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History Essay

In: Historical Events

Submitted By lucie47
Words 501
Pages 3
8/17/11

Captains of history or Robber barons?

The capitalist who shaped industrial America made the southern industry more developed. Although it shaped society for us today the capitalist went about it the wrong way. Industrialization was often introduced as beneficial to all, profitable even in history. In document I “John D. Rockefeller , testimony to the U.S. Industrial commission, before the house of representatives, 1899.” It says “their chief advantages are:… power to give the public improved products at less prices and still make a profit for stockholders…” this discusses the advantages that the industrial oil company has and how beneficial it was to the public. To add some reality to this there were flaws with industrialization an example is in document H “Clement Studebaker, manufacturer of horse-drawn vehicles, testimony to Chicago Conference on Trusts, 1899” it says “No true monopoly is possible in this country..” The way this quote was perceived was that in this country there was no big money guaranteed. The capitalist were corrupt “Robber Barons”. Industrializing was hard work but not for the capitalists. As in many cases in the south the wealthy had it easy and the poor had it hard and now children were mistreated as well. The wealthy class was considered the superior to the poor. They were the bosses and they benefited a lot from the industrialization of the south. The wealthy had to share their “knowledge” with the poor. Document C “Andrew Carnegie gospel of wealth,1899” it says “This, then, is held to be the duty of the man of wealth:… to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which in his judgment is best calculated to produce the most beneficial results for the community- the man of wealth thus becoming the mere agent and trustee for his poorer 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…” This is discussing the duty as a wealthy person. The wealthy watch over the poor and tell them what to do because they are more “wise”, and they get paid for it when the poor are doing the real work. In “Henry George, progress and poverty 1879” it says “The wealthy class is becoming wealthier but the poorer class is becoming more dependent.”(Document A) even though the poorer class is doing the hard labor the wealthy class is becoming richer. The wealthy can afford mansions but the poor are suffering to work for little to no money. In “library of congress” (document F) it shows a picture of the Vander Bilts “summer cottage.” But it’s a big mansion. What’s a “cottage” to them was a royal palace to the poor. The wealthy is supposedly superior when the poor are doing the work that should be considered superior.

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