Name:
Andrew Carnegie came to America from Scotland at the age of 12 with his family. The
family actually family had to borrow money in order to migrate. His first job came the
next year at a cotton mill in Pittsburgh. He worked 12 hours a day, 6 days a week for
$1.20 per week. Carnegie eventually began to work as an assistant to a railroad
superintendent where he learned how to run a big business and invest money.
Eventually, he quit his job to start his own business.
Carnegie organized the Keystone Bridge Company to build iron bridges for railroad
companies. Soon, Carnegie realized that iron was not the best product with which to
build bridges. Iron would rust and it was not very strong. It cracked and broke
when bent. He needed to find another material to build bridges. He knew that
steel, which is purified iron, was extremely strong and flexible. However,
steel was expensive to produce in large amounts.
While visiting England, Carnegie learned of the Bessemer Process for
producing steel. He returned to America and entered into the steel
industry in 1873. He built the first steel plant in the country close to
Pittsburg, Pennsylvania. Carnegie’s steel company went on to be
called U.S. Steel. Carnegie made steel for railroad tracks that cost
half as much as iron tracks and were much stronger.
Andrew Carnegie relied on mining and railroad companies to make
his business work; however, he did not want to depend on other
companies to produce his product. He found a new, simple solution
– he began mining and transportation companies and combined them
into one large company. This allowed Carnegie to control each step in the process of making steel. These moves also
allowed Carnegie to reduce his costs and keep lowering the price of steel. Unable to meet Carnegie’s low prices, most
competitors went out of business. By 1900, Carnegie controlled the American steel business.
Carnegie did not believe in leaving his wealth to his family. “I started my life a poor man, and I wish to end it that way.”
He did not die poor, but he did give away $350 million for the “improvement of mankind.”
1. How does Carnegie’s youth compare to yours? Explain.
3. What industry did Carnegie control?
4. What was the name of his steel Company?
5. How did Carnegie try to do good for others?
6. Do you think Carnegie was an entrepreneur? Explain.
7. Was Carnegie a philanthropist? Explain.
8. Was Carnegie a robber baron? Explain.
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Name:
Answer Key
Andrew Carnegie came to America from Scotland at the age of 12 with his family. The
family actually family had to borrow money in order to migrate. His first job came the
next year at a cotton mill in Pittsburgh. He worked 12 hours a day, 6 days a week for
$1.20 per week. Carnegie eventually began to work as an assistant to a railroad
superintendent where he learned how to run a big business and invest money.
Eventually, he quit his job to start his own business.
Carnegie organized the Keystone Bridge Company to build iron bridges for railroad
companies. Soon, Carnegie realized that iron was not the best product with which to
build bridges. Iron would rust and it was not very strong. It cracked and broke
when bent. He needed to find another material to build bridges. He knew that
steel, which is purified iron, was extremely strong and flexible. However,
steel was expensive to produce in large amounts.
While visiting England, Carnegie learned of the Bessemer Process for
producing steel. He returned to America and entered into the steel
industry in 1873. He built the first steel plant in the country close to
Pittsburg, Pennsylvania. Carnegie’s steel company went on to be
called U.S. Steel. Carnegie made steel for railroad tracks that cost
half as much as iron tracks and were much stronger.
Andrew Carnegie relied on mining and railroad companies to make
his business work; however, he did not want to depend on other
companies to produce his product. He found a new, simple solution
– he began mining and transportation companies and combined them
into one large company. This allowed Carnegie to control each step in the process of making steel. These moves also
allowed Carnegie to reduce his costs and keep lowering the price of steel. Unable to meet Carnegie’s low prices, most
competitors went out of business. By 1900, Carnegie controlled the American steel business.
Carnegie did not believe in leaving his wealth to his family. “I started my life a poor man, and I wish to end it that way.”
He did not die poor, but he did give away $350 million for the “improvement of mankind.”
1. How does Carnegie’s youth compare to yours? Explain.
Answer varies by student.
3. What industry did Carnegie control?
Carnegie controlled the steel industry.
4. What was the name of his steel Company?
His company became known as US Steel.
5. How did Carnegie try to do good for others?
Carnegie gave away more than $350 million to help others.
6. Do you think Carnegie was an entrepreneur? Explain.
Open to student opinion but they should understand
that an entrepreneur starts his own business so most should agree that he is an entrepreneur.
7. Was Carnegie a philanthropist? Explain.
Open to student opinion but they should understand that a
philanthropist gives money to help worthy causes and he did indeed do this.
8. Was Carnegie a robber baron? Explain.
Open to student opinion but they should reference that a
robber baron is a negative term for the very wealthy businessmen that drove competitiors out of business through
ruthless tactics like Carnegie did.
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