Captains Of Industry
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In the late 1800s and early 1900s, during the climax of the American Industrial Revolution, there was a small group of men who owned the major businesses and were leaders of their industries. They owned factories, railroads, banks, and even created company towns for the sole purpose of housing their workers. Due to the efforts of these few men, the U.S. economy became the envy of the world, and America became a leading world power. They provided the public with products that were in high demand for reasonable prices, and opened their markets to countries overseas. Although many people believe the early industrialists were Robber Barons who exploited the poor, these great men were truly Captains of Industry who created new ways of doing business, and provided products and services to the public; moreover, they were generous philanthropists who contributed much to society.
Many people believe that these “Robber Barons” were evil, heartless men that took advantage of the poor and the downtrodden. They feel that the workforce employed by these men was nothing more than a group of indentured slaves. “Here was a population, low-class and mostly foreign, hanging always on the verge of starvation, and dependent
for its opportunities of life upon the whim of men every bit as brutal and unscrupulous as the old-time slave drivers;” (Sinclair 106). “The corporate robber barons and monopolists of the 19th century stole from the poor while the government looked the other way.”(Gallagher) These industrialists made an enormous amount of money from their businesses and controlled their various markets through vast monopolies. They paid their workers very little money for extended periods of labor, and would continuously think of new ways to make an extra buck. Overall, these men were very scrupulous in the way they did their business, and they had very little patience for error and unproductiveness.
Although some of these criticisms are well founded, men like Andrew Carnegie and John D. Rockefeller were, in fact, Captains of Industry because they employed millions and created new ways of doing business. Before all these industrialists can along, America was just another country that had little significance to the world. If it was not for them, we as a nation would not be where we are today. The industrialists prospered mainly due to their wit, and the many innovations that they brought to their various fields of business. They created monopolies because they were the most effective forms of enterprise, and there were no laws that prohibited or restricted their use. As John D. Rockefeller himself said, “I believe in the spirit of combination and cooperation when properly conducted.It helps to reduce waste, and waste is a dissipation of power.”(Danzer 424) Critics say that these men ruthlessly took over their fields of business, and “did not play fair”. Whats wrong with striving for success? Whats wrong with being efficient? Whats wrong with making a product that no one can equal? Whats wrong with besting your competitors? Nothing.
The principal reason for the success of the industrialists was their ability to provide products and services to the public at reasonable rates. This was also the main reason that they were so despised and vilified by their competitors and the covetous public. Andrew Carnegie defended his wealth saying, “It will be a great mistake for the community to shoot the millionaires,…for they are the bees that make the most honey, and contribute most to the hive even after they have gorged themselves full.”(Danzer 424) Of the many competitors who failed to make such a huge profit as these industrialists, many became “sore losers”. They complained feverishly to the government, and to the American public to get restrictions on business from the government to make competition “fair”, essentially, impeding capitalism. What that really did
was handicap the successful people in our society in order to provide for the less capable. And “A government that can give you everything you want must first take everything you have.”(Newman) People got wind of the government taking action restricting free trade, they “broadened their horizons”, becoming Socialists who wanted to “steal from the rich to give to the poor”; and Socialism is the end product of jealousy.
The greatest attribute of the Captains of Industry was their generous philanthropy. They gave millions to good causes, created foundations, built libraries, hospitals, parks, and museums; all for the good of the people. Of all the industrialists of this period in history, Andrew Carnegie was the most generous of them all. “In fact, by the time he died in 1919, he had given away $350,695,653. At his death, the last 30,000,000 was likewise given away to foundations, charities and to pensioners.”(Andrew) Despite this he was still vilified by the Socialist faction of this country, because, even though he gave everything away, according