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Captains of Industry

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or Robber Barons ... Robber Baron people that get ahead in business by shutting off all competition, mainly using illegal practices I. Andrew Carnegie ... – PowerPoint PPT presentation

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Title: Captains of Industry


1
Captains of Industry
or Robber Barons
2
Captain of Industry person who builds a huge
business and helps society.
  • Robber Baron people that get ahead in business
    by shutting off all competition, mainly using
    illegal practices

3
I. Andrew Carnegie - Steel
  • A. Management efficient
  • 1. Tried to make good products cheaply
  • 2. kept accurate records of eveything
  • 3. Hired smart people, let them buy stock
    and rewarded them for efficiency

4
B. Business
  • 1. Cutthroat wanted to control the entire
    steel industry
  • - Vertical Integration controlling
    all aspects of the industry

5
Coal mines
Iron mines these are iron pellets that will be
shipped to make steel
Railroads
How would it help to control all of this?
6
- Horizontal Integration
  • - controlling all the steel companies (or
    as many as he could)

7
C. By 1901, he produced 80 of the steel in the
U.S.
  • Gave away over 500 million
  • that would be 11.6 billion today
  • - obviously, he made A LOT of money about 25
    million per year
  • That can get a fella a pretty nice house

8
Andrew Carnegie
9
Staircase
10
Music room
11
Dining Room
12
In your books . . .
  • Page 448 read about Social Darwinism what
    does it mean? Put the definition in your notes

13
In contrast, the homes of Carnegies workers
14
II. Cornelius Vanderbilt Steamboats, Railroads
  • A. Controlled the steam boat industry until
    selling out in 1863.
  • By then he was worth 40 million (770
    million now)
  • B. Invested in Railroads and made more money

15
Vanderbilt
16
Bedroom
17
Dining room
18
Vanderbilt summer cottage
19
Vanderbilt childrens cottage
20
III. John D. Rockefeller - Oil
  • A. Joined oil companies together in Trusts all
    shared profits illegal
  • B. Standard Oil Company controlled 90 - 98 of
    the nations oil
  • - Had great political power
  • C. Treated everyone badly employees,
    competitors, etc.
  • - did give away over 500 million

21
Rockefellers house
Just kidding
22
Rockefeller
23
Aerial view of Rockefellers estate
24
Rockefeller
  • Robber Baron or Captain of Industry handout

25
IV. J.P. Morgan - banking
  • A. Bought the stock of companies in order to
    control them
  • B. Loaned money to companies, bought their stock,
    put all the businesses together and controlled
    them all
  • - example bought the RR tracks didnt
    even have to buy the RR companies they couldnt
    travel without the tracks

26
  • C. INCREDIBLE wealth
  • D. Bought Carnegie Steel for 500 million
  • Made it bigger it became the first
    Billion dollar company

27
What point is this cartoon making?
28
Morgan
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