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Andrew Carnegie, Andrew Rockefeller, And J. P. Morgan And The Gilded Age

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The Gilded Age was a time period in American history when the economy exploded with railroads and big businesses with the help of: Andrew Carnegie, John D. Rockefeller, and J.P. Morgan. These three were some powerful individuals that helped the economy shoot up. Carnegie helped with steel, Rockefeller with oil, and Morgan with banking. They all were captains of industry in their own way and they all played a big role in revolutionizing the way things currently function. Although some of their methods weren’t great, the effects of their changes helped a ton of people and had many positive outcomes.
Andrew Carnegie was born in Scotland in 1835 and 13 years later he moved to Pennsylvania, and worked at a factory earning only $1.20 a week (Andrew …show more content…
JP Morgan was born in a wealthy family and they had enough money to put JP Morgan into a very well known business school. He started his career as an accountant in 1857 working for the New York banking firm of Duncan, Sherman and Company. He worked for several companies until he hit home, JP Morgan partnered with Drexel, Morgan and Company in 1871 (John Pierpont Morgan, The Editors of Encyclopaedia Britannica, NP). Within just 14 years it will be recognized as JP Morgan and Company. JP Morgan was a man who knew how to handle money, as he controlled a vast majority of the railroad systems and helped reconstruct them. JP Morgan bought his way out of the Civil War for only $300, he also soon purchased 5,000 rifles for $3.50 a gun and puts those guns up for sale for $22 a rifle, only to find out that the rifles are defective and are hazardous towards soldiers shooting them. Morgan is a captain of industry because he did a good amount of charity and donated to libraries. He bailed out the US economy from a two year depression with a deal with president Cleveland and because president Cleveland’s popularity was declining he had to do something about it (Macri, NP). Even though technically Cleveland helped get US out of trouble his popularity decreased even more after the deal got into the news. Morgan truly was a captain of industry because of what he did and how he changed the changed the business world. He even delayed the Great Depression for a couple decades. JP Morgan helped president Grover Cleveland and the US economy which was crucial during that time period to delay the

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