Andrew Carnegie Essay
Andrew Carnegie
Andrew Carnegie was born in Dumferline, Scotland, in November of 1935. His parents were Will and Margaret Carnegie. He also had a brother, Tom. The main income for the geographic location where he grew up was weaving linen. The people who engaged in this type of employment considered this an art since it had relatively unchanged since medieval times. Andrew's father was one of those craftsmen. Since there had been so little change in this type of work, they were really caught off guard when machine production came around. For some, this industrialization was good. The Carnegies were lead to believe that this was the way they should be headed. At first the returns were good for them, but prices and demand fell, and...show more content... He hired Carnegie to be his personal telegrapher and to assist him in dispatching trains over the western division's mountainous main line. Here Andrew was able to really maximize the opportunity set before him. He did public relations work, observations into how shipments were made and received, and mastered the controlling of the division's operations. In 1859, Scott was promoted to vice–president and appointed Carnegie superintendent of the western division. This was Andrew's big break. His knowledge of operations and innovative thinking pushed him to the top of his field. From the years1859–1865, Carnegie expanded the road and increased traffic to an all time high. By doing this, cost per ton–mile fell. This process was his calling. The ability to lower costs. From there Carnegie learned how to make money without lifting a finger: investing. He also learned that it didn't matter whose money was being used for the transactions as long as the return exceeded the cost. It was this type of mentality that led him into investing in sleeping cars, oil companies, and bridge companies at that time. All of these business adventures were not all successes, though. The bottom line for him at this time was to invest no matter what. Carnegie also learned that he could make money off of selling bonds and shares of stock. He had an amazing ability to understand the working structures of the business world. Nothing could escape him. All of this knowledge seemed to be
Get more content
Andrew Carnegie Essay
The richest man in the world, in his time, was Andrew Carnegie. His story of success was truly one of rags to riches. After coming to the U.S. from Scotland as part of a working–class family, he moved from job to job, eventually becoming more influential and gaining a large sum of money. Soon he was using his wealth to contribute to many public services, such as libraries and schools.Andrew Carnegie's life and actions have left a long–standing legacy and have contributed greatly to the American way of life, particularly toward education. Andrew Carnegie was born on November 25th, 1835 in Dunfermline, Scotland. His father was a hand loom weaver and Chartist. Carnegie believed in the importance of birthplace. "I was supremely so in...show more content...
It was not long before Andrew had built his own blast furnace, inspired by Bessemer and his ideas. This was in 1870, and in Braddock in 1874, he had open his steel furnace. Henry Frick was one of his many partners, although he always wanted to stay in control of his ventures. Carnegie was also interested in political and social issues, writing a few books including Round the World in 1881, An American Four–in–Hand in Britain in 1883, and Triumphant Democracy in 1886. He was also a big fan of the educational system in the United States. In June of 1889, an article was published in the North American Review by Andrew about what he referred to as the "Gospel of Wealth". In it, he stated that rich people have a duty to use their wealth towards benefiting the community. In his words, "A man who dies rich dies disgraced.2" In the same year, he made Henry Frick chairman of the Carnegie Company and then moved to New York to do some research. He also spent six months with his family in Scotland. In 1892, Frick realized there was no centralized management for the company and decided to combine everything to form the Carnegie Steel Company. It was worth $25 million and was the largest steel company in the world. Frick became greedy and wanted to increase profits, so he lowered employee wages. Workers began to strike, so Frick hired 300 strikebreakers to resolve the situation. There was a battle that lasted a day and 60 men were wounded.
Get more content
Andrew Carnegie Essay
A man of Scotland, a distinguished citizen of the United States, and a philanthropist devoted to the betterment of the world around him, Andrew Carnegie became famous at the turn of the twentieth century and became a real life rags to riches story.
Born in Dunfermline, Scotland, on November 25, 1835, Andrew Carnegie entered the world in poverty. The son of a hand weaver, Carnegie received his only formal education during the short time between his birth and his move to the United States. When steam machinery for weaving came into use, Carnegie's father sold his looms and household goods, sailing to America with his wife and two sons. At this time, Andrew was twelve, and his brother, Thomas, was five. Arriving into New York on August...show more content...
After retiring, Carnegie's fortune was estimated to be as large as half a billion dollars. From that time on, with the philosophy that the rich have a moral obligation to give away their money, he devoted himself to philanthropy. Although ironic, this man of great fortune strongly believed in the merits of poverty for the development of character and work ethic, and determined that wealthy men should not leave their fortunes to their children, but should give it away, claiming "The man who dies thus rich, dies disgraced." The picture of community service, Carnegie is quoted as saying, "Pittsburgh entered the core of my heart when I was a boy, and cannot be torn out. I can never be one hair's breadth less loyal to her, or less anxious to help her in any way, than I have been since I could help anything. My treasure is still with you, and how best to serve Pittsburgh is the question which occurs to me almost every day of my life."
Colonel James Anderson, who Carnegie believes to be his childhood benefactor, established a public library in his hometown of Allegheny City. This library was the first opportunity for Carnegie to take advantage of free information, and he developed a vast interest for knowledge, checking out at least one book a week, and developing himself as a young boy. With Colonel Anderson's generous contribution to his society molding Carnegie's Get more content
