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However, Rockefeller drastically changed America's economy by bringing in lower oil prices and advancing the oil industry. Near the end of his life, he donated half of his fortune (over a half a billion dollars) to medical research and education. When history passes its final verdict on John D. Rockefeller," wrote Winston Churchill, "it may well be that his endowment of research will be recognized as a milestone" in human progress (Frost). Andrew Carnegie, the founder of the Carnegie Steel Company, created a multi-million dollar corporation that focused on steel production. Carnegie was also labeled as a robber baron because he cut the wages of his workers and didn't seem to care much for his workers' rights. Before his retirement, Carnegie had given away $350,695,653 ("Politics of the Gilded …show more content…
He also helped build three thousand libraries and schools and donated his fortune to artistic pursuits. Even though both of these men can be viewed as robber barons, I believe that most of their actions helped America to become mature and dominant. Without their industrial advances, I think America's industries would be underdeveloped and less powerful than other countries' industries. I believe that these wealthy individuals brought America up to par with the rest of the world by revolutionizing America's economy and society. As the nation became more industrialized, many immigrants migrated to America with the motivation of cheap land, higher wages, and more job opportunities. The population of the country increased by about 27 million people, from about 49 million in 1880 to 76 million in 1900 (White). Immigrants migrated to America from different parts of Europe: Italy, Greece, Poland, Hungary, Russia, Turkey, Lithuania, Romania and Asia: China and Japan. Since there were so many diverse groups of people, several religions and beliefs, such as Catholicism and Judaism, were introduced to other
Andrew Carnegie, the monopolist of the steel industry, was one of the worst of the Robber Barons. Like the others, he was full of contradictions and tried to bring peace to the world, but only caused conflicts and took away the jobs of many factory workers. Carnegie Steel, his company, was a main supplier of steel to the railroad industry. Working together, Carnegie and Vanderbilt had created an industrial machine so powerful, that nothing stood in its path. This is much similar to how Microsoft has monopolized the computer software
Andrew Carnegie and John D. Rockefeller: Captains of industry, or robber barons? True, Andrew Carnegie and John D Rockefeller may have been the most influential businessmen of the 19th century, but was the way they conducted business proper? To fully answer this question, we must look at the following: First understand how Andrew Carnegie and John D. Rockefeller changed the market of their industries. Second, look at the similarities and differences in how both men achieved dominance.
Over the years Carnegie became tired of being in the steel business, so when J.P Morgan and his partners were interested in Carnegie’s Steel Company, Carnegie found that way would be a great way to get out of that world. Carnegie sold his company to them left them to $480,000,000, that was the second smart move for him. In 1901 Carnegie became the richest man alive, and he knew he had to give it away when he died.
Andrew Carnegie, a robber barron that took advantage of his poor employees and his relentless competition, his personal intentions and innovations in the steel industry and philanthropic distributions positively changed America's society and views of education. Early 19th century, the American industrialist of the time, we're gathering good fortunes through Carnegie's ideas and initiatives. This man started out onto the road to wealth and success, starting from rags to the riches and earned the reputation he brought among himself, bringing him into American history. For those who exploited others on the road to wealth were automatically labeled as “robber-barrons" i.e. John D. Rockefeller, Ph.D. Nevertheless, those whose personal success positively impacted the United States, earning the title of the" captains of industry" surprisingly Andrew Carnegie happened to do both.
In the years from 1860 through 1890, the prospect of a better life attracted nearly ten million immigrants who settled in cities around the United States. The growing number of industries produced demands for thousands of new workers and immigrants were seeking more economic opportunities. Most immigrants settled near each other’s own nationality and/or original village when in America.
The want for wealth saturates everyone’s mind at one point or another. Almost everyone dreams of having the large mansion near the beach, the multiple cars, etc., but this money does not just come, it either has to be inherited or earned. During the 1800s, most wealth was inherited, but there were a few self-made men that worked their way from the bottom to the top in order to become wealthy. One man in particular influenced wealthy men to come like Andrew Carnegie and Rockefeller. He was able to begin many of the ideas brought about during the Gilded Age because not only was he a major influence in society, but he greatly changed the economy and the industries he was involved in during that time. Lastly, he modernized commerce for businessmen to come. Cornelius Vanderbilt has become one of the most famous names in American history because of the everlasting positive changes he introduced to the country. Cornelius Vanderbilt was an inspiration for future wealthy personas of the Gilded Age because he fought to limit competition in the developing railroad and steamboat industries; his tactics in these industries lead him to great wealth, which helped him wield enormous power and influence over the American economy and politics.
John D. Rockefeller and other members of his family produced the fuel that powered America and Europe. In fact, 85% of the world's kerosene supply was produced in a company of Rockefeller's in Pennsylvania. J.P. Morgan, a giant in finance was equally successful by capitalizing small businesses and taking private corporations public. His genius for investing and financing was known world-wide. Because of Morgan and investors like him the American economy grew at a rate that the world had not seen before. His "Gentlemen's Agreement" brought stability to a railroad industry that was unstable because of it's incredible growth. The agreement regulated rates, settled disputes and imposed fines for companies that did not abide by the terms of their contracts. J.P. Morgan helped create a centralized banking system and paved the way for what was to become The Federal Reserve. Henry Ford a corporate giant in transportation built the Ford Motor Company and
Document M gives us quotes from Andrew Carnegie’s, “Wealth” in the North American Review, June 1889. He states that he wanted more than just the wealthy to prosper: “The man who dies rich is a disgrace.” He was one of those men who would leave their wealth for public use on his deathbed. He never spent too much of his money because he wanted to “set an example of modest... living…; and… to consider all surplus revenues… as trust funds;” he’s a little bit of a hypocrite. Carnegie’s ideas are criticised for the mistakes along the way, but when his ideas came to be, they made big impacts all around the
Steel Company after a serious, bloody union strike.He saw himself as a hero of working people, yet he crushed their unions. The richest man in the world, he railed against privilege. A generous philanthropist, he slashed the wages of the workers who made him rich. By this time, Carnegie was an established, successful millionaire. He was a great philanthropist, donating over $350 million dollars to public causes, opening libraries, money for teachers, and funds to support peace.
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.”
Immigration has always been a major part of America. In fact, without immigration the creation of America would not have been possible. The majority of immigrants came to America for religious freedom and economic opportunities. However, for the most part before the 1870’s most immigrants were Protestants from northern and western Europe. These immigrants often migrated to the United States as families and usually lived on farms with family or friends who had already migrated beforehand. A lot of immigrants came to America with a plan or goal in mind. They often had saved up money for the long immigration overseas, were skilled in a certain trade, or had already been educated at a high level. Sadly, this would not last. Immigration became so prominent in America between 1870 and 1900 that the foreign-born population of the United States had almost doubled. A lot of German and Irish Catholics had immigrated in the 1840’s and 1850’s, and more decided to immigrate after the Civil War. A portion of Americans were biased against Catholics. Thankfully, the Irish spoke English and the German Catholics reputation was improved because of their Protestant countrymen’s good reputation. However, their children often lacked any skill or education, but they were able to blend in quite well with the American society. More and more immigrants would migrate to the United States without any skill or education and on top of that they were usually poor. These immigrants were called “new” immigrants and they came from all over the world including Italy, Greece, Poland, Hungary, and Russia. However, you cannot blame immigrants for migrating to America. Many immigrants faced religious persecution in their home countries which pushed them away, otherwi...
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.
Immigration to America began when Christopher Columbus discovered the new land now called the American continent. Immigration increased in the 17th century when people came from Europe, Africa, and Asia to the new land. There were many colonies, such as the British and Dutch. When people came they go to their people and find jobs as farmers. The first immigrants were in the east coast around 1607 to 1775 after the number of immigrants increased. In 1790 - 1850 there were few immigrants who came to America, but in 1850 to 1930 the number of immigrations increased (Dolan 4).
The United States experienced major waves of immigration during the colonial era, the first part of the 19th century and from the 1880s to 1920. Many people immigrated to America for
John D. Rockefeller, born on July 8, 1839, has had a huge impact on the course of American history, his reputation spans from being a ruthless businessperson to a thoughtful philanthropist (Tarbell 41). He came from a family with not much and lived the American dream, rising to success through his own wit and cunning, riding on the backs of none. His legacy is huge, amassing the greatest private wealth of any American in history. Rockefeller’s influence on our country has been both a positive and a negative one, he donated huge sums of money to various public institutions and revolutionized the petroleum industry. Along with all the positives to the country, Rockefeller also had many negative affects as well, including, by gaining his riches by means of a monopoly, often using illegal methods, by giving others a reason to frown upon capitalism, and by hurting smaller businesses.