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Captains of Industry or Robber Barons? by Mind Map: Captains of Industry or  Robber Barons?
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Captains of Industry or Robber Barons?

Topics to include: How he acquired his wealth. How he (or his related industry) treated workers. How he spent his money. How he donated his money. Robber Baron or Captain of Industry? (Based on what?)

“No price is too great, for a work of unquestioned beauty and known authenticity.” He spent half his fortune on art. -Rekell Simmons

Cornelius Vanderbilt

J. Pierpoint Morgan

Andrew Carnegie

Carnegie

He acquired his wealth by slashing the wages of the workers, who made him rich. -Amelia

He spent his money by giving it away to charity. -Amelia

After Cargnies pro-labor stance the workers at Homestead were not willing to negotiate so, Cargnie's partner had closed the mill, locking out 3,800 men. -Amelia

He supported education that he gave money to towns and cites to build more than 2,000 public libraries. Later, he gave $125 million to a foundation called the Carnegie Corporation to aid colleges and other schools. -Amelia

Carnegie started at the age of 13 working at a textile mill, then went off to work as a telegraph messenger then a telegraph operator. After that he got a job in PA railroad working as an assistant and telegrapher for Thomas Scott. Who later promoted him as a superintendent. -Sofia

Acquired most of his money from the American steel industry. -Sofia

Carnegie was considered a robber baron because he cut down on the workers wages. -Sofia

People mainly remembered him as a captain of industry because Carnegie was a philanthropist, person who gives money to good cause. -Sofia

By 1900, Morgan's railroad cartel controlled almost the entire region of northeastern Pennsylvania.

After the Civil War, he started buying distressed businesses and railroad companies.The biggest deal John Pierpont Morgan was involved in was the forming of the U.S. Steel Corporation. It was the first million-dollar corporation in the U.S. It was worth approximately $1.2 billion. -Rekell Simmons

John D. Rockefeller

John Rockefeller's first job was at Hewitt and Tuttle where he was an assistant book keeper. He started this job in 1855. Very quickly he started impressing his boss with his strong diligence and how concerned with his work he was. He then was given more responsibility and he started arranging complicated transportation skills. He started wanting to build a business of his own so in 1859 he started a commission merchant business with Maurice Clark. Their new business was called Clark and Rockefeller. They each put in 2000 thousand dollars to begin their company. Within the first year they had made a profit of 4400 and by the second year they had made a profit of 17000. Miranda F

Johns Hopkins

Frugal from a young age; his family had to learn to be resourceful with money after his father freed their slaves. (Ariana Torres)

Started his business with substantial investments form family members, after proving himself worthy by working as manager at his uncle's market. From there, he continued to build his fortune. (Ariana Torres)

Invested a lot in the city of Baltimore, for ex. rebuilding the Inner Harbor and constructing the B&O Railroad; wanted Baltimore's success to be linked to him. (Ariana Torres)

Spent lots of his money supporting his family, despite that most of them didn't even know him personally. Family was a huge priority for him, esp. after looking after his siblings when he was young. (Ariana Torres)

Acquired his wealth by owning several buisnesses including a transport and freight service, a schooner, a railroad service, and a steamboat company.- Kylia

He liked to save more money than he spent. The only large purchase on record that he made was his Stanton Island Mansion. -Kylia

He Donated $50,000 to the Church of Strangers and $1 million to Central University which later became Vanderbilt University -Kylia

He treated his related Industry partners like competition. He bought out all the companies that gave him any type of trouble . Basically he used Horizontal Integration. -Kylia

Vanderbilt appears to be more of a Robber Baron as he wasn't that concerned with expanding the industry as much as expanding his own personal wealth. -Caitlinne

Vanderbilt mistreated his workers by having poor working conditions and low wage. -Erika

He donated $1 millon to the largest charitable cause in American history, as well as give 50,000 to the church of strangers. -Erika

Vanderbilt liked making money more then spending it but what he did spend it on was new opportunities for the business and the purchase of his Stanton Island Mansion. -Erika

-Rekell Simmons

Vanderbilt's main way of accruing wealth was to charge much lower rates than all his competitors. -Caitlinne

He bought $200 million government bonds with gold. John Pierpont Morgan saved the government. -Rekell Simmons

John Pierpont Morgan(1837-1913) was one of the influential bankers in history. Some people viewed him as a captain of industry, but others viewed him as a robber baron. He began his career in 1857 as an accountant, and worked for several New York banking firms until he became a partner in Drexel, Morgan and Company in 1871, which was reorganized as J.P. Morgan and Company in 1895. -Rekell Simmons

John Pierpont Morgan treated his workers well and financially rescued the government. In my opinion, John Pierpont Morgan was a great captain of industry. -Rekell Simmons

Andrew Carnegie led the enormous expansion of the American steel industry. He became a bill logger and soon later he progressed up the ranks of telegram company and he built the Pittsburgh "Carnegie Steel Company". He merged with several other smaller companies to create "U.S. Steel". - Sydney

His workers were poorly treated and worked in dirty and poorly ventilated enviorments. They risked injuries and were very much so underpaid. -Sydney

He spent a A lot of his money on libraries, school, and universities in the U.S, U.K , and Canada.- Sydney

Andrew Carnegie was a philanthropist. He made millions and donated to charities, foundations and started a pension fund for his former employees. -Sydney

Andrew Carnegie was considered a captain of industry. Sydney

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Between 1890 and 1913 Pierpont organized giant industrial corporations, primarily with American capital. In 1901, Pierpont bought out Andrew Carnegie and launched the U.S. Steel Corporation, the largest corporate enterprise the world had known to date–a gigantic assemblage of mills, mines, land, and modes of transport that gave him control of almost half of the nation's steelmaking capacity.

At a time when the United States had no central bank, Morgan served as the country's unofficial lender of last resort. In 1907 Morgan, then nearly seventy, stopped a major public panic in New York by rallying fellow bankers to supply liquidity to shore up the endangered economy. The crisis was resolved in Morgan's newly built Library, after he locked the doors and refused to let the bankers leave until they agreed to a rescue plan. For his efforts he was hailed as a national hero. The exercise of so much power by one private citizen, however, appalled many, and Morgan was accused of manipulating the situation for personal gain. This led to the establishment of a National Monetary Commission and eventually to the founding of the Federal Reserve.

The death of Morgan's father, Junius, in 1890, signaled the beginning of his collecting in earnest. Junius Morgan's estate was valued at roughly $12.4 million; his son assumed leadership of the family's highly profitable London banking house. At age fifty-three, Morgan had the financial resources to acquire on a truly grand scale.

J. P. Morgan began career as an accountant in 1857. - Jakobi P

Began reorganizing railroads in 1885. Rebuilt many railroad companies and gained a lot of stock from it. This is where he got most of his money. - Jakobi P

Controlled almost all industries in the early 1900's. - Jakobi P

Supplied the U.S. Treasury with 3.5 million ounces of gold in 1895. - Jakobi P

Donated to schools, churches, and charities. Donated art collections to museams and his book collection went to his library which was later donated to the public by his son. - Jakobi P

Captain of Industry since he rebuilt other companies to bring the railroad business back. He did not only focus on himself, he gave back to the people too. - Jakobi P

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