Captains of Industry or Robber Barons?

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

1. One way John acquired wealth was with The Cleveland Masacre. With this, John struck a deal with the rairoads that transported his oil which resulted in him taking over 22/26 refineries in Cleveland. ~Breana Greene

2. Rockefeller acquired his money through an oil refining company. He extended his enterprise and was very successful in doing so. Being religious, Rockefeller donated some of his money to churches. He also donated money to schools and medical companies.

3. John treated his workers with much respect. He was always hard working and pleasant around his workers. He could also be serious and demanding when it came to business. ~Breana Greene

4. Vanderbilt initially acquired his wealth through the steamship industry, and later the railroad industry. He operated a ferry service, constantly improving upon steamboats, creating the most luxurious and elegant "floating palaces" as they were referred to. Vanderbilt's vessels were massive endeavors and he hired a mass amount of workers. During the Civil War, Vanderbilt supplied the Union Navy with one of his steamships, equipped with the necessary supplies for battle. He purchased a lavish home and donated to Central university (which became Vanderbilt University). Otherwise, he did not frequently spend his money. Vanderbilt would be considered a Captain of Industry because of his contribution to the travel and trade industries that connected the far reaches of our country. -Cassidy Oberfeld

5. Wealth: He climbed the ranks of a telegraph company. Later, he built Pittsburgh's Carnegie Steel Company, which later merged with Elbert H. Gary's Federal Steel Company and several smaller companies to create U.S. Steel. Philanthropy: He believed in the "Gospel of Wealth," which meant that wealthy people were morally obligated to give their money back to others in society. He gave money to towns and cities to build more than 2,000 public libraries. He also gave $125 million to a foundation called the Carnegie Corporation to aid colleges and other schools. In 1902, he founded the Carnegie Institution to fund scientific research and established a pension fund for teachers with a $10 million donation. Joey Fay

6. Morgan began his career as an accountant and worked for several New York banking firms until he became a partner in Drexel, Morgan and Company which was later reorganized as J.P. Morgan and Company. He began to aquire his wealth when he began reorganizing railroads, becoming a board member, and gaining control of large amounts of stock of many of the rail companies he helped restructure. He embarked on consolidations in the electric, steel, and agricultural equipment manufacturing industries. Around the early 1900s he was the main force behind the Trusts, controlling virtually all the basic American industries. Morgan has been described as a "coldly rational man". It seemed he spent his money a lot on art and books as he was among the foremost collectors of art and books of his day. He collected art objects in virtually every medium, including the rare books, manuscripts, drawings, prints, and ancient artifacts. Since the country had no official central bank, Morgan was the country's unofficial lender of last resort.               -Julia Rozman

7. JP Morgan acquired his wealth by joining in a partnership with Drexel, Morgan and Company in 1871. He was a captain of industry because he controlled most of the American Industries and also helped reconstruct rail companies. BY PETIA STOYKOVA

8. How he acquired wealth: as a financier and banker, worked at Hartford dry goods firm Donated money: Donated his father's library to the public, as well as his house to the US for the US Embassy Use of money: Gave loans during World War 1 (such as to Russia -Lisa

9. John D. Rockefeller

10. J. Pierpoint Morgan

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13. Johns Hopkins went into business with his three brothers in which he got his great fortune by investing into the B&O Railroad. Also, he treated his workers well and donated money to make a Johns Hopkins University and a Johns Hopkins Hospital. Johns Hopkins also donated his money to young men with an idea that got refused by the bank to see them grow. He would be a captain of industry because he helped in many ways industrialize his town. ~Samuel Winston

14. Johns Hopkins shipped good to North Carolina and Virginia in exchange for whisky. He sold the Whisky to Africa and by this he undid the work of American Missionaries. After his first year in business he made $200,000. In 1867 he incorporated Johns Hopkins University and Johns Hopkins Hospital When Johns Hopkins died his estate left a sum of 7 million dollars to the hospital and university. At age 50 he became the biggest financial capitalist in Baltimore just after working for 25 years. He lent money to men who couldn't get loans from bankers. He made his investments back and more. Johns Hopkins bought property at the Baltimore Inner Harbor he built office buildings and warehouses. Johns Hopkins was a great entrepreneur! - Grayson Weidel

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15. Johns Hopkins made most money through investments towards railroad businesses. Hopkins founded other businesses and institutions that would be the source of his wealth such as his trading company Hopkins brothers and Johns Hopkins University and hospital. Hopkins treated his partners well and profited from this as well. Johns Hopkins spent much of his fortune towards business investments and projects that were for the better of baltimore. Harry Vancao

16. Hopkins acquired most of his wealth through investments(i.e. the Baltimore and Ohio railroad). However Hopkins also started a company named Hopkins & Brothers. John Hopkins was a supporter of the abolition of slavery and was in turn a strong supporter of the Union. John Hopkins spent most of his wealth on developing Hospitals, a university, a publishing house, and an orphanage for colored children. John Hopkins was no doubt a Captain of Industry since there is no evidence of malice and he was clearly charitable to in creating many of the institutions of Baltimore. ~Graham Sullivan

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17. Cornelius Vanderbilt

18. John Hopkins

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21. partnership to manufacture railroad bridges.                                                                                                                                                               Later he left to run his own enterprises. he marketed and invested in oil and railway sleeping cars but primarily he was in the iron making business. He introduced the cost accounting techniques of the railroad industry and hired trained chemist in the process adopting procedures that cut per unit cost. As a result he emerged as one of the industrys dolminant forces. Carnegie then adopted Henry Bessemers new technology and entered the steel industry. His large amount of financial resources allowed him to buy up his partners stakes cheaply and gain majorityof share enterprise. He defeated many of his competitors by employe wage cuts distributing smart, intelligent business decisions. Overtime Carnegie continued buying stakes like Fricks Coke business. By the 1890s Carnegies steel company was the largest steel producer in the world making him wealthy beyond imagining even reaching to 40 million in revenue in 1900.                                                                                                                                                                     Carnegie later sold his interest to J.P. Morgans syndicate. His personal fortune at that point was 300 million which is equivalent to 6.7 billion in todays time period making him one of the worlds richest men. As a result he distributed his wealth and promoted world peace. By time of his death in 1919 he had overseen the distrubution of nearly 350 million. At the end you can say that Carnegie aquired his wealth from his companys, stakes, and the success in revenue. He did alot of employe wage cuts to improve company revenue. He spent his money buying up other companies and insuring his dominant presence in the industry. Finally you can say that he was very generous and donated a huge share of money to his designated causes.                                                                                 Peter Anakaraonye

22. Carnegie was a Robber Baron because his actions diplayed the characteristics of one. For example he cut employe wages to improve company revenue and then he bought out competing companies. As a result he made a fortunej and completely dominated the steel industry in then world. By Peter Anakaraonye

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25. Carnegi became rich when he started a steel company at a time of high demand for steel. Carnegie treated his workers bad because he put them under long hours and low wages. He spent his money with his family and donated money to promote world piece. -Jose

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