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Questions and Answers
Why is Andrew Carnegie important?
Why is Andrew Carnegie important?
He was one of the 'Captains of Industry' who led America into a new industrial era during the late nineteenth century, specializing in steel.
Where was Andrew Carnegie born?
Where was Andrew Carnegie born?
Dumferline, Scotland
What event led to Andrew Carnegie's father's financial ruin?
What event led to Andrew Carnegie's father's financial ruin?
Power linen-looms came to that region of Scotland, undercutting his business.
What did the bobbin factory, the O'Reilly Telegraph Company, and the Pennsylvania Railroad have in common for young Andrew?
What did the bobbin factory, the O'Reilly Telegraph Company, and the Pennsylvania Railroad have in common for young Andrew?
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What is the meaning of the phrase, 'doing things railroad fashion'?
What is the meaning of the phrase, 'doing things railroad fashion'?
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What industry did Andrew Carnegie choose to focus on?
What industry did Andrew Carnegie choose to focus on?
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What was Henry Bessemer's contribution to the steel industry?
What was Henry Bessemer's contribution to the steel industry?
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Who was William R. Jones?
Who was William R. Jones?
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What did Minnesota's Mesabi Range have to do with Andrew Carnegie's success?
What did Minnesota's Mesabi Range have to do with Andrew Carnegie's success?
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What did the Brooklyn Bridge and the Washington Monument have in common in relation to Andrew Carnegie?
What did the Brooklyn Bridge and the Washington Monument have in common in relation to Andrew Carnegie?
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How much did J.P. Morgan pay Andrew Carnegie for his steel company?
How much did J.P. Morgan pay Andrew Carnegie for his steel company?
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What is the name of the book written by Andrew Carnegie in 1886?
What is the name of the book written by Andrew Carnegie in 1886?
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What did John D. Rockefeller, J.P. Morgan, Thomas Edison, and Cornelius Vanderbilt have in common?
What did John D. Rockefeller, J.P. Morgan, Thomas Edison, and Cornelius Vanderbilt have in common?
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What did Herbert Spencer's philosophy contribute to the industrial revolution in America?
What did Herbert Spencer's philosophy contribute to the industrial revolution in America?
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What did William Jones mean when he said 'Andy was born with two sets of teeth and holes bored for a third'?
What did William Jones mean when he said 'Andy was born with two sets of teeth and holes bored for a third'?
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How did Carnegie gain an advantage over Duquesne Steel Works?
How did Carnegie gain an advantage over Duquesne Steel Works?
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How did Hamlin Garland describe the working-class neighborhoods around Carnegie's mills?
How did Hamlin Garland describe the working-class neighborhoods around Carnegie's mills?
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Study Notes
Andrew Carnegie's Significance
- Integral figure in America's industrial transformation during the late nineteenth century, known as one of the "Captains of Industry."
- Specialized in steel production, while others focused on oil, transportation, and communication.
Early Life and Background
- Born in Dunfermline, Scotland, with family facing financial ruin due to mechanized linen-looms.
Career Beginnings
- After relocating to Pittsburgh in 1848, worked in a bobbin factory, the O'Reilly Telegraph Company, and the Pennsylvania Railroad, gaining diverse business experience.
Efficiency in Business
- "Doing things railroad fashion" represented high standards of efficiency and order in business practices, influenced by Carnegie's experiences with the Pennsylvania Railroad.
Steel Industry Focus
- Chose to concentrate his efforts in the steel industry to maximize impact and wealth accumulation.
Bessemer's Innovation
- Henry Bessemer invented the Bessemer Converter, revolutionizing steel production by efficiently transforming molten iron into stronger steel.
Leadership at Carnegie's Plant
- William R. Jones, a prominent plant manager known for his effective leadership and personal connection with workers, contributed significantly to operational success.
Resource Management
- Minnesota's Mesabi Range provided essential iron ore for Carnegie's steelworks; he controlled some transportation routes from the range to Pittsburgh.
Structural Contributions
- Carnegie steel was crucial in the construction of iconic American landmarks like the Brooklyn Bridge and the Washington Monument.
Major Business Transaction
- Sold his steel company to J.P. Morgan in 1901 for $492 million (approximately $20 billion today); the new entity was named U.S. Steel.
Optimistic Writings
- Authored "Triumphant Democracy" in 1886, reflecting his positive outlook on human progress and industry.
Industrial Peers
- Associated with influential industrial leaders such as John D. Rockefeller, J.P. Morgan, Thomas Edison, and Cornelius Vanderbilt, all playing key roles in the era's business landscape.
Social Darwinism
- Herbert Spencer's ideas on "social Darwinism" influenced Carnegie's worldview, promoting the notion that wealth accumulation indicated societal progress.
Business Character
- Described by William Jones as "hard-driving, even ruthless," highlighting Carnegie's aggressive business tactics.
Competitive Tactics
- Compete effectively against Duquesne Steel Works by spreading unfounded rumors about their product quality to undermine competition.
Working-Class Conditions
- Hamlin Garland depicted grim living conditions in working-class neighborhoods, characterized by dirt and poverty surrounding Carnegie's mills.
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Description
Explore the life and contributions of Andrew Carnegie, a pivotal figure in America's industrialization. These flashcards cover his significance, origins, and background, providing an essential study tool for those interested in American history.