Rockefeller and Carnegie Vertical vs. Horizontal Integration Document A Document B Document C Source: Andrew Carnegie, “Wealth,” North American Review, June 1889.
This, then, is held to be the duty of the man of Wealth: First, to set an example of modest, unostentatious living,
shunning display or extravagance; to provide moderately for the legitimate wants of those dependent upon him;
and after doing so 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, bringing to their service his superior wisdom, experience, and
ability to administer, doing for them better than they would or could do for themselves.
Document D Source: George Rice, “How I Was Ruined by Rockefeller,” New York World, October 16, 1898. “I am but one of many victims of Rockefeller’s colossal combination,” said Mr. [George] Rice, “and my story is not essentially different from the rest. ... I established what was known as the Ohio Oil Works. ... I found to my surprise at first, though I afterward understood it perfectly, that the Standard Oil Company was offering the same quality of oil at much lower prices than I could do — from one to three cents a gallon less than I could possibly sell it for.” “I sought for the reason and found that the railroads were in league with the Standard Oil concern at every point, giving it discriminating rates and privileges of all kinds as against myself and all outside competitors.” Document E Source: Henry George, Progress and Poverty, 1879 It is true that wealth has been greatly increased, and that the average of comfort, leisure and refinement has been raised; but these gains are not general. In them the lowest class do not share... This association of poverty with progress is the great enigma of our times. ... There is a vague but general feeling of disappointment; an increased bitterness among the working classes; a widespread feeling of unrest and brooding revolution.. . . The civilized world is trembling on the verge of a great movement. Either it must be a leap upward, which will open the way to advances yet undreamed of, or it must be a plunge downward which will carry us back toward barbarism. ... Document F Historian A Interpretation, 1927 Historian B Interpretation, 1953 th
The industrialist robber barons of the late 19 Much of the blame heaped on the captains of century were predatory and materialistic; their industry in the late 19th century is bloated corporations were threats to the unwarranted. Although people like Rockefeller humane and democratic values that made used methods that were ethically questionable, America great. Business tycoons turned the kind of monopolistic control that they modern America, with its standardized life and exercised was a natural response to the material culture, into a place in which Jefferson cutthroat competition of the period. The and Lincoln would be strangers. The giants of captains of industry like Rockefeller were industry were primitive souls, ruthless, innovators, thinkers, planners, and bold predatory, capable; single-­‐minded men, rogues, entrepreneurs who imposed upon American and rascals often, but never feeble. industry a more rational and efficient patterns. They also created a model of philanthropy for all to follow. 1. For all documents, What is the source? Where does it come from? Doc. A: TB-­‐242 Doc. B: Horrace Taylor, the Verdict, Sept. 25, 1899 2. What s the main idea? Give two pieces of evidence to support your statement. 3. Summarize in 1 paragraph: What is the context of all these docucments? What was going n in the country during the time they were written? Were any documents written after the period in time? 4. Corroborate: Do they all agree on the same thing? Which ones disagree and how do you know?