“Captains Of Industry” And The American Economy, 1879-1900

“Captains of Industry” and the American Economy, 1879-1900

CHECKING CONSISTENCY An important quality of strong reasoning is consistency. When statements in an argument or passage are incompatible, they are said to be inconsistent. This exercise will give an opportunity to judge the consistency, or compatibility, of several statements with a description of the business leaders who led American industry into a position of world leadership during the Gilded Age, a period of enormous industrial growth and widespread corruption. The following passage represents one view of the business and industrial leaders of the period. Read the passage and also refer to your textbook to answer the questions in Part A and to complete Part B, in which you give your own view.

Between 1870 and 1900 the United States emerged as a world leader in industry and agriculture. The economy of the nation continued to develop under conditions of laissez faire—minimum government interference in business, industry, and trade. Captains of industry and transportation, rising to power during and after the Civil War, dominated the American economy. They brought rapid growth to the nation. Many of them were bold and resourceful men of forceful character.

In their rise to power, these captains of industry and transportation mirrored the accepted standards of the day. Their goal was to acquire wealth, and, during that period, money was the criterion by which achievement of that goal was measured. People who did not succeed as they did were deemed less capable. Most businessmen of the Gilded Age believed economic activity was like warfare. Those who failed to achieve power, influence, and money deserved their fate.

1 Name: ______date: ______period: ______

“Captains of Industry” and the American Economy, 1879-1900

PART A:

Between 1870 and 1900 the United States emerged as a world leader in industry and agriculture. The economy of the nation continued to develop under conditions of laissez faire—minimum government interference in business, industry, and trade. Captains of industry and transportation, rising to power during and after the Civil War, dominated the American economy. They brought rapid growth to the nation. Many of them were bold and resourceful men of forceful character.

In their rise to power, these captains of industry and transportation mirrored the accepted standards of the day. Their goal was to acquire wealth, and, during that period, money was the criterion by which achievement of that goal was measured. People who did not succeed as they did were deemed less capable. Most businessmen of the Gilded Age believed economic activity was like warfare. Those who failed to achieve power, influence, and money deserved their fate.

Decide whether each of the following statements is consistent with the description you have just read; that is, would the writer of the description agree with the statement? Write yes on the line if the statement is consistent with the description. Write no if it is not. Support your decision—either way.

1. _____ “Business leaders held to the belief that the weak would perish. Only those who had strength, conviction, and the will to adapt to new conditions would survive.”

2. _____ “The average citizen would have been outraged by the actual methods and achievements of captains of industry and transportation.”

3. _____ “The captains of industry were nothing more than robber barons.”

4. _____ “Although the business leaders were motivated chiefly by the acquisition of personal wealth, their contributions to the economic good of American society were what really counted in the long run.”

5. _____ “It is no wonder labor unions and farmers protested in the Gilded Age. Irresponsible concentrations of power and wealth had developed that crushed small producers and controlled government.”

6. _____ “The Gilded Age was, according to historian Henry Adams, ‘poor in purpose and barren in results.’”