Was J.P. Morgan a Captain of Industry or a Robber Baron?

In the late 1800’s, John D. Rockefeller and Andrew Carnegie were both robber barons because they were ruthless and cruel. Rockefeller used mean harsh tactics to make money. In addition to that, Carnegie tried to stop unions in his company that represented his workers. Rockefeller bought out other companies so that people who needed oil would have to buy it from him. He also used thugs to make companies sell if they were stubborn. Carnegie squashed other businesses. Because John D. Rockefeller was able to make a lot of money, he kept using his strategies to get rich. Carnegie received lots of money because of his industry. He also used cruel tactics to make money along with Rockefeller. They were both ruthless when it came to money.

The United States post-Civil War era from 1875 to 1900 experienced massive economic and industrial growth, especially in the North. The rise of new machines, industries (railroad, oil, steel), and buildings contributed to a major upsurge in the prosperity of the American nation. In 1860, no American city had a population over one million; by 1890, three cities had passed the million mark. New York City became the second largest city in the world after London in 1900. The substantial growth of the U.S economically can be contributed to a group of wealthy capitalists that ran businesses/industries and stimulated economic growth. However, historians have argued over whether these capitalists were “robber barons” that were corrupt and took advantage of the American people or “captains of industry” that helped the U.S grow at unparalleled speeds. Wealthy capitalists such as Andrew Carnegie and John D. Rockefeller were indeed “captains of industry” who enlarged American industry and businesses, used their wealth to better their communities, and elevated the United States to new heights as one of the leading industrial powers of the entire world.

J P Morgan- He was rich because his dad worked with the London bank so he was sent to boarding school then put in firm in his father’s association. He became an investment banker in New York with his own firm. He wants to merge rival company He bought out Carnegie steel and Rockefeller oil after merging with them.

Robber Barons cheat and compete to cruel measures. Robber Barons often justify their actions with the Social Darwinism philosophy. They only look out for themselves which meant low wages, bad working conditions, building monopoly, etc. They seek power, wealth, and do not show much concern for their public image. A political cartoon (Document E), Herman, Viola, Why We Remember: United States History, Scott Foresman-Addison Wesley Publishing Company, resembles a monopoly being created which can be interpreted as John D. Rockefeller, a notorious Robber Baron, building his standard oil company with other associations and companies such as, Insurance company, Gas company, Smaller Oil companies, Savings Bank, etc. The New York Times, May 24, 1937 (Document F, lists the major gifts given by Rockefeller by the time of his death the same year, which shows that even though Rockefeller was considered a man of bad morals, he did show that he is charismatic. It also demonstrates how he attempted to balance his bad actions with good ones. In an interview with William H. Vanderbilt(Document A), another well-known Robber Baron, published in the Chicago Daily News, October 9, 1882, he establishes his carelessness by saying things such as “The railroads are not run for the benefit of the “dear public” --- that cry is all nonsense…” and “The public be

The entrepreneur that best embodies the entrepreneurial spirit in America during the Gilded Age is Andrew Carnegie. Andrew Carnegie was the leader of the steel industry during the Gilded Age, officially forming Carnegie Steel Company in 1892. He was a high-risk, high-reward businessman, who calculated his risks and executed them properly; he was prepared to put his entire career on the line to revolutionize the production of steel forever. He continued to think of ways to change the industry throughout his entire career, exemplifying his passion and ambition. On top of this, Carnegie showed great competition among his rivals; most notably with John D. Rockefeller, the owner of the oil monopoly, Standard Oil. Often times, Carnegie would simply

In the 19th century, America was significantly changed by a progressive movement which strived to gain an economic opportunity, religious morality, political honesty and social stability. The efforts of the famous progressives have shaped one of the most powerful nations in this world. The United States is ahead of most of other countries in the business world and continues to make the better products. Nevertheless, America wouldn’t be so economically strong without the contributions of Andrew Carnegie, the wealthy industrialist who showed the world a profitable and proper way to operate a business. Andrew Carnegie is the real reason why American business and economy had become so dominant in the 20th century.

After graduating from the University of Gottingen in 1857, Morgan starting his work in banking along side his father. In 1871 he began a partnership of his own banking firm which was Drexel Morgan and Co,. After conjoining his bank with his father’s after the death of his father the new bank was called J.P. Morgan and Company. It became one of the great and most flourished bank in the world. It had success in America as well as in Europe ("J. P. Morgan."). Morgan’s success helped railroads in efficiency and cooperation and saved the United States economy twice from devastation. His efforts also helped with public finance by organizing a $65 million loan financing that greatly helped investors (“J.P.

A robber baron is defined as, “an unscrupulous plutocrat, especially an American capitalist who acquired a fortune in the late nineteenth century by ruthless means.” Two famous robber barons are James Fisk and Jay Gould.

Throughout the Gilded age, men like John D. Rockefeller, Andrew Carnegie, and John Pierpont Morgan shaped America during the early parts of the 20th century to the present. All three of these men became the top owner of each of their companies during there lifetimes. Rockefeller became the first billionaire in American history through his company Standard Oil and owned ninety percent of the world’s oil. Carnegie became a wealthy businessman through steel and J.P. Morgan succeeded through banking. Of these three men, Rockefeller had the most impact on the American people not only through Standard Oil, but his philanthropically work. Rockefeller turned a small oil mill in Cleveland, Ohio into the most successful business known to man. Many

One man in particular was John D. Rockefeller. Standard Oil Company is where and how he shaped his fortune and would become the largest trust. This was due to the use of horizontal integration which is the process of spinning out the competition by buying rival companies. This practice of business would soon lead to the development of a monopoly. Another way that he would build a monopoly was to expand his

After, the civil war ended the country was divided and needed some way to unite the country and help it grow, and after the train industry helped Cornelius Vanderbilt become the most powerful man in America, it inspired many to become millionaires. One of these was John D. Rockefeller, an entrepreneur that owned an oil company named Standard Oil Co. Rockefeller, a rich businessman, all he wanted was power and he didn't care who he destroyed in the process, which means he is a robber baron.

John D Rockefeller was one of the richest men in history with a net worth exceeding three hundred billion dollars. This massive wealth was because of his monopoly over the oil industry called Standard Oil. This company used the excess junk left from the good oil to make kerosene to fuel lamps, lights, cars, excreta. Rockefeller is what we call a “Robber Baron”, this means someone who is greedy and selfish for power, and wealth. In the 1900s these people were hated to the point of the government suing them for breaking Antitrust Acts and forcing Rockefeller to take down his monopoly over the oil industry.

He co-founded the banking firm that became J.P. Morgan & Co. in 1871, and in the 1880s he established himself as a power player in the

Broad economic imbalance in the cities calls for a new political system because the political structure of late nineteenth era demonstrates the industrial revolution commitment to business and not to the needs of the poor and working class of the country (Schultz 2014,pp 302). The business commitment influences the decline attention of political behavior of American politics towards the African American that impact the politics of reconstruction. The introduction of pro-business agenda in United State politics, Business interest became a main campaign in the nation’s political system which is along side with payment. Political corruption was on high side during the late nineteenth century industrial revolution in national and local level because businessmen exchange cash or stock to obtain land grants, protective tariffs, tax relief, and political support. This exchange led to outburst of public scandals. For instance the Credit Mobilier Scandal of 1832 where representatives from union pacific offered Federal lawmakers stocks in Credit Mobilier Company in exchange of surplus subsidies and land grants for their railroad. The scandal led to taint and investigation of leading politicians of that era.

John D. Rockefeller could be thought of as both a robber baron and a captain of industry because he did many things throughout his career that would make you believe this. In my opinion, Rockefeller was more of a captain of industry because he did a lot of philanthropic work after his retirement from the oil business. Although, he did use illegal and very unethical tactics in order to gain his wealth, and he completely ran his competitors out of business. He would do anything to gain more fortune for himself.