be underemphasized. Railroads brought about many important happenings that that helped in the development of America and its people, its growth commenced the transportation of goods from one place to another thus it help people carry out business transaction in a quick and reliable way as opposed to what they were accustomed to before the railroads growth which was harder to move goods from one state to another and this caused many inconveniences that resulted to the wastage of time, capital and resources. Furthermore the growth of railroads brought about new dwelling places as people wanted to settle down in places that are connected to the railroads and that made it simpler for people to commute from place to place without wasting much time and this also brought about urbanization as people became many and this contributed to the growth of the economy and develop the country at large because people where now more than ever ready to engage in dealing with each other because

    Read More

  • The Gilded Age And Progressive Era Analysis

    92 Words  | 1 Pages

    In the book “The Gilded Age and Progressive Era” William explained that the introduction of railroads brought about the expansion of the United States. The engine of the new industrialized economy, eased the fast transportation of raw materials and finished goods from one part of the country to the other. As the railroads grew in power, it increased the economy of the country. He further explained that the problem the economy was facing is that workers were maltreated. They were forced to work in bad weather conditions and were paid very

    Read More

  • Transportation Development From 1860 To 1900

    511 Words  | 3 Pages

    The period from 1860 to 1900 in the United States was marked by tremendous economic growth, and transportation played a critical role in sparking this development. During this time, the country underwent significant changes in terms of transportation infrastructure, which facilitated the movement of people, goods, and raw materials. This essay will discuss how and why transportation developments sparked economic growth during the period from 1860 to 1900 in the United States. One of the most significant transportation developments during this period was the expansion of railroads.

    Read More

  • Significant Changes In America In The Late 19th Century

    1730 Words  | 7 Pages

    Railroad systems were able to transport goods, and services much faster, and further than any other transportation systems, which led to a mass amount of goods and services being sold, which in turn led to businesses, and business owners making more profit on selling their goods, and eventually turning their businesses into

    Read More

  • How Did Railroads Affect The Economy After 1860

    676 Words  | 3 Pages

    3. Despite the initial sentiment of economic historians, the railroad was not an integral part of American economic development after 1860. Even though the railroads were not crucial to economic growth does not negate the fact that the railroads were the first big business in the United States. The railroads benefited from economies of scale, increases in technology and pro-railroad legislation. The miles of track line increased exponentially from 30,000 miles of main line track in 1860 to 254,037 miles by 1916.

    Read More

  • How Did Jay Gould Industrialize The Transcontinental Railroad System

    592 Words  | 3 Pages

    The transcontinental railroad system developed after the Civil War in 1869; this was at the time of the Gilded Age. The reason why the railroads were industrialized, was to revolutionize and expanded the economic growth throughout the United States. Thus, allowing commercial goods to be delivered for a lower rate, as well as, transporting people across the country from coast to coast. During this era, Jay Gould became a railroad mogul, by monopolizing the railroads. As stated in the textbook, 'He operated in the stock market like a shark".

    Read More

  • Why Is Cornelius Vanderbilt Get The Greatest Award

    802 Words  | 4 Pages

    Cornelius Vanderbilt was a smart business man which caught people’s attention. He used low fares which made people use his company. Using low fares made his company sky rock threw the roof and just after 5 years he made over 25 millions dollars just from the railroad company (Gale 1). After his success he expanded the rails to the west. This was a big turning point for the railroad company, not only will it bring in more money to the company it will also have people travel farther instead of having short railroads, where they won't bring in more money and he created system spanning several states lowered costs, which increased efficiency, and sped up travel and shipment of goods (Gale 1).

    Read More

  • What Is The Impact Of Railroads In American Society

    837 Words  | 4 Pages

    After a decade, there are 30,000 miles of operational railroad. In 1862, President Abraham Lincoln signed into law the Pacific Railroad Act, leading to the construction of the intercontinental railroad and a means of transport between the west and the east. During the Civil War, railroads were a crucial tool that both sides of the conflict used to move troops and transport materials. The railroad's “golden age” starts in 1865, and from this point until 1916, the railroad network is unmatched and is scaled up by an incredible degree. The railroad network consists of 254,000 miles of operational railroads by 1916.

    Read More

More about Big Business In The Gilded Age Dbq

Open Document