Unit 7: The Gilded Age

Robber Barons vs. Captains of Industry

Andrew Carnegie

Andrew Carnegie

both

steel - Carnegie Steel Co. (controlled raw materials, manufacturing, storage, and the distribution of steel)

J.P. Morgan

both

finance - J.P. Morgan & Co. (financed railroads and helped to organize U.S. Steel, General Electric, and other major corporations)

Andrew Mellon

COI

finance - Secretary of Treasury, 1921-1932; reduced national debt and reformed tax structure

Henry Ford

COI

transportation - Ford Motor Co. (world’s biggest automaker)

Jay Gould

Robber baron

railroad & finance - Invested in railroad stocks

Jim Fisk

robber baron

finance - Worked with Gould to profit off of Erie Railroad Stocks; contributed to Black Friday Crisis

Cornelius Vanderbilt

robber baron

transportation - New York Central Railroad (offered rebates and drove out competition; Grand Central Station)

John D. Rockefeller

robber baron

oil - Standard Oil Co. (controlled 90% of oil industry)