The Civil War American Industry - 1177 Words

Capitalists shaped the post-Civil War American industry, and were perceived as either admirable industrial leaders or corrupt robbers of the poor. The capitalists and wealthy manufacturers looked highly of themselves, to create an image of generosity and helping the people. However, the poorer farmers and workers reflected on poverty as a cause of the capitalists and trusts keeping all the wealth, and manipulating the industry for personal gain. As mechanization allowed the wealthy men like John D. Rockefeller, Andrew Carnegie, J P Morgan, and Cornelius Vanderbilt to become richer and dominate over the large population of America. Their domination over the working class became domination over the economy of the entire country, and†¦show more content†¦By gaining profit while selling product, the oil company boosted the economy tremendously. Another large business consisted of both Andrew Carnegie and J P Morgan with the innovation of railroads. The Bessemer process for makin g steel and the abundance of coal fueled the railroad industry, with Andrew Carnegie producing most of the steel in the country. J P Morgan contributed with the steel tubing industry, and bought Carnegie’s business, creating the United States Steel Corporation becoming one of the first billion-dollar corporations. Cornelius Vanderbilt was one of the most successful in the railroad industry with the old New York Central railroad, offering railway service at low rates, and founding Vanderbilt University. The railroads stretching into the South and gaining resources from the South made the â€Å"New Industrial South†¦ wide awake to business, excited and even astonished at the development of its own immense resources† (Doc B). Along with â€Å"communication, rapidly opening mines†¦ furnaces, foundries†¦ utilizing the native riches† (Doc B), the South had much more connection through railroads, and began to be regarded similarly to the North in indust ry. The wealthy capitalists, leading the industrial growth becomes â€Å"the mere agent and trustee for his brethren, bring to their service his superior wisdom, experience, and ability to administer, doing for them better than they would or could do for themselves† (Doc C). The top capitalists of the