...Carnegie Steel Company let into a big success with managed to help by his assistant, Henry Clay. As a philanthropist in his later years, Andrew Carnegie wasn't born in wealth because he came from Scotland. He had no access to formal education, in his early life, so he taught himself. He immigrated in the U.S. in 1848 and started a steel company. Steel was needed for railroads, built skyscraper, and cars. Andrew Carnegie was the first to mass produce steel. He practices the vertical integration, a company that involves acquiring companies that supply needed goods. Carnegie owned railroad companies and iron mines because he could produce cheaper steel. This cartoon symbolize Andrew Carnegie on a United States map with a bag of gold that...
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...Andrew Carnegie became the richest man in the world in 1901. Andrew Carnegie was an American industrialist that controlled the steel industry from 1873 until his retirement in 1901. (Andrew Carnegie Encyclopedia) Carnegie focused on becoming the leader of the steel industry and solely on that. He was the driving force behind the shift of the US’s economy from farming to industry. Carnegie also gave $350 million back to the public. (Andrew Carnegie Gale) Andrew Carnegie was born in Dunfermline, Scotland on November 25, 1835. He had one brother named Thomas. The family did not start rich. They were part of the lower class but were starting to work their way up the ladder. Carnegie dreamed that one day he would be rich and fulfill his promise...
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...Andrew Carnegie was one of the wealthiest businessmen during the 19th century due to rise in the steel industry. He was a poor Scottish man turned philanthropist who did not believe in dying a rich man and had made many donations to help expand the Public Library of New York. He wasn’t a gambling man but gambled everything he had to the bettering of the United States. He began working for the railroad and during that time started investing his money. He soon found out that that investing wisely, especially in oil, gave profitable returns that soon led to him leaving the railroad company to focus on other interests like the Keystone Bridge Company. Afterwards Carnegie began dedicating himself to the steel industry, which is what brought him...
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...The 'Gospel of Wealth' is an article written by Andrew Carnegie in 1889. Carnegie discussed and stated that wealthy men such as himself were responsible to use their wealth for the greater good of society. Andrew Carnegie (1835-1919), Scottish-born was an American industrialist who gained a huge fortune in the steel industry then became a major philanthropist. Carnegie worked in a cotton factory in Pittsburgh as a boy. As he grew up in the industry, he ended up becoming superintendent of the Railroad in Pennsylvania, 1859. Originally named “Wealth” and published in the North American Review in June 1889, Andrew Carnegie's article “The Gospel of Wealth” is considered a foundational document in the field of philanthropy. The main point Carnegie...
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...What did the historian Frederick Jackson Turner argue about the importance of the western frontier in American history in 1893? a. The western frontier made the United States different from Europe. Correct Why did the U.S. government decide to move Indians to reservations around the mid nineteenth century? c. The government's policy of pushing the Indians further west to make way for white settlement no longer worked because there was no land left to push the Indians further west. Correct Why did the Indians sign the Treaty of Fort Laramie, which ceded some of their land to allow passage of wagon trains? d. They hoped to preserve their culture and way of life in the face of white settlement of the West. Correct What was the Comstock Load? b. The richest vein of silver ore found on the North American continent. Correct Which is the largest ethnic group in the western mining district of the U. S. in the late nineteenth century? a. Chinese Correct The Chinese men were hard workers but anti-Chinese prejudice barred them from work in which jobs? b. Mining jobs Correct What was the purpose of the Chinese Exclusion Act of 1882? c. To limit and decrease the number of Chinese immigrants to the United States. Correct Which two factors helped stimulate the land rush in the trans-Mississippi West? c. The Homestead Act of 1862 and he building of the transcontinental from the Mississippi River to the California coast. Correct What did the Homestead Act of 1862...
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...Big Business Andrew Carnegie, born in Scotland in 1835, settled in Pennsylvania with his family at the age of 13. He started off working in a cotton factory, later moving to a telegraph company. Here he met Thomas Scott who hired him as a secretary and telegrapher. Scott was a superintendent of the Pennsylvania Railroad’s Pittsburgh division. When Scott moved up to become general superintendent for the railroad, Carnegie, at the age of 24, took over his position within the Pittsburgh division. Carnegie worked for the Pennsylvania Railroad for 12 years, leaving in 1865 (Biography.com, 2010). His first steps toward big business were his investments in a sleeping car company and oil. Both investments paid off handsomely (n.d.). Then, in 1864, he turned towards the iron business. He had contracts with the railroad to build new bridges out of iron replacing the existing wooden ones. In 1872, Carnegie learned the Bessemer process which converted iron into steel. Steel was more flexible than iron and lasted longer (PBS, 1999). In 1875 he opened the biggest steel mill in the world. His final step toward being one of the wealthiest men in the nation was expansion. He bought competitor mills and built new ones. By doing this he had control over the industry and could ensure profits at all stages (Davidson, Gienapp, Heyrman, Lytle, Stoff 2006). In 1901, Carnegie sold his business to J.P. Morgan for $480 million (PBS, 1999). The reason Carnegie did so well is because he knew business...
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...Instructor February 1, 2015 Write a 350-word essay in which you do the following: •Identify what you think to be one of the most significant strikes of the late 1800s or early 1900s. •Describe what it accomplished and what it failed to accomplish. The Homestead Strike was one of the most famous strikes that happen in the late 1800s. This is an example of the struggle between labor union and business owners. In some cases, as at the Homestead, the struggle turned violent. The Homestead Strike was at the Carnegie Steel Mill and owned by Andrew Carnegie. Carnegie thought that the labor union at the Homestead Steel Mill made it harder on the manager to run their business proficiently. Carnegie was out of town at the time of the strike but he knew that it was going to happen so he warned the steel mill top managers. The Labor Union which was called Amalgamated Association of Iron and Steel Workers was highly upset about the pay drop that was going to happen. Because the price of steel was dropping the pay was going to be reduced. The Union member and most other workers decided to have a meeting and they all decided to go on strike because they felt that they did too much for their pay to drop. When the manager decided to hired armed guards to protect the company from the strikers the whole situation became violent. They were also trying to protect the workers that they hired to replace the strikers. Not long after the armed guards appeared the violent quickly approach; guns battle...
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...reform and philanthropic work advanced the transportation system in America and became the richest man in the world. Andrew Carnegie is the man behind the Carnegie Steel Company. Carnegie had a strong work ethic that started at a young age when he began working at a cotton mill for $1.20. He changed jobs several times before meeting, Thomas Scott, the head of Pennsylvania Railroad and becoming his personal secretary. This job is where Carnegie experienced first hand the high demand for steel and oil in America. He took the money that he earned in his secretary position and $500 from mortgaging his house he invested in oil, sleeping carts and the Adams Express Company. These investments gave Carnegie the finances to start the Carnegie Steel Company in 1875. Carnegie had competition when he started his business because the demand for steel was so high and everyone wanted to have a part in it. Carnegie had experience with steel due to his time spent working on the railroads. He knew that the transportation of goods and travelers wasn’t...
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...Major Change from 1865-1914 One major economic change between 1865 and 1914 was the rapid economic growth and prosperity in the U.S. which became to have the most dominant economic, industrial, and agricultural power during this time. The United States had accumulation of capital through a continuing series of investment that just soared dramatically. This economic soar was a turning point for American History and a relief for those who did not have jobs, it was an opportunity for those who did not have job to finally be able seek a better living and a decent job. Robert Higgs, a graduate student wrote a book of the American Economy during 1865-1914. In Robert Higgs book “The Transformation of the American Economy,” he states, “The Gilded Age, lasting from 1865 to World War I, was an era of economic growth never before seen in the history of the world. The standard of living of the modern age was born during this time of phenomenal transition. Lives lengthen. Wealth exploded. The middle class lived better than kings a century earlier” (Transformation of The American Economy). This statement in the book clearly speaks for itself. The economy during this time era was a tremendous upscale in history. The significance of the economic growth during this time meant no more living with the worry of not having a job or having to migrate from city to city just to find a job. This time period brought many people the chance to live a better life and with better pay so to say. Many companies...
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...Andrew Carnegie and John D. Rockefeller where captains of their industry because they were innovators and philanthropists. Carnegie created a new way of creating steel. Carnegie melted down steel a poured it into a shape. This new steel was stronger, lighter and cheaper. This stronger cheaper steel helped in the creation of railroads, elevators and skyscrapers. Now instead of relying on building the next floor of a building on the roof of the last, you could now build on a steel shell allowing more stories than before. Carnegie also donated money to charities and education. He donated $350 million dollars into public education. Also he built over 2500 libraries. Carnegie donated money instead of using it for personal use. He could...
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...Carnegie not only controlled the mills where he manufactured the steel, but he also owned the iron mines where they extracted iron ore, coal mines that supplied the factories coal, the trains and boats that transported the coal and iron ore, and the ovens that coal was coked in (Online Highways). The company also tried to focus on using internal talent from the floor up, rather than buying it from other companies. Because he did not have to pay any middle men, Carnegie could aggressively cost his steel and still make a profit (Online Highways). With his lower prices, Carnegie began to slowly become a monopoly due to being the cheapest option in steel. American Apparel is an example of a modern day company that uses vertical integration. They start by knitting and dying fabrics, and continue all the way to public stores. Due to the lack of middlemen, they are able to cut production costs, and because they are entirely in the United States, they are able to cut shipping costs by not using foreign vendors (American Apparel. This supplies American’s with jobs rather than outsourcing to another country (American Apparel). People like the idea of supporting their country rather than a foreign one, so people tend to buy American-products (Economist), giving American Apparel an advantage over other companies. Vertical integration gives society more competitive prices, meaning the consumer saves money as well as the companies. Vertical integration creates more jobs, leading to more...
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...process that could supply this need further. The Bessemer Process, or the process in which steel is created by melting iron and adding carbon to remove impurities, had been put into place by Bessemer- making situations easier and cheaper. In this, there was increase in the production of steel, and a new age began. As New York City grew, there were a great number of detours as many worked in Brooklyn and lived in Manhattan....
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...Self Made Men. Rugged, independent, and driven: they became pioneers of their time. They lead the way in progress and innovation during the Gilded age. One of history's best know examples of a Self Made Man is Andrew Carnegie, the Steel king . Born in Scotland to hand loom weavers, his family immigrated to America when the mechanization of the cotton industry put them out of work. They settled down in Allegheny, PA where Carnegie worked as an errand boy in a textile mill to support his financially struggling family. He soon gained a job in a telegraph office where he proved himself dedicated when he memorized addresses and names. When his father died he was left the sole supporter of his family at age 20. With little education, Carnegie taught himself at the library and night school. While in the telegraph industry, he proposed new ideas that increased profit in Railways and communication. He invested in sleeping cars, earning $5000 revenue. He founded two successful companies including Keystone Bridge Co., building iron bridges,and Keystone Telegraph Co. which he merged with the Atlantic Telegraph Co. He then traveled between the US and Europe selling Bridge Bonds. Later he took an interest in the steel industry. He invested in the Bessemer method of steel manufacturing and...
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...Social Responsibility Professor: Pete Macky Andrew Carnegie Andrew Carnegie was arguably one of the richest men in America. From his companies emerged the steel to build the infrastructures such as railroads, bridges, automobiles, and ships that would build a nation in need of direction. He played a major role in the transformation into the Industrial Revolution, producing the steels to make machinery and transportation possible. Carnegie built his empire from cost control, low prices, low profits, and high volume to make himself the richest man in the world. Some people call him a villain, some people call him a hero? So, was Carnegie really a business hero in American history? Andrew Carnegie was born in a very poor family from Scotland. His first job was at the age of thirteen; he was working as a bobbin boy in a cotton mill. It was his second job in which he was able to learn many important structures of business. Working most of the day, he never had time to go to school like other kids. Therefore, he went to the library to study whenever he has time. He later was hired by Thomas A.Scott to work as a private secretary and a personal telegrapher. When the Civil War came, he was the right hand man of Scott, who was the supervisor of military transportation for the North back then. Working as Scott’s right hand man, Carnegie was able to gain experience in the railroad industry. After the Civil War, Carnegie took Scott’s former position as superintendent of the western...
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...Industrialization After the Civil War David T. LaPradd Strayer University After the Civil War, the mass production of steel helped shape America. The mass production of steel allowed the country to increase the manufacturing of the equipment. This was significant in the production of the railway tracks and allowed the country to grow. This growth provided jobs for the working class, the ability to move the goods produced to the marketplaces, and moved the people for the expansion to the west. The early production of steel was costly and time consuming. In England, Henry Bessemer developed an inexpensive way to mass produce steel. The key principle behind his patent was to remove the impurities from the iron by oxidation with air being blown through the molten iron. The iron heated up with the oxidation and kept it in a molten state. This new process changed the manufacturing of a rail that took two weeks to produce down to 15 minutes. Andrew Carnegie brought this process back to the United States. Carnegie saw all of the possible uses of this mass produced steel but before he could realize the materials potential he had to convince the public of its strength. He was charged with building the first permanent bridge to cross the Mississippi River by Tom Scott. Building the bridge utilizing this new processing of steel was what he needed. The bridge took four years to build and had many cost overruns. When it was finally completed no one would...
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