We are in an era of great wealth and prosperity in America, but there is a dark secret to this period of economic growth. Cornelius Vanderbilt and Jay Gould are two of the most influential railroad barons of the time, but their business practices are anything but honorable. Vanderbilt and Gould use their immense wealth and power to create monopolies and exploit the railroad industry for their own gain. They manipulate the stock market, bribe politicians, and use intimidation tactics to ensure their success. They also take advantage of the government’s lack of oversight, which allows them to charge exorbitant rates and make unreasonable demands of the railroads they own. The consequences of the actions of Vanderbilt and Gould are devastating.
Entrepreneurs controlled the Gilded Age creating a growing economy with booming businesses and yet this has not changed over the years. John Rockefeller and Andrew Carnegie can be compared to those with the names Steve Jobs and Bill Gates. Multibillionaires, who know what the consumers desire, is what these men are best at. They knew and now know business well enough to be able to control our country’s’ economy. However, these successful business men do not do it together.
The death of President Lincoln sparked a new era in the United States. It set forth new boundaries for what would take place in the American frontier. At age 16, Cornelius Vanderbilt bought his first ferry boat with a loan of $100. With his shipping industry well under way, he was given the nickname of “The Commodore”. He was very competitive and earned the reputation of being a “cut-throat” business man.
Cornelius was someone who was very good at what he did but he didn’t give any pity for anything he did. If you were to work for Vanderbilt you wouldn’t get much money for the hours you were to do. Vanderbilt was one of the first robber barons. His reputation is what got him so rich, and
The late 1800s to early 1900s was filled with new opportunities, new technology, thriving business and wealth. But underneath it all lied great amounts of corruption whether it was beknownst or unbeknownst to the public eye. Jay Gould was a cunning business man. Although he was tactical and did benefit the nations railroad system, many including myself viewed him as a true robber baron of the time period, due to his manipulations in stock. jay Gould had experience with a variety of businesses starting at a young age.
This essay will generally analyze the relationship between the government and businesses, and how “Big Business” essentially took control of the Gilded Age. America’s first true big business mostly arose because of the railroads, which is fairly significant, because it essentially helped lead the development of other business barons such as, John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan who all had particularly extraordinary accomplishments in shaping our economy. Most of these men who created big businesses after the Civil War were driven by a compelling desire to become rich and influential.
In the late 19th century, the United States of America was growing rapidly, especially with the rise of industrial businesses and corporations. Some of the most popular figures that contributed to this growth were John D. RockRockefeller, Henry Ford, JP Morgan and Andrew Carnegie. These multi-millionaire tycoons gained wealth and fame during the “Gilded Age” by contributing to industrialization and the improvement of America as a whole. Although these individuals, and many more are typically known for their support and creation of the industrial revolution, were they “Robber Barons” or were they productive managers of the emerging growth of America?
Morgan, Rockefeller, and Carnegie all had their times when they acted like robber barons but the things they did as Captains of Industry over power what they did wrong which shows they did more good than bad. For example Carnegie donated more than $350 million to further public education, and build over 2,500 libraries. He did have times when he had his workers work long hours with little pay but his good, overpowered his bad. Another example was made by Rockefeller, in 1913, The Rockefeller Foundation was officially established and Rockefeller transferred $235,000,000 to it by 1929. He donated his money and proved he was a captain of industry.
Money. Everyone wants it but doesn’t want to work for it. It’s a common necessity in everyday life and it always will be. These two gentlemen took their passion for money and obtaining fine things and turned it into a profession. Cornelius Vanderbilt and Ted Waitt both had similarities and differences, both strong and weak.
“Much of the blame heaped on the captains of industry in the late 19th century is unwarranted.” (Document F). The Gilded Age was a time where the U.S. economy grew very quickly and rapidly, due to the inventive minds and entrepreneurs of that time; but it has different perspectives of opinions in history today. This era led the U.S. to its state and place in the present world, thanks to its important contributors, (who are involved in the main debate of whether they were robber barons, unethical men who yearn for money, or captains of industry, leaders who add positive ideas and methods to benefit their country.) The industrial leaders of the Gilded Age are captains of industry, worthy of some gratitude and credit for how our society’s structure
Robber Barons and Captains of Industry Some might believe that the businessmen of the Gilded age are robber barons because of how some of them treated their workers and spent their money. The businessmen of the Gilded Age were captains of industry because of the impact that they made on the country. Carnegie, Rockefeller, Morgan, and Vanderbilt all have done things that can identify them as captains of industry. These businessmen gave their time and effort to help the economy grow.
The late 19th century was full of growth, production, and business. People were craving power and seemed to achieve this through any means necessary. Consequently, a new business elite formed consisting of the richest men alive. The way in which these individuals acquired all their profits is something very contradictory even over one-hundred years later. Some historians characterize these businessmen as “robber barons” who used extreme methods to control and concentrate wealth and power, and being supported by multiple sources, this statement is justified but only to some extent.
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.
His work, The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy, allows readers to see a more picture perfect outlook on what the lives of these men entitled. Morris’s book was published in 2005, which allows readers to get a perspective from a long period of time and closer to reality rather than other historians writing on this era. The last author that allows readers to view the Robber Barons in a different manor is James Nuechterlein in his journal article Gifts of the “Robber Barons.” Nuechterlein wrote this article in 2007 allowing readers to view the men through historical resources that he uncovered. His stance shows a more balanced approach to the Robber Barons rather than saying one or the other was a better man than the other.
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.
Ultimately, they worked to twist these concerns into attempts to influence the financial markets (White, 23). During the Gilded Age, the development of transcontinental railroads could now demonstrate a connection between the corruption of information within