Born in Dunfermline, Scotland in 1835, Andrew Carnegie will soon aid in shaping the industrialization and urbanization movement in the 19th and 20th centuries. His early life leads up to his innovations and the becoming of being the wealthiest American of his time.
Dunfermline was the center of a linen industry and William Carnegie, Andrew’s father, was a weaver. The emergence of the industrial revolution soon put hand weavers out of business. Faced with poverty, the Carnegies spent 20 pounds, which is about twenty five dollars in the U.S., to pay for the fare of the Atlantic passage in 1848. When they arrived to America, they first reached New York City, from there they traveled by steamboat 370 miles to Allegheny, Pittsburgh. The Carnegies
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Woodruff offered Andrew Carnegie a share in the Woodruff Sleeping Car Company; in order to accept this offer, Carnegie had to secure a bank loan. The loan was paid off relatively soon as sleeping cars became more and more popular. After about two years, Carnegie began receiving about $5,000 annually. While also investing in the sleeping cars, Carnegie developed the Keystone Telegraph Company with several associates from the railroad in 1867. The company strung telegraph wire along the Pennsylvania Railroad, which stretched across the entire state. While Carnegie’s business life was progressing, his love life was just beginning. In 1870, Andrew Carnegie met 21 year old, Louise Whitfield through a mutual friend. It isn’t until 1880 that Louise and Andrew began showing an interest in each other. Seven years later, they married and Louise agreed to a prenuptial agreement. It was apparent that Carnegie wanted his money to go towards organizations he created or felt needed to be supported. Carnegie built libraries all around the U.S. and even throughout his hometown, Dunfermline. He founded 2,509 libraries, of those, 1,679 were built in the United States at the cost of $55 million. Carnegie also established several institutions such as: Carnegie Trust for the Universities of Scotland, Carnegie Foundation for the Advancement of Teaching, Carnegie Museums of Pittsburgh, and Carnegie Endowment for
I would first like to tell you about Cornelius Vanderbilt. Cornelius Vanderbilt was born in Port Richmond on Staten Island, N. Y. in 1794. Cornelius, at the age of 16, had already stepped into the business world and he didn’t even know it. At 16 he entered into the steamboat business when he established a freight and passenger service between Stanton Island and Manhattan. Little did Cornelius know this would be one of the key ways he would make millions upon millions.
Andrew Carnegie was a man who was born poor, but wanted to change many lives for those who were like him. Since he was able to walk, he started to work he was a bobbin boy in Pittsburg. Carnegie would work 12 hours a day to
Andrew Carnegie, was a strong-minded man who believed in equal distribution and different forms to manage wealth. One of the methods he suggested was to tax revenues to help out the public. He believed in successors enriching society by paying taxes and death taxes. Carnegie’s view did not surprise me because it was the only form people could not unequally distribute their wealth amongst the public, and the mediocre American economy. Therefore, taxations would lead to many more advances in the American economy and for public purposes.
Speaking of where that money, in document #10 we see a small cartoon post from The Saturday Globe, Utica, New York, July 9, 1892. At the bottom it conveys, “Forty Millionaire Carnegie in his Great Double Role” With this message, it displays Carnegie both giving away a Library to Pittsburgh and money to Scotland, and cutting wages from workers. This drawing signifies what he does with the money rather than paying his workers with that money. Looking at wages in document #7 helps to see how much a worker are paid in a chart, even though iron and steel workers look like they have decent wages(daily hrs. 10.67, daily wages 1.81), it was to many unfair wages. Compare this to Carnegie’s daily “wage” was ninety two grand! Confirming wages are unfair.
Andrew Carnegie was born in Dunfermline, Scotland in 1835. His father, Will, was a weaver and a follower of Chartism, a popular movement of the British working class that called for the masses to vote and to run for Parliament in order to help improve conditions for workers. The exposure to such political beliefs and his family's poverty made a lasting impression on young Andrew and played a significant role in his life after his family immigrated to the United States in 1848. Andrew Carnegie amassed wealth in the steel industry after immigrating from Scotland as a boy. He came from a poor family and had little formal education.
He went to London in 1872, saw the new Bessemer method of producing steel, and returned to the United States to build a million-dollar steel plant. Foreign competition was kept out by a high tariff conveniently set by Congress, and by 1880 Carnegie was producing 10,000 tons of steel a month, making $1 1/2 million a year in profit. By 1900 he was making $40 million a year, and that year, at a dinner party, he agreed to sell his steel company to J. P. Morgan. He scribbled the price on a note: $492,000,000.”
Chapter three Pittsburg and Work of Andrew Carnegies autobiography starts off with a 13-year-old Carnegie thinking about going to work. He already determined that his family should be able to make 300 dollars a year, which would keep them from depending on others. Uncle Hogan had already seen the businessman in Carnegie at a very young age. He tells Carnegie that he was a likely boy and apt to learn; and believed that if a basket were fitted out for him with knickknacks to sell, he could peddle them around the wharves and make quite a considerable sum. This comment by Uncle Hogan leaves Carnegies mother outraged. She wanted her two sons Carnegie and his brother to always be honorable, respectful and always do what is right. Soon after the incident Carnegies father gave up handloom weaving for the cotton factory. This decision also granted Carnegie a position as a bobbin boy, where he made one dollar and twenty cents per week. Carnegie will go on to make millions after, but he
Andrew Carnegie believes in a system based on principles and responsibility. The system is Individualism and when everyone strives towards the same goals the system is fair and prosperous. Carnegie’s essay is his attempt to show people a way to reach an accommodation between individualism and fairness. This system can only work if everyone knows and participates in his or her responsibilities. I will discuss Carnegie’s thesis, his arguments and the possible results of his goals.
To understand Carnegie before he became a wealthy man, he grew up poor working for $1.20 a week (Document LV). At the age of 50 years, he took a risk by investing in a package delivery company. His gamble paid off and he gained money to start his company, Carnegie’s Steel Company. Eventually, his company grew and caused
In Harold C. Livesay’s Andrew Carnegie and the rise of Big Business, Andrew Carnegie’s struggles and desires throughout his life are formed into different challenges of being the influential leader of the United States of America. The book also covers the belief of the American Dream in that people can climb up the ladder of society by hard work and the dream of becoming an influential citizen, just as Carnegie did.
Andrew Carnegie was born in November 25, 1835 and died when he was 84 on August 11, 1919. He was born in Dunfermline, Scotland but his family eventually moved to America in search of better economic opportunity. They settled in Pittsburgh, Pennsylvania. When his family left Scotland, his education stayed and ended there. Therefore, he had very few years of schooling. Fortunately, this did not stop Andrew Carnegie from becoming a “Man Who Built America”.
With all his businesses, investments, and accomplishments, Carnegie still struggle with some of his partners and managers, especially after his brother Tom dies. He hires Henry C. Frick and names him chairman in 1889, pleased with his choice as Frick increases profits from $2 million to $5.4 million by 1890. However, times become difficult during a four-year depression and strike, damaging Carnegie’s reputation. He comes to lose trust in Frick, and their relationship suffers as they disagree on managerial issues. Frick resigns and Carnegie forces other partners out to cut cost and labor. He monopolizes the industry, making a deal with John D. Rockefeller to purchase his iron ore, keeping him from becoming competition in the steel industry. At 63 years old, Andrew Carnegie is approached to sell Carnegie Steel to an unknown buyer, whom Frick vouches for. However, because he is suspicious of Frisk, he seeks out the mystery buyer. After revealing Frisk’s dishonesty, Carnegie eliminates him from the buyout deal, causing a year-long conflict. That conflict results in Frick taking a loss and Carnegie taking control of both Carnegie Steel and Frisk Coke, worth $320 million in capital. The Carnegie company is later sold
In the documents titled, William Graham Sumner on Social Darwinism and Andrew Carnegie Explains the Gospel of Wealth, Sumner and Carnegie both analyze their perspective on the idea on “social darwinism.” To begin with, both documents argue differently about wealth, poverty and their consequences. Sumner is a supporter of social darwinism. In the aspects of wealth and poverty he believes that the wealthy are those with more capital and rewards from nature, while the poor are “those who have inherited disease and depraved appetites, or have been brought up in vice and ignorance, or have themselves yielded to vice, extravagance, idleness, and imprudence” (Sumner, 36). The consequences of Sumner’s views on wealth and poverty is that they both contribute to the idea of inequality and how it is not likely for the poor to be of equal status with the wealthy. Furthermore, Carnegie views wealth and poverty as a reciprocative relation. He does not necessarily state that the wealthy and poor are equal, but he believes that the wealthy are the ones who “should use their wisdom, experiences, and wealth as stewards for the poor” (textbook, 489). Ultimately, the consequences of
Morgan, Rockefeller and Carnegie were all robber barons. They all showed that they were robber barons because they were all cruel and ruthless. John d. Rockefeller was a cruel and inhuman person to his worker. He treated his workers like slaves, low pay, long working hours and he disliked union activity from anyone. Andrew Carnegie another ruthless person that would stop at nothing to win. He would compete against others and fiercely try to squash the opponents. He was a very possessive and control person.Morgan mount govern one of the less cruel and ruthless of the two powerful businessmen. Morgan criticized for creating monopolies by making it difficult for any business to compete against his own. These three business man all have done bad
Carnegie saw how bad the wooden railroads were, so he proceeded to slowly replace them with iron ones. Carnegie's charm, perception, and hard work led to becoming one of the world's most famous men of the time, and led to the first corporation in the world with a market capitalization in excess of one billion when he sold his companies to John Morgan who called them United States Steel Corporation.