The Progressive Er An Age Of Ambition And Brutal Competition
1007 Words5 Pages
Name: Danielle Benjamin
English 8-, Mr. Del Ferraro
Social Studies 8-, Mrs. Crisafulli
Date 12/18/14 The Progressive Era was an age of ambition and brutal competition between the people who are to this day credited with building the backbone of the American economic society. Although, even in the early years of industry, getting to the top comes with manipulation especially for the business titans of the time, Andrew Carnegie and John D. Rockefeller. Contrary to popular belief in those days, these men were not honourable business men. Yet, this wasn’t uncovered until reformers finally started exposing the lies buried behind the corporations in 1890 through 1920. The reason most people in Manhattan (the most common place…show more content… The monopolizing system ran almost every single oil company out of business putting more and more people and their families through poverty. Finally, in 1904 Ida M. Tarbell daughter of Franklin Tarbell (owner of a targeted oil company that Rockefeller eventually ran out of business) wrote “The History of Standard Oil”, this book exploited all of Standard Oil 's ruthless business practices. In 1911, the corporation was found to be in violation of the Sherman Act and ordered out of business. Yet this wasn’t the only company in violation of the Anti-Trust Act.
Another incredibly powerful monopoly was founded by Carnegie Steel. Originally Carnegie made his way to the top in the Pennsylvania railroad business using keynote iron to make the rails, but then when steel was discovered he immediately invested. In the beginning he invested 11% and within a year owned 50% of the company. What was astonishing about Carnegie was that he grew up with an extremely poor family. In his later years Carnegie says,"In my childhood I finally began to learn what poverty meant, it was burnt into my heart then that my father had to beg for work. And then and there came the resolve that I would cure that when I got to be a man." These are touching words coming from a man who without hesitation lowered each salary of hardworking employees, men and children who already had low income as it was. In 1900 Carnegie started buying cheaper steel to be an added competitor