the second industrial revolution saw the development of many new innovations and technological advancements that brought a wave of economic success upon the United States during its emergence in the late 19th century. During this time, there were developments of coal, steel, railroads, telegraphs, chemistry, electricity, corporations, and consumerism, among other business innovations such as mass production. One of the many innovations were railroads, which had finally been established in the United States. The shipment of goods on trains, as opposed to canals, allowed businesses to be open year-round due to the new reliability of shipment schedules in any weather. Additionally, trains could carry up to 50 times the amount of goods at the same cost as shipping via canal, which was costly and inefficient, with no reliable shipment schedule. What’s more, trains allowed people to experience a new sense of speed that they hadn’t …show more content…
The founder of this company – a young man named Andrew Carnegie who came to New York City in 1848 – would eventually create the very successful business, Carnegie Steel, by capitalizing on the advancements of the second industrial revolution. Carnegie’s company invested in iron mail, and their primary focus was turning cheap iron into steel through the process of oxidation in which impurities were removed from the metals. Carnegie Steel began to mass produce affordable steel products by using machinery to replace most laborers, which was another advancement of the second industrial revolution. Carnegie Steel became one of the most successful steel manufacturers of all time and led to Carnegie becoming a self-made millionaire. The innovations introduced by Andrew Carnegie and his steel company played a large role in America’s economic success during the second industrial
Industrial and Transportation Revolution During the late 1800s, the United States economy changed due to new inventions, remarkably rapid growth, and new forms of communication and transportation. Different factories were being built, and manufacturers had begun to reorganize the way of work. Factories and workers were going from hand production to machinery. The Industrial Revolution marked a turning point.
One of the most successful captains of industry was Andrew Carnegie, who entered the steel business and created the Carnegie Steel Company shortly after. By 1899, the steel company manufactured more steel than all of the factories in Great Britain combined. His success was due to the management practices that he initiated. He continually searched for ways to make better products at a lower cost and incorporated new machinery and techniques that helped with tracking precise costs. In addition, he attracted talented people by offering them stock in the company.
Andrew's steel company, Carnegie Steel Company, became the leading and most efficient company in producing steel. Not only did his company make him one of the richest men in the world, but it also helped in the advancement of society. By 1889 his company was the largest steel company in the world. However, shortly after the homestead incident, Carnegie sold his company in January 1901 for 480 million
Eduardo Gonzalez 10-30-16 US History Mr. Aguilera Trains and War The invention of the railroad and trains caused a boom in industrial growth. It allowed goods and people to be transported farther and faster than ever before, but it didn’t only boost economies it also expanded the ranges and longevity of wars. Railroads allowed for larger number of supplies to be transported.
Andrew Carnegie was a significant person in history because he was a wealthy businessman living the American dream, a dream everyone hoped to experience but never did. Coming from humble beginnings, Carnegie came from Scotland to America as a poor immigrant working from job to job before becoming a secretary on the Pennsylvania railroad. He was a diligent worker and was paid in forms of stock which Carnegie eventually sold, allowing him to begin the Carnegie Steel company. By 1900, Carnegie had around 20,000 employees producing more steel than England because he constantly found cheaper production methods for making steel. However, unlike the other monopoly holders, Carnegie donated nearly $350,000 out of the $400,000 to charitable organizations
According to History.com, Andrew Carnegie’s investments and primary holdings consolidated into forming Carnegie Steel Company, which he co-founded. Carnegie’s next few decades were important because the company brought benefits to both the company and the people. He became one of the most powerful people in the world which lead him to become a steel magnate. History.com said, “The steel magnate considered himself a champion of the working man.” According to Learningtogive.org, Andrew Carnegie was the pioneering tycoon of the Age of Steel (Let’s Talk Business Network 2002).
During the time period of 1860 to 1918, numerous new inventions and innovations were introduced into the modern world. Inventions such as typewriters, telephones, electric light bulbs, and radios became essential to the lives of people throughout the industrial world. Additional inventions in the transportation sector, including cars, airplanes, and trains, were developing quickly. Trains especially were viewed as exceedingly influential because they provided useful advantages for present and future generations, notwithstanding the fact that many people were opposed to the formation of such railroads. People were able to appreciate the immediate benefits railroads had to offer along with the long-term advantages for future generations.
Renowned owner of the first mass production company of steel wasn’t always a millionaire, Andrew Carnegie grew from small telegram messenger to large investor in mass production in steel. Carnegie assisted in the railroad business throughout the war, even helping colleagues to invent and patent some of the first sleeping cars for the railroad. After the war he began in the business of the ironworks trade that replaces, in large numbers, bridges with iron, while doing so he used his social skills to benefit the company. Throughout the years he travels and soon learns of a way to mass produce steel from Henry
Andrew Carnegie comes from a humble beginning; as to show he worked when he was a 13 year older at a factory all day long just to later study at night. Andrew Carnegie’s interest in education begins during this period of his life because they lent him books to study, but he grew up he focused mainly on businesses and money. Working as a telegraph messenger boy he gets to know his new boss, the Superintendent of the Pennsylvania Railroad, yet Carnegie later takes his bosses job. Carnegie’s new job gives him the opportunity to invest in companies what were not expected to have to much profits, however, this investments gave him the opportunity to invest in other sectors such as oil. As Carnegie grew rich he founded the first steel company in
He started dedicating most of his time to the steel industry during the next decade. His business changed the way steel was produced and manufactured in the U.S. Carnegie built plants around the country, using different methods and new technology that made producing and manufacturing steel easier and faster. He was the owner of Carnegie Steel Corporation by 1889. It was the largest in the
The early railroad was revolutionary to the transportation industry in America during the Industrial Revolution. It connected the country from the East to the West and changed the formation of the United States and other aspects of the country forever including its economy and population. It had a large impact on trade in the United States and boosted capital, especially in the West. With these railroads, people could travel much more quickly and more efficiently, as well as, transport goods and messages in a timely fashion to others miles away, when any other means would be unconventional or much slower, such as walking or by horseback. The railroad not only impacted the U.S. economy, but it also had a significant impact on social
Railroads created an inexpensive way to transport materials. 75,000 miles of track were laid in the 1880’s. The railroads with their steam engines quickly replaced animals and humans as a means of transportation because of their efficiency. Steam engines moved trains and connected small towns and sometimes isolated communities to larger cities connecting people with one another as well as goods. America was no longer alone, it was in a sense a new way of globalization.
Big tycoons like Carnegie invested in steel manufacturing
The Effect of Trains on America During the 1800’s Trains originated in Britain, invented by a man named George Stephenson. Engines and tracks were originally purchased from England, up until the civil war. At first, there were skeptics about trains, people who worried about their businesses, and people who believed trains to be sacrilegious. Eventually, the economic advantages of trains silenced the critics, and entered America into a new state of development.
You might be wondering how someone of Carnegie’s background became so successful; it was not, opposite to what some might believe, because he worked rightfully. As a starting note, Andrew Carnegie attempted to control as much of the steel industry as possible by using “vertical integration”, a method that resulted in him buying out his suppliers (coal fields, iron mines, ore freighters, and rail lines) in order to control materials and transportation. This later meant that his cost of production would decrease exponentially and he would be able to produce a greater quantity of steel for a much lower price as he now owned all the necessary equipment to make high-quality steel.