Andrew Carnegie Andrew Carnegie helped to develop the American economy. He made a company that was in the Dow Jones industrials. He introduced the Bessemer method of steel production to the United States. Think what could have happened without his companies existence, who would have produced steel for transcontinental railroads, the weapons that protect our country against communist threats. Carnegie was not actually native born though, he was born in Scotland and moved to the states at the age of 13. Carnegie had no formal education but quickly learned that the land of opportunity.
Contained the opportunity to exploit the workers who made up his adopted country. He like Rockefeller and Morgan bought their way out of army duty by paying a $300 fee. In 1872 after seeing the Bessemer process in England he returned to the U. S. and built a multi-million dollar steel mill. His business was allowed to survive because the government put in place a number of laws that would make steel made in other countries more expensive.
No book said exactly how these laws were put in place, but I can imagine that the goodwill of politicians can be bought. In 1880 of production Carnegie made 1. 5 million dollars a year in profits, twenty years later it was $40 million per year. This at the expense of men having to work twelve hours a day.
While this point was not made in the books I possessed, I know that Steel plants are not the best to work in from a health standpoint. I can only imagine what work conditions were like back then. There is a story widely accepted as truth that it was at a dinner that Carnegie wrote the price of which he would sell his company for. The number was 492 million sold to J. P. Morgan..
The Essay on Andrew Carnegie Steel Industry Century
... expansion and monopolization of the steel industry and his always generous Philanthropic work. Andrew Carnegie is with out a ... (Henle 1) He donated three hundred and fifty million dollars before he died. In today's market that ... of the Twentieth Century. The progress he made in the steel industry helped rocket the United States into ... 5162000 Over the last hundred years many great people have come and ...
