When it comes to the terms “Robber Barons” or “Captains of Industry” an automatic focus brings and individual to three key historical figures including Cornelius Vanderbilt, John D. Rockefeller, and Andrew Carnegie. Whether or not an individual agrees with the given terms jointly or feels stronger about one way or the other, there is plenty of information to support either side or both sides simultaneously. I feel that as time has gone on from the 19th century to present day the roles have changed from “Robber Barons” to “Captains of Industry” with the continued progression of everyday living. The “Robber Barons” began with Vanderbilt, an aggressive, rude, competitive steamboat owner/operator turned railroad owner. He was known in the steamboat …show more content…
He bought out many railways to connecting routes with whom he had conflicts with which increased his range of transportation. He also incorporated lower rates with better service. With the advancement of connecting railways farmers were mad because they had to compete with a larger range of other farmers and deal with increasing transport prices. Next there is Rockefeller who used Vanderbilt’s tactics to dominate the oil industry. He bought out rival refineries and created the first American monopoly called Standard Oil Company, which he was the over seer. His company controlled almost every aspect of the business necessities including transporting their own goods. They also bought out thousands of acres of land preventing competitors from running their own pipelines. Rockefeller also worked with Vanderbilt to acquire lower railway shipping cost and undercutting competitors increasing his product availability. Third on our list is Carnegie, who was a dominant force in the steel industry. He created the Carnegie Steel Company and owned all the raw materials they needed, including ships and railroads for transporting, and coal fields for fuel the furnaces. Mills gave rise to wage workers instead of people owning farms and their own shops as previously …show more content…
Vanderbilt created the integrated railroad network making standard time, equipment and a standard gauge for all railways. The standard time he incorporated was adopted as the modern standard time system which fixed scheduling problems and gave us our four present day time zones. Carnegie’s growth of Steel Mills employed thousands of workers, and his steel was also used in the construction of the first skyscraper, and the Washington Monument. Rockefeller lead way to future advancements in petroleum uses such as gasoline engines. These three men made way to rapid more adequate transportation, and the availability of steel and oil accessible to more at a cheaper cost. Vanderbilt didn’t give much money away to charities but he did donate $1 million to build Vanderbilt University in Nashville, Tn. Rockefeller donated over half a billion dollars to various educational, religious, and scientific causes including The Rockefeller Institute for Medical Research which is now Rockefeller University. Carnegie gave away about $350 million to various charities including the $1.1 million needed to for the costs of Carnegie Hall. As “Captains of Industry” they contributed vastly to the growth and advancement of American economy even if the way they went about it was
Rockefeller, but were really these false “robber barons” looking to improve their outside image. They had a lack of empathy for those not being their big business partners, allowing them to acquire and maintain substantial amounts of money. In a first hand interview with “Robber Baron” William H. Vanderbilt, when asked “... But don’t you run it (the railroads) for the public benefit?”, Vanderbilt replies saying “The public be damned.
The 19th century saw the rise of railroads in the United States. This, in turn, led to the growth of cities and industries. Cornelius Vanderbilt was one of the railroad tycoons who invested in and controlled the transportation industry, becoming one of the wealthiest people in the country. Another notable tycoon was James J. Hill, who spent his life creating his railroad “empire” in the northwest. Finally, Jason Gould owned the Union Pacific and Missouri Pacific Railroad, moving transportation west.
Captains of Industry or Robber Barons? “What do I care about the law? Ain’t I got the power?” This is a quote from the business magnate Cornelius Vanderbilt, who was the leader of the railroad industry during the Gilded Age. The Gilded Age was a superficial period in the US History, in which the economy grew at a suprising rate.
When Cornelius Vanderbilt died he left his $100 million fortune to his son William Vanderbilt and they both had the same attitude. During the Gilded Age these big business and their owners were thought of as being Robber Barons or Captains of Industry. The poor working conditions that were provided, the corruption they led in government, and their use of child labor shows that they were Robber Barons. Children were used in labor to work a lot and most days of the week. Kids as young as 5 often worked as much as 12 to 14 hours a day for barely any pay.
Greedy Robber Barons monopolized the American economy through horizontal and vertical integrations, driving competitors out of business. J.D. Rockefeller, founder of the Standard Oil Company and one of the richest Americans to ever live, portrayed a classic example of merging other companies to eliminate competition. Maury Klein, the author of The Genesis of Industrial America, explains that “In horizontal integration companies moved to absorb direct competitors. Rockefeller’s first stage of expansion was to acquire all the other oil refineries in Cleveland” (Klein 126).
He had no time or interest in dealing with middlemen and others. John D. Rockerfeller used Horizontal Integration and by forming trusts monopolized the oil industry. J. P. Morgan was in the same mold and during the depression of the 1890s capitalized by consolidating businesses and placing his agents on all of their boards of directors. All powerful men, whose names live on today as corporations that shape our
During the 19th century, industrialization impacted the United States in many way. Industrialists, like John D. Rockefeller, owned or were involved in management of an industry. At the time, these agents were considered a “Robber Baron,” while others were considered a “Captain of Industry.” However, many were considered good because they were philanthropists. John D. Rockefeller was born on July 8, 1839, in Richford, New York.
John D. Rockefeller owned a bunch of oil refineries and instead of drilling for his oil, he focused on refining it. Rockefeller later became the richest man in America of his time. He didn't treat his workers very well. He made them work long shifts and offered very low wages. Vanderbilt linked a railroad connecting the
Barons such as Andrew Carnegie, J.P Morgan, and John Rockefeller dominated the country through the enormous wealth that they amassed. The power that these individuals wielded was unfathomable. They even bought the presidency. It was through their combined might that William McKinley was elected. This pushed their power and wealth to even greater heights.
One reason this name fits better is because they often exploited their workers. Henry George demonstrated this in his book, Progress and Poverty, by talking about the ever growing wage gap between the lower and upper class workers (Doc A). In 1889, a cartoon titled The Robber Barons of Today gave a literal insight as to how awful the exploitation got, showing scrawny farmers surrendering their money to fat well-dressed men (Doc D). The populist presidential candidate of 1892, James B. Weaver, even went as far as saying “trusts had no conscience” (Doc E). Really, the only people who favored the robber barons were the government to expand the U.S. Coal mines would often only take a worker if he agreed to bring his son with him.
After the Civil War, the Second Industrial Revolution was established due to America’s rapid growth for industry and economics. Capitalists during the industrial period of 1875-1900’s were either accused of being a robber baron or a captain of industry. Some capitalists leaders who were accused of being a robber baron or captain of industry included J.P. Morgan, Andrew Carnegie, Andrew W. Mellon, and John D. Rockefeller. A robber baron is a business leader who gets rich through cruel and scandalous business practices. The captains of industry is a business leader who wants to better the companies in a way that it would be positively contributing to the country.
Was Cornelius Vanderbilt a Robber Baron or Captain of Industry? A cruel businessman or an industrious leader? Henry J. Raymond believed that Vanderbilt was “a monopolist that crushed other competitors”(T.J Stiles). While he is also deemed one of America’s leading businessmen, and is also credited for helping shape the United States. His fortunes were made unfairly in some cases but his million dollar contribution to the Navy was very generous.
Most of these people were Robber Barons who had a monopoly. Vanderbilt started off in the steamboat industry as a young man, and was known as being fierce and ruthless. When Vanderbilt grew up, he created his monopoly in the railroad company. He closed off New York to any railroad company until they would give up and sell him the tracks around New York.
With this outgrowth he makes a deal with Tom Scott and Andrew Carnegie to tries to gain even more control of the oil refinery. He eventually controls 90% of the oil refinery in the U.S becoming more powerful than Vanderbilt, and also becoming the first monopoly in U.S. History. Vanderbilt forms an alliance with Tom Scott to try and take back power and stop Rockefeller's monopoly to try to gain back power in the railroad industry. Rockefeller builds a oil pipeline system that spreads across the U.S and the railroad companies' stock
Robber barons, specifically Andrew Carnegie, an industrialist and John D. Rockefeller, a philanthropist, were the chosen, elite members of society according to the doctrine of Social Darwinism. Darwinism is when evolution occurs and the strongest organisms of an ecosystem survive and reproduce to outnumber the weaker, less fit organisms of an ecosystem. Similarly Social Darwinism follows the same concept, but in a capitalist sense of thought. Those who were able to exploit the Gilded Age’s laissez faire economy to their own benefit, like the robber barons Andrew Carnegie of Carnegie Steel and J. D. Rockefeller of Standard Oil, were the fittest members of society because they were able to survive in the grueling and ruthless free economy. By usurping all of the fresh yet unfit immigrants that were flowing into the States due to the rise of urbanization, these two men integrated these easily-manipulated people into their factories to augment their profits.