Business Leaders in the Gilded Age (Lesson adapted from New Visions)
Introduction During the Gilded Age (1870’s - 1900), the American Economy shifted its focus from an agricultural based economy to one that was steeped in industrialization. As a result of the boom of the American economy, a newly created middle class enjoyed wealth & prosperity. Beyond their reach was an elite group of wealthy businessmen that controlled much of the economic interests of the United States. Nearly all of them started out as entrepreneurs, and amassed large fortunes that would later become wealthy family trusts. These men, such as John D Rockefeller, Andrew Carnegie, Cornelius Vanderbilt, and J.P. Morgan, would not only be defined by their wealth, but would forever be known as “captains of industry” and “robber barons” in studies of American history.
Robber Baron or Captain of Industry? Directions: For each industrialist review the sources provided to you. Each industrialist has been described by historians as both a robber baron and a captain of industry. Based on the resources provided to you, decide if the industrialist was a robber baron or a captain of industry. Write a thoughtful answer to the question and provide two historical specifics to prove your point. Captain of Industry Robber Baron Increased availability of goods Stole from the public Built factories Drained nation of natural resources Raised productivity Corrupted public officials Created jobs Exploited workers with poor conditions and Philanthropy (charity) pay Used unfair business practices
Andrew Carnegie 1. What business was he involved in? Why was this industry important?
2. How did he become a dominant player in his industry?
3. How did he treat his competitors?
4. How did he treat his workers?
5. What did he do with his money?
Was Andrew Carnegie a robber baron or a captain of industry?
John Rockefeller 1. What business was he involved in? Why was this industry important?
2. How did he become a dominant player in his industry?
3. How did he treat his competitors?
4. How did he treat his workers?
5. What did he do with his money?
Was John Rockefeller a robber baron or a captain of industry?
J.P. Morgan 1. What business was he involved in? Why was this industry important?
2. How did he become a dominant player in his industry?
3. How did he treat his competitors?
4. How did he treat his workers?
5. What did he do with his money?
Was J.P. Morgan a robber baron or a captain of industry?
Andrew Carnegie: Source Sourcing Information & Contextualization
American Experience: Biography Secondary Source - Biography written for American Experience by PBS
Today in History - Primary Source Quote & Secondary Secondary Source - Source Blog Post written by Library of Congress
Political Cartoon - Andrew Carnegie plays a double role Primary Source - cartoonist is highlighting the “two faces” of Andrew Carnegie
Westchester Daily Telegram: Cartoon Depicting Andrew Primary Source - illustration of Carnegie's philanthropy Carnegie's efforts as a philanthropist - March 26 1913
Workingman's Prayer for the Masses - 1894 Primary Source - Sarcastic critique of Andrew Carnegie’s philanthropy
History Channel: Homestead Strike Secondary Source – video OR article done by History Channel
John Rockefeller: Source Sourcing Information & Contextualization
John D Rockefeller - Biography Secondary Source - Biography Channel
Political Cartoon - What a funny little government Primary Source - illustrates how much more powerful than the government Rockefeller was
John D Rockefeller - Prager U - Biography Secondary Source - Biography of Rockefeller as told by a historian
Rockefeller Testimony Primary Sources - Testimony from antitrust trial
Ludlow Massacre - Rocky Mountain PBS Secondary Source – Article on Ludlow Mine Massacre & Labor Rights Movement
J. Pierpont Morgan Source Sourcing Information & Contextualization
Annenberg Learner Secondary Source - Essay on JP Morgan and other Page 3 – JP Morgan industrialists written for high school students (page 3)
JP Morgan - History Channel Biography Secondary Source – article History Channel Biography
JP Morgan - Political Cartoon Primary Source - Political Cartoon from the Minneapolis Journal depicting JP Morgan as a monk