How Did Andrew Carnegie Contribute To Capitalism

Haley Farrell
8/7/14

AP U.S History Summer Assignment

• Andrew Carnegie was an industrialist who influenced the enlargement of the American steel industry in the conclusion of the 19th century. In his era, he was one of the most well-known philanthropists who had also given most of his wealth to charities and foundations. Carnegie believed that those who are wealthy should distribute their riches to work towards amelioration of society and to reduce the gap between socioeconomic statuses, which he expressed in an article called “The Gospel of Wealth” in 1889. Andrew gained his fortune by investing in railroads and bridges in the 1860’s and then later became a bond salesman in which he worked to elevate American enterprise in European countries. He built Carnegie Steel Company which he sold in 1901 for almost $500 million dollars and further created the U.S Steel Corporation. -Gilded Age

• John Rockefeller was a highly influential American industrialist as well as a well-known philanthropist. Rockefeller co-founded the Standard Oil Company in 1870 which prevailed in the oil industry, was the largest corporation in the world, as well as became the first U.S corporate trust. John transformed another industry

Aguinaldo led the Filipino military opposing Spain towards the end of the war from 1896-1897 and again in 1898 in the Spanish-American war. He also later led the Filipinos against the U.S in 1899-1901 in the Philippine-American war and was seized by American forces in 1901. The Japanese invaded the Philippines in 1941, 6 years after Emilio lost the race to become President of the Philippine Commonwealth. After the Japanese invasion, Aguinaldo started to cooperate with Manuel Quezon and capitulated the American and Philippine forces in Bataan, a peninsula in the Philippines. Although later pardoned for his crime, Emilio Aguinaldo was apprehended as a