Andrew Carnegie's (1835-1919) life is one of America’s most famous true rags to riches story. He was one of the first to establish an American steel industry from 1873 to 1901. He developed educational institutions with his great fortune to help continue to teach people of his country. His success and great ambition assisted the US toward becoming one of the greatest industrial nations in the world.
Carnegie was born on November 25, 1835, in Dunfermline, Scotland. Carnegie was the son of William and Margaret Morrison Carnegie. His father made a modest living as a home linen weaver. Because machine looms were replacing skilled cottage workers, Carnegie's father was put out of business. In 1848, Andrew Carnegie and his family moved to the United States to Allegheny City, where his father got a job for working $1.20 week. With the death of his father in 1855, freed Andrew's desire to help his family, and allowed him to educate himself and learn craftsmanship. From the age 14 to 18, Andrew Carnegie had jobs ranging from being a messenger boy to being a secretary, making about 35$ a month, and was soon raised to $50. In 1873, Carnegie established a steel rail company, as a limited partnership. During the Depression, Carnegie kept persistent in his work. Using his own funds and the help of banks, Carnegie created his first steel furnace. By 1878 he was making $1.25 million in profits by cutting prices, driving out competitors, and faltering partners.
In the 1880s, Carnegie's purchase of majority stock in H. C. Frick Company, with coal lands and coking ovens in Connellsville as his most important acquisitions. In 1867, Carnegie moved to New York to be closer to the marketing center for steel products, while his new partner, Frick, chairman of the Carnegie Company, stayed in Pittsburgh as the general manager. Carnegie's planned expansion movements, management of funds, chemical control, and modernization of plants while Frick, as working director, rationalized the mass production of programs. Carnegie's wealth continued to grow even past the Homestead of 1889 and the war. Because of the ruthless growing competition such as J.P. Morgan and the Moore brothers of Chicago, Carnegie’s interest began to change towards books, music, learning, and education. He began his concentration in education by creating the first free public libraries. Later, he founded the Carnegie Institute of Pittsburg, which blossomed other schools such as the Carnegie Institute of Technology, Mellon Technology, Carnegie Institution of Washington, and the Famous Carnegie Hall of New York.
Despite his wealth, Carnegie has not forgotten his heritage or concern for social justice. He believed in good talent, productive workers, and profit sharing. Before his death Carnegie donated more than $350 million dollars to public foundations. He was dedicated to peace initiatives throughout the world because of his hatred for war. He was labeled a robber baron by critics because he did not increase wages to his employees, even though he had large fortunes. He believed extra spending was wasteful. Regardless of his critics, Carnegie helped lead America to global power.
By Shelita Warren
References:
Carnegie, Andrew. "Gospel of Wealth" (1888, 1998)
Livesay, Harold C. (1999). Andrew Carnegie and the Rise of Big Business, 2nd Edition.
Carnegie was born on November 25, 1835, in Dunfermline, Scotland. Carnegie was the son of William and Margaret Morrison Carnegie. His father made a modest living as a home linen weaver. Because machine looms were replacing skilled cottage workers, Carnegie's father was put out of business. In 1848, Andrew Carnegie and his family moved to the United States to Allegheny City, where his father got a job for working $1.20 week. With the death of his father in 1855, freed Andrew's desire to help his family, and allowed him to educate himself and learn craftsmanship. From the age 14 to 18, Andrew Carnegie had jobs ranging from being a messenger boy to being a secretary, making about 35$ a month, and was soon raised to $50. In 1873, Carnegie established a steel rail company, as a limited partnership. During the Depression, Carnegie kept persistent in his work. Using his own funds and the help of banks, Carnegie created his first steel furnace. By 1878 he was making $1.25 million in profits by cutting prices, driving out competitors, and faltering partners.
In the 1880s, Carnegie's purchase of majority stock in H. C. Frick Company, with coal lands and coking ovens in Connellsville as his most important acquisitions. In 1867, Carnegie moved to New York to be closer to the marketing center for steel products, while his new partner, Frick, chairman of the Carnegie Company, stayed in Pittsburgh as the general manager. Carnegie's planned expansion movements, management of funds, chemical control, and modernization of plants while Frick, as working director, rationalized the mass production of programs. Carnegie's wealth continued to grow even past the Homestead of 1889 and the war. Because of the ruthless growing competition such as J.P. Morgan and the Moore brothers of Chicago, Carnegie’s interest began to change towards books, music, learning, and education. He began his concentration in education by creating the first free public libraries. Later, he founded the Carnegie Institute of Pittsburg, which blossomed other schools such as the Carnegie Institute of Technology, Mellon Technology, Carnegie Institution of Washington, and the Famous Carnegie Hall of New York.
Despite his wealth, Carnegie has not forgotten his heritage or concern for social justice. He believed in good talent, productive workers, and profit sharing. Before his death Carnegie donated more than $350 million dollars to public foundations. He was dedicated to peace initiatives throughout the world because of his hatred for war. He was labeled a robber baron by critics because he did not increase wages to his employees, even though he had large fortunes. He believed extra spending was wasteful. Regardless of his critics, Carnegie helped lead America to global power.
By Shelita Warren
References:
Carnegie, Andrew. "Gospel of Wealth" (1888, 1998)
Livesay, Harold C. (1999). Andrew Carnegie and the Rise of Big Business, 2nd Edition.
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