A few tycoons such as Cornelius Vanderbilt‚ John D. Rockefeller‚ J Pierpont Morgan‚ Andrew Carnegie‚ Henry Ford‚ and Jay Gould controlled these massive corporations. These men amassed great wealth in a short period of time at the expense of ordinary people. A common laborer‚ for example would earn less than $10 per
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and the banks that supported them often failed and went bankrupt when the land wasn’t worth as much as initially thought. IV. Railroad Consolidation and Mechanization 1. Older eastern railroads‚ like the New York Central‚ headed by Cornelius Vanderbilt‚ often financed the successful western railroads. 2. Advancements in railroads included the steel rail‚ which was stronger and more enduring than the iron rail‚ the Westinghouse air brake which increased safety‚ the Pullman Palace Cars which were luxurious passenger cars
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Steel: Andrew Carnegie” McCullough‚ “The Brooklyn Bridge: A Monument to American Ingenuity and Daring” “Gilded Age” – Key Terms Transcontinental Railroads Union Pacific & Central Pacific Land Grants Power – natural monopolies: Vanderbilt Industrial stimulation Corruption: stock watering‚ rebates‚ pools Regulation – Wabash case? Interstate Commerce Act (1887) Captains of Industry (Robber Barons) Carnegie – steel (Bessemer process) – “vertical integration” Rockefeller – oil – “horizontal
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(Brinkley 396). According to those in favor of these entrepreneurs‚ these men worked hard‚ innovated technology and strategized competitively to transform the American economy; these “Captains of Industry‚” such as Andrew Carnegie‚ Cornelius Vanderbilt‚ J Pierpoint Morgan and John D. Rockefeller‚ used their wealth to help their communities and should be honored for their philanthropy. An advocate for these entrepreneurs is John S. Gordon. As a specialist of business and financial history‚ Gordon claims
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like Tom Scott‚ Andrew Carnegie‚ John D. Rockefeller‚ and Cornelius Vanderbilt. The most featured of the 4 men of the film‚ and of the time‚ was Cornelius Vanderbilt who had a huge effect on the time. Abraham Lincoln was shot 5 days after the Civil War was ended. This shocked a proud nation that was once again united‚ but this nation had little time to stop progress. The nation was on the rise. Business was on the rise due to 4 men: Carnegie‚ Scott‚ Rockefeller‚ and Vanderbilt. These 4 men were the
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Chapter 24 Industry Comes of Age The Iron Colt Becomes an Iron Horse * After Lincolns death in 1865 the railroad production went up and by the 1900s it had gone up by at least 192‚556 miles * In 1862 congress began to advance liberal money loans to 2 favored cross continent companies and gave them a lot of acres paralleling the tracks. Washington gave the railroads 155‚504‚994 acres & the western states contributed 49 million more. * Land grants to railroads were made in broad belts
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industrialists bribed and used their money to throw politics their way. J.P. Morgan became wealthy a different way. He bought rifles for a cheap price and sold them for a higher one (Zinn 249). Even though the rifles were poorly made and very defective‚ Morgan still became wealthy. He even escaped military service by paying a substitute. Morgan was very important in dealing with many financial crises. After gaining so much money‚ Morgan would use it on buying expensive art collections (History). This was
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period during the Gilded Age‚ late 18th century to early 19th century‚ America’s industrial economy exploded‚ creating pioneering opportunities for individuals to erect substantial wealth. Industrial giants like Andrew Carnegie‚ Cornelius Vanderbilt‚ J.P. Morgan‚ and John D. Rockefeller transformed business and launched in the modern corporate economy‚ but also‚ at times‚ eliminated free-market economic competition through the use of monopolies. Overall national wealth increased significantly‚ but many
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industrialists‚ businessmen or robber barons. Some examples are John D. Rockefeller‚ John P. Morgan‚ and Cornelius Vanderbilt. In fact‚ one notable example is Andrew Carnegie. Nonetheless‚ Andrew was slightly different. He was a philanthropist. One illustration of his philosophies is stated in his article “Wealth.” Conversely‚ the less fortunate made these processes
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Sheila Joseph DNY Leadership Assignment November 10‚ 2010 Great Leaders in the History of New York “The very essence of leadership is its purpose. And the purpose of leadership is to accomplish a task. That is what leadership does-and what it does is more important than what it is or how it works.” This quote by Colonel Dandridge M. Malone‚ shows that leadership needs to be focused on what it accomplishes instead of just being leadership for leadership’s sake. To me‚ a leader is simply
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