Download Andrew Carnegie

Was Andrew
Carnegie
a Robber Baron or a Captain of
Industry?
Andrew Carnegie was known as the “self made man” of
the steel industry. Working his way up the ladder of
success, Andrew Carnegie became the most powerful steel
tycoon in American during the Industrial Age. In 1851, Carnegie was making
$2.50 a week working in a Telegraph Company. By 1890, the Carnegie Steel
Company was worth well over $500,000,000. In 1870, on a trip to England,
Carnegie saw a process that made steel cheaper and stronger. This was known as
the Bessemer Process, name after the man who invented it. Carnegie took his
idea to the United States and began to use it for his company. Carnegie also
began buying up iron mines, shipping lines and factories throughout the
Midwest. Soon, his company would own all aspects of producing steel. This is
known as vertical integration. Carnegie was known as a worker friendly owner,
but that by no means suggests his workers were highly paid or worked in good
conditions. Often, iron workers struggled working 12-16 hour days for very low
pay. In 1892, in Homestead, PA, workers at one of his plants refused to take a
pay cut by the management of the company and protested by refusing to work.
During the 145 day strike, many riots broke out resulting in the death of 10 men
and the injuring of hundreds of others. The Pennsylvania Governor had to send
in the state militia to deal with the problem. In 1901, Andrew Carnegie sold his
steel company to John Pierpont (JP) Morgan and began a life of philanthropy
(donating large sums of money to charity). Carnegie believed that it was the
responsibility of the wealthy to help make society better. This idea became
known as the Gospel of Wealth. He donated $1,000,000 dollars for building of
libraries in Pennsylvania. Carnegie was responsible for paying for the creation
of over 3,000 libraries in the United States. He also gave $2,000,000 to start the
Carnegie Institute of Technology in Pittsburgh. He was the owner of Carnegie
hall in New York City and donated millions of dollars for the construction on
churches. Carnegie also supported the Tuskegee Institute under the direction of
Booker T. Washington which was intended to provide African Americans with
an education. At the time of his death, Carnegie donated an estimated
$380,000,000 to different charities.