Industrialist of 19th century

The industrialist of the late 19th century and early 20th century would be characterized as captains of industry. Amongst them was Andrew Carnegie the owner of steel works company and J. Pierpont Morgan a seminal financiers. Andrew Carnegie was born on November 25, 1835. He began his career around 1870. During 1872 Carnegie traveled to London and was introduced to the new Bessemer methods of producing steel. he soon returned to the United States to create a million dollar steel plant. by 1800 Carnegie started to produce 10,000 tons of steel a month. He accumulated $1 1/2 million a year in profit. By the 1900 he was making $40 million a year (Robber Barons and Rebels.) Carnegie was also known by being the author of “The Gospel of Wealth.” J. Pierpont Morgan was born on April 17, 1837. He is known for being a philanthropist and art collector(JP Morgan and Carnegie Corporation website.) Morgan is known as a captain of industry because of all the helped he produced to the country. Morgan helped finance Thomas Alva Edison on his research into a practical electric light bulb, he also helped his company incorporate. Morgan played a huge role in the merges that created U.S. Steel and International Harvest. He also helped by negotiating a truce between the country’s two largest railroad competitors, New York Central and Pennsylvania Railroad. By the 1880s he became the most influential railroad financier in the U.S.. Morgan additionally helped out by calming the panicked markets. Him and his company formed a syndicate to sell $65 million in gold bonds for the U.S. Treasury which helped rescue the United states from a severe two year economic depression (JP Morgan and Carnegie Corporation website.) Andrew Carnegie was also known as a captain of industry. He shared his wealth with others and the good of mankind and society. Carnegie helped provide hundreds of church organs to local communities. He also helped establish a enormous amount of colleges,