The Industrial Leaders of the 19th Century Should be Admired for their Work
The industrial leaders, Robber Barons, of the 19th century are men who are very respected and admired. Andrew Carnegie was a boy from Scotland who came over to this country with nothing. He continued to save and work his way up in the industry until he had complete control over the steel industry. John D. Rockefeller was also one who came from an ordinary home. When he saw an opportunity, he took it, along with the risks. He came to control the oil industry. Another man that took many opportunities to expand and grow was Cornelius Vanderbilt. These men saw what they needed to do to become successful and they did it. These men's' lives reflected the Darwinian ideology of the times, "survival of the fittest".
Andrew Carnegie came over to this country in 1848, with his family in the hopes of finding a better life for themselves. At age 14, Carnegie became a courier in a telegraph office. Later, he became involved with the railroad industry and soon was Superintendent of the railroad in Pittsburgh. By the age of 30 he had an annual income of $50,000. Carnegie then left the Pennsylvania Railroad and started concentrating on steel. He would eventually open the Carnegie Steel Company. He was introduced to a new process called the Bessemer process for his steel. At first Carnegie was not sure of this new process but took a chance and adopted it into his company.
Carnegie was a brutal challenger and tried to eliminate his competitors. Another tactic Carnegie used to grow his business was to hold a vertical monopoly. The Carnegie Steel Company bought the iron ore deposits and even many of the steel finishing industries. With the magnificent industry he formed and controlled, he decided to sell it and dedicate his life's earnings to benevolent causes. He sold the company to J. P. Morgan, for which he personally received $250 million of the $492 million Morgan paid for it. He supported and began many corporations and institutions. Many positive establishments were created only because of his generous donations. To this day many people are still benefiting from the large Carnegie fortune.
Cornelius Vanderbilt was the most powerful railroad baron. He earned a fortune for himself in the steamship line. He also combined the New York and Harlem and New York and Hudson estate ferry boat operations. He established a connection between New York and Albany to make Lake Shore and Michigan Southern link Buffalo with Chicago. When he died he owned and operated nearly 4500 miles of track between New York City and most...