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Birth of Andrew Carnegie
Andrew Carnegie was born in the United Kingdom in Dunfermline to William Carnegie and Margaret Carnegie. William was a member of a working class movement in Scotland that sought to improve working conditions in the nation. Margaret worked in sewing shoes for a shoemaker until the family's subsequent immigration to the US. -
Carnegie Immigrates to the US
At the age of 13, Carnegie and his family immigrated to the US. Carnegie's formal schooling had ended when his family left Scotland. Due to his lack of education, Carnegie got a job at a cotton development factory, working as a bobbin boy earning only $1.20 a week. -
Carnegie Finds a Better Job
At 14, Carnegie found work at a telegraph company as a messenger between different departments of the company. While there, Carnegie caught the attention of Thomas Scott, an executive in the Pennsylvania Railroad company. Scott gave Carnegie a job in the Railroad Company as his personal secretary. -
Advances Through the Ranks
In 1859, Carnegie surpassed Scott and took his job as superintendent. While in this position, Carnegie invested in several companies, such as the Woodruff Sleeping Car Company, Blast Furnaces, and many others. These investments provided Carnegie with an annual salary of $50,000 by the age of 30. -
Leaves the Railroad Industry
After several trips to Europe, Carnegie foresaw the coming need for steel and iron that would be prevalent in the world of railroads and machinery. In 1865, he left the Pennsylvania Railroad to manage the Keystone Bridge Company which offered him opportunities to join the steel and iron development field. -
Founds His Own Steel Company
When Carnegie was 38, he founded J. Edgar Thomson Steel Works, which built some of the first steel plants in the nation. This company eventually evolved into the Carnegie Steel Company. -
Carnegie's Business Grows
Throughout the mid 1870’s, Carnegie’s company became the largest steel manufacturing company in the country. Carnegie adopted several techniques and shortcuts that made the process of steel development faster, yet also more dangerous and risky. -
Carnegie Treats his Employees Poorly
Carnegie, while known for his philanthropic and charitable qualities, treated his average workers with little respect and disdain. Workers spent 12 hours a day each week, in very dangerous conditions, and received very low pay. Some higher level employees were given more respect, such as Henry Clay Frick, Captain Bill Jones, and few others. -
Carnegie Gets Married
In 1887, Carnegie married Louise Whitfield, whom he met while horseback riding in Central Park 6 years prior. -
Carnegie Writes the Article "Wealth"
Throughout his life, Carnegie wrote several pieces of literature regarding politics, the economy, and society. His most famous article was "Wealth" an article outlining the responsibilities and duties of a man with exceeding wealth. The standards in the article later went on to be known as the Gospel of Wealth. "There is little success where there is little laughter.” -
Carnegie Steel Company Thrives
In 1890, Carnegie's company grew to a point that even surpassed the steel production of Britain, the country that started Carnegie's steel production journey. The prosperous conditions of Carnegie's company helped them to thrive even through the Depression of 1892. -
Carnegie Sells Company
In 1901, Carnegie Steel reached its largest point when Carnegie sold the company for 480 million dollars, about 13 billion dollars in today’s money. -
Carnegie Begins his Charitable Endeavors
After selling Carnegie Steel, Carnegie was worth around 380 million dollars, he used that money to establish the Carnegie Trust for the Universities of Scotland, as well as several other charities and donated to many more. -
Carnegie retires
At the age of 66, Carnegie retired after selling his company to J.P Morgan and dedicated most of his time and money to charities and philanthropical endeavors. “As I grow older, I pay less attention to what men say. I just watch what they do.” -
Carnegie Founds his Largest Charity
In 1911, Carnegie founded the Carnegie Corporation of New York, A charity dedicated to sharing and advancing knowledge in the United States at the time. -
Robber Baron or Captain of Industry
In my opinion Carnegie was a little of both, Andrew Carnegie was a successful businessman and leading captain in the steel and iron industry. But he was also seen as a robber baron for his unjust treatment of his workers, Much of Carnegie's fortune was earned off of the money that was saved by giving his employees such low wages. -
Works Cited
“Andrew Carnegie.” Encyclopædia Britannica, Encyclopædia Britannica, Inc., https://www.britannica.com/biography/Andrew-Carnegie.
Andrew Carnegie Grows up Working, https://www.americaslibrary.gov/aa/carnegie/aa_carnegie_work_1.html#:~:text=In%201848%20his%20family%20immigrated,mill%20earning%20%241.20%20a%20week.
Oligopolies, Trusts and Monopolies in the 19th Century, http://www.micheloud.com/fxm/SO/Trusts.htm. -
Works Cited Continued
History.com Editors. “Andrew Carnegie.” History.com, A&E Television Networks, 9 Nov. 2009, https://www.history.com/topics/19th-century/andrew-carnegie.
“Andrew Carnegie Quotes.” BrainyQuote, Xplore, https://www.brainyquote.com/authors/andrew-carnegie-quotes.
“How Did Andrew Carnegie Treat His Workers?” Reference, IAC Publishing, https://www.reference.com/business-finance/did-andrew-carnegie-treat-his-workers-de36d945a374a10f.
