Robber Barons In The Gilded Age

A “robber baron” is defined as one who uses immoral methods to get rich. John D. Rockefeller, king of oil and the owner of the Standard Oil Company, was known for these unscrupulous tactics. Rockefeller’s peculiar ideas of the “law of nature” in accordance with his “primitive savagery” allowed this stealthy businessman to manipulate his way to the top. Although Rockefeller’s oil monopoly attributed to the wealth of the American economy, he destroyed the morality of modest men to accomplish ultimate power and prestige making him one of the wealthiest industrialists during his time.

In the list of the worst CEOs of all time (according to Conde Nast Portfolio), Jay Gould came in at number eight. He would be worth $71 billion dollars today and was one of the the worst robber barons in the 1800s. Jay Gould was born on May 27, 1836, in Roxbury, New York to Mary and John Gould. Jay Gould was an only child. Jay went to school at the Hobart Academy in New York, but he dropped out at the age of 16.

The charge about the old days of the American economy—the nineteenth century, the “Gilded Age,” the era of the “robber barons”—was that it was always beset by a cycle of boom and bust. Whatever nice runs of expansion and opportunity that did come, they always seemed to be coupled with a pretty cataclysmic depression right around the corner. Boom and bust, boom and bust—this was the necessary pattern of the American economy in its primitive state. In the US, in the modern era, all this was smoothed out.

Captains of Industry or Robber Barons? “What do I care about the law? Ain’t I got the power?” This is a quote from the business magnate Cornelius Vanderbilt, who was the leader of the railroad industry during the Gilded Age. The Gilded Age was a superficial period in the US History, in which the economy grew at a suprising rate.

This essay will generally analyze the relationship between the government and businesses, and how “Big Business” essentially took control of the Gilded Age. America’s first true big business mostly arose because of the railroads, which is fairly significant, because it essentially helped lead the development of other business barons such as, John D. Rockefeller, Andrew Carnegie, and J. Pierpont Morgan who all had particularly extraordinary accomplishments in shaping our economy. Most of these men who created big businesses after the Civil War were driven by a compelling desire to become rich and influential.

When Cornelius Vanderbilt died he left his $100 million fortune to his son William Vanderbilt and they both had the same attitude. During the Gilded Age these big business and their owners were thought of as being Robber Barons or Captains of Industry. The poor working conditions that were provided, the corruption they led in government, and their use of child labor shows that they were Robber Barons. Children were used in labor to work a lot and most days of the week. Kids as young as 5 often worked as much as 12 to 14 hours a day for barely any pay.

“Much of the blame heaped on the captains of industry in the late 19th century is unwarranted.” (Document F). The Gilded Age was a time where the U.S. economy grew very quickly and rapidly, due to the inventive minds and entrepreneurs of that time; but it has different perspectives of opinions in history today. This era led the U.S. to its state and place in the present world, thanks to its important contributors, (who are involved in the main debate of whether they were robber barons, unethical men who yearn for money, or captains of industry, leaders who add positive ideas and methods to benefit their country.) The industrial leaders of the Gilded Age are captains of industry, worthy of some gratitude and credit for how our society’s structure

(Document A) These rich businessmen also hated the idea of unions, and even insulted them because they wanted to extend hours with less pay, the opposite of what the unions wanted. An example of one of these businessmen insulting the unions was Henry Clay Frick, president of Carnegie Steel in 1892 who said “...I will never recognize the union, never, never” (Document D) These problems still aren’t fully solved today, there are still wealthy business owners that blame the poor for being poor, and dislike labor

The period from 1870 to 1900, big businesses governed by Robber Barons sprung up and took control of the economy and the political system that governed the American People. The American people responded by forming labor unions and tried to improve the plight of the poor. Laissez-faire

The late 19th century was full of growth, production, and business. People were craving power and seemed to achieve this through any means necessary. Consequently, a new business elite formed consisting of the richest men alive. The way in which these individuals acquired all their profits is something very contradictory even over one-hundred years later. Some historians characterize these businessmen as “robber barons” who used extreme methods to control and concentrate wealth and power, and being supported by multiple sources, this statement is justified but only to some extent.

Thesis : After the Civil War, America was in a post-war boom. During the 1870-1890, big business moguls, such as Rockefeller and Carnegie, create huge corporations which not only affected the economy, but also affected the political realm of America. While many may assume that during the rise of these big business helped to change the economy and politics,  the real focus was on the responses formed by society, such as labor unions, increase public outcry, and political opposition groups that helped to change society. A: Economically, big business flourished during the late 1800s.

Frick got telegrams from Carnegie who told him to send 300 Pinkerton Guards and strikebreakers to stop steel and union workers and to go against them. This made matters worse and led to the killing of nine strikers, three Pinkerton agents and left others severely injured. Frick was even nearly killed by Alexander Berkman, a 25 year old Russian anarchist who shot and stabbed him. The workers were against the Pinkertons that were hired by Frick with orders from Carnegie. Frick was aiming at starting a war with the workers while Carnegie intended to let them fight until they had no more strength.

The industrial revolution brought many great inventions and innovations into the world, especially to America, the new world. The United States had many resources available and more importantly for Americans could utilize them for the nations gain. Many businessmen took advantage of this opportunity by building up their businesses and wealth to a standard that many people still look to as a standard of greatness. Many historians have their take on how the men of the industrial revolution changed not only America, but the rest of the world as well. Authors, Charles Morris, Matthew Josephson, and James Nuechterlein point out to historians that the world is full of many different angles and ideas that one can view regarding the Robber Barons or the successful men of the industrial revolution.

Farmers and Industrial Workers in the Gilded Age In a time when industrialization was booming, immigrants were racing towards the “American Dream”, and cities were growing towards the sky, the United States was thriving. As a country, the United States went from rural, to mostly urban, which made America “the world’s largest industrial power” as stated by John Green. Since the U.S. had become mostly urban, this left the very few rural workers (farmers), and even some of the industrial workers unhappy. This period of industrialization is called the Gilded Age than spans from 1865 to 1900.The farmers and industrial workers responded to the Gilded Age in significantly negative ways including unions against their authority, strikes and political

Extra Credit Paper: Corruption Hidden among the Transcontinental White, Richard. “Information, Markets, and Corruption: Transcontinental Railroads in the Gilded Age” The Journal of American History 90:1 (June, 2993) 19-43 The Gilded Age described an era within the United States History that marked high economic growth and masked serious social problems. An increase in industrialization attracted many to a number of new opportunities to become part of the rising industries.