Name of Industrialist: Andrew Carnegie (Steel Company) How did he acquire his wealth? Carnegie frequently recognized as one of the wealthiest person ever. He made big bucks from oil business. He also led the growth of the American steel company in the late 19th century.
The late nineteenth century was a pivotal moment in American history. During this time, the Industrial Revolution transformed the nation, railroads had dissipated all throughout the country, and economic classes began to form, separating the wealthy from the poor. One of the wealthiest men of this generation was Andrew Carnegie, a Scottish immigrant who fled to America to make millions off the railroad, oil and even steel businesses. Carnegie is considered one of the richest men in history, and even with all that wealth he decided to give back to the community. As a matter of fact, Carnegie donated most of his funds to charities, universities and libraries in his last few years.
“To try to make the world in some way better than you found it is to have a noble motive in life.” This quote by Andrew Carnegie is a an accurate summary of the way Carnegie strived to live his life. Carnegie’s story began in Dunfermline, Scotland, in 1835, when he was born to lowly weaver Will Carnegie and his wife Margaret(“Andrew Carnegie: Pioneer.”). When Carnegie was thirteen years old, his family along with five-year-old Tom Carnegie, sold much of their belongings and sailed to America specifically Allegheny, PA. Will obtained ownership of a relative’s weaving shp after moving into the two rooms above it.
Rockefeller: The Captain of Industry that has helped our country thrive “The best philanthropy” he wrote, is constantly in search of finalities- a search for a cause an attempt to cure evils at their source” - John D. Rockefeller John D. Rockefeller was the richest man of his time but, used his wealth to improve our country. Rockefeller entered the fledgling Oil industry in 1863, by investing in a factory in Cleveland, Ohio. In 1870 Rockefeller established the Standard Oil Company. With the establishment of the oil company Rockefeller controlled 90% of the oil business in America by 1880.
Billion Dollar Congress (1889)- The Billion Dollar Congress was put on the third level of good because it provided impactful social reforms, but it became interested in the increasing revenues and protecting the Republican industrialist, which led them to favor the upper class on certain circumstances. The fifty-first congress received its nickname from being the first to pass a billion dollar budget, made up of the United States Senate and House of Representatives. The congress provided benefits for the Civil War veterans and increased the amount of the governments purchases of silver, expanding the authority of the federal government. McKinley Tariff (1890)- The McKinley Tariff is in the second level of bad because it gave them no option
By 1881 Washington was approached to take on the role of Principal of the newly formed Tuskegee Institute that was located in one room of the AME Zion Church, with a class of thirty pupils. Washington’s appointment as Principal of Tuskegee was pivotal and mapped the path to what would be his life's work. This essay aims to examine the social, economic and political circumstances that swayed and shaped Washington’s career from the post Reconstruction era through to 1920 and thus provide an analysis of the way his influence and ideology shaped the economic advancement of black
His use of repetition is present throughout his speech, but most used in the excerpt, “If this rise in the cost of steel is imitated by the rest of the industry, instead of rescinded, it would increase the cost of homes, autos, appliances, and most other items for every American family. It would increase the cost of machinery and tools to every American businessman and farmer. It would seriously handicap our efforts to prevent an inflationary spiral from eating up the pensions of our older citizens, and our new gains in purchasing power. It would add, Secretary McNamara informed me this morning, an estimated one billion dollars to the cost of our defenses, at a time when every dollar is needed for national security and other purposes. It would make it more difficult for American goods to compete in foreign markets, more difficult to withstand competition from foreign imports, and thus more difficult to improve our balance of payments position, and stem the flow of gold.”
William Procter, a candle maker, and James Gamble, a soap maker, immigrants from England and Ireland respectively who had settled earlier in Cincinnati made the company primarily. Alexander Norris, their father-in-law called a meeting in which be convinced his new sons-in-law to become business partners. On October 31, 1837, as a result of the suggestion, Procter & Gamble was born. In 1859, sales reached one million dollars. According to this, about eighty employees worked for Procter & Gamble.
The Philanthropy of Andrew Carnegie Made Him a Hero “Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.” Andrew Carnegie believes that if you are fortunate enough to make a lot of money you should also be smart enough to give it back to your community and peers. Carnegie was a self-made man who was born in an attic of a little cottage in Scotland. When Carnegie was twelve he and his family packed up and moved to Pittsburgh.
The Gold and Stock Telegraph Company paid him $40,000. After this he chose to commit his life to inventing. In 1874, Thomas Edison invented a multiplex telegraphic system for the Western Union, which made up to be a quadruplex telegraph that could send two messages at the same time in different directions (“Thomas Edison”). Another invention he created an electric pen in 1875 (“Life of Thomas Alva Edison…”) Tom moved to Menlo Park, New Jersey in 1876 and he built his own research facility and laboratory.
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.
Men like Carnegie, Rockefeller and Morgan could be viewed as "Captains of Industry" and "Robber Barons." Some people may see these men as "captains of industry" because they helped move the nation forward with innovation. Andrew Carnegie who was a Scottish American industrialist ended up leading the huge expansion of the American steel industry. He purchased and constructed Carnegie Steel Company which was in Pittsburgh, Pennsylvania. He built a huge bridge across the Mississippi River which was the first time ever a bridge had been constructed out of steel.
Cornelius Vanderbilt, also famously known as ‘Commodore Vanderbilt’ was one of the richest men in America. He was born on May 27, 1794 on Staten Island, New York. He was brought up in a poor family including a tragic death in his family. At age eleven he dropped out of school and started working on boats which, brought about an interest in the shipping industry. Then at age sixteen he bought his very first ferry with a one hundred dollar loan.
Stephen F. Austin, (1793-1836). Stephen was born in the lead mines in southwestern Virginia on November 3, 1793. In 1798 Moses Austin moved his family to other lead mines in southeastern Missouri and established the town called Potosi in what is now called Washington County. There Stephen grew up to the age of eleven, where his father sent him to a school in Connecticut, from which he returned westward and spent 2 years at Transylvania University in Lexington, Kentucky. At Potosi, Moses Austin was working in the mining, smelting, and manufacturing of lead and, in addition, conducted a general store.
Andrew Jackson was born in 1767 to poor Scotts-Irish parents. Serving as a courier for the revolutionary forces at age 13, he witnessed the deaths of his family at the hands of disease and the British. Jackson, now an orphan, went to live with his uncles and study law. After later being admitted to the North Carolina bar, he became more rich and famous, joining the convention for writing a new Tennessee constitution. He was elected to the senate after serving two years as the first House of Representatives member from Tennessee, and resigned after just one year.