Essay Robber Barons in America - 1193 Words

Robber Barons in America What is a robber baron? Webster’s New Dictionary defines it as an American capitalist of the late 19th century who became wealthy through exploitation (As of natural resources, governmental influence, or low wage scales) or a person who satisfies himself by depriving another. In America we had a lot of these kind of people. For this report I am going to tell you about the ones that I found most interesting to me. I would first like to tell you about Cornelius Vanderbilt. Cornelius Vanderbilt was born in Port Richmond on Staten Island, N. Y. in 1794. Cornelius at the age of 16 had already stepped into the busniess world and he didn’t even know it. At 16 he entered into the steamboat business when he†¦show more content†¦At the mere age of 16 he went to work for a firm of farm-produce shippers. A couple of years later, he went into that business for himself. In 1862, he went into business with Samuel Andrews, the inventor of an inexpensive process for the refinement of crude petroleum. By 1870 the company had been superseded then in 1870 Rockefeller and his brother William and several associates took over the business. By the 1880’s the company was one of the largest and richest manufacturing concerns in the world. Rockefeller main concern wasn’t always business he married Laura Celestia Spelman in 1864. They had three daughters Bessie, Edith, and Alta and one son John D. Rockefeller, Jr. In 1862 Rockefeller formed the S tandard Oil Trust. This, the first corporate trust, was declared an illegal monopoly and ordered dissolved by the Ohio Supreme Court in 1892. Rockefeller retired as president in 1911. Also in 1911 the company was broken into separate corporations by an antitrust decision of the U.S. Supreme Court. At the peak of Rockefeller’s personal fortune was estimated at almost 1 billion dollars. Rockefeller founded the University of Chicago in 1892. Rockefeller died at the age of 97 on May 23, 1937, in Ormond, Florida. He was buried in Lake View Cemetery, Cleveland, Ohio. When you hear the word â€Å"Ford† more often then not people are going to think of automobiles. This is not surprising because a man gaveShow MoreRelatedThe Role of Capitalists Essay1267 Words   |  6 Pages12/4/14   U.S  History   G  Block   The  Role  of  Capitalists  DBQ   Many  capitalists  worked  to  shape  post  Civil  War  America  through  building  new   businesses  to  employ  many  people  and  create  new  jobs  as  well  as  change  America  through   creating  new  inventions  such  as  a  faster  and  cheaper  way  of  producing  steel  and  discovering   the  uses  and  increasing  demand  for  oil.  All  of  these  inventions  would  change  America,  with   the  faster  and  more  efficient  method  of  steel  production  massive  skyscrapers  rose  in  the   natioRead MoreThe Myth Of Robber Barons By Burton W. Folsom1141 Words   |  5 PagesAishwarya Nandini Jonathan M. Steplyk HIST 1312-012 19 October 2017 Book Review: The Myth of the Robber Barons by Burton W. Folsom The Myth of Robber Barons is a short, but excellent book that talks about the entrepreneurs of early America. It argues against the misconception that the successful businessmen of the 19th century, often called the â€Å"robber barons†, amassed a big fortune by robbing the general public, whereas, they became wealthy because they offered good quality products and servicesRead MorePoor Working Conditions in the Age of Industrialization751 Words   |  3 Pagesresulting in poor working conditions. The texts â€Å"Modern America is Born† by Milton Meltzer, â€Å"Robber Barons and Rebels† by Howard Zinn, and â€Å"Hostile Employers See Yourselves as Others Know You† by Samuel Gompers, talks about poor working conditions that happened during industrialization. The working conditions in the late 1800s and the early 1900s were very poor. In 1869 the completion of the first transcontinental railroad was a new development in America. 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Also, little kids had to work but did not get paid, these kids should not have been working since they let themRead MoreThe Rise Of The Industrial Revolution1007 Words   |  5 Pageswere know as Robber Barons, like Cornelius Vanderbilt, J.P Morgan, Andrew Carnegie and John D, Rockefeller. These men were buying up every business that had any relationship with their companies in order to corner the market and create monopolies. These companies had no restrictions on the business practices and business acquisitions during this time. The U.S was a free market system, there where no government regulations or restrictions on trust or monopolies, which let the robber barons run free andRead MoreCaptains Of Industry Essay1360 Words   |  6 Pagessole purpose of housing their workers. Due to the efforts of these few men, the U.S. economy became the envy of the world, and America became a leading world power. They provided the public with products that were in high demand for reasonable prices, and opened their markets to countries overseas. Although many people believe the early industrialists were Robber Barons who exploited the poor, these great men were truly Captains of Industry who created new ways of doing business, and provided productsRead MoreIndustrialization Causes Corruption in Businesses900 Words   |  4 Pagesenterprises, and other productive economic activity into a society. Industrialization is a huge aspect of society and especially in America. After the American Civil War in 1861, a lot southern plantation owners were living in poverty because they lost their land. Emancipated slaves were also living in poverty because most them didn’t have a job, but as industrialization grew in America, more people were attracted to the cities up North. A lot of southerners and emancipated slaves traveled up North becauseRead MoreThe Capitalists Who Shaped Post-Civil War America956 Words   |  4 PagesAccurately established by many historians, the capitalists who shaped post-Civil War industrial America were regarded as corrupt â€Å"robber barons†. In a society in which there was a severe imbalance in the dynamics of the economy, these selfish individuals viewed this as an opportunity to advance in their financial status. Thus, they acquired fortunes for themselves while purposely overseeing the struggles of the people around them. Presented in Document A, â€Å"as liveried carriage appear; so do barefooted