Guilede Age

4 Pages 1003 Words

Many people viewed businessmen of the nineteenth century as robber barons. They believed that these businessmen were so emerged into giant corporations and were so dedicated in striving for monopolistic power that their only pursuit was wealth and power in lieu of accomplishments. This entry counterbalances the idea of robber barons. John Chamberlain emphasizes the creative accomplishments of these business leaders. He explains the effects they had on the American public, while also realizing the “shameful aspects” of their actions. In the following essay, I will summarize Chamberlain’s views on Vanderbilt, Rockefeller and Carnegie, their achievements and their pursuit to deal with the American economy.

The period after the Civil War resulted in a significant growth in the industrialization of the American economy. Many new faces started to emerge out into industrial enterprises. One of these new faces was Cornelius Vanderbilt. People believed that he was a man that used trickery to control properties that he wanted. When involved with something, Vanderbilt was a man who was determined to have physical and economical improvements for the company. He began his career from his love of steamboats, but as the steamboats era came to an end Vanderbilt became involved with railroads. With his profit made from steamboats and oversea affairs, he purchased shares of the Harlem Railroad. This would later help him gain stock control of Canada Southern, Lake Shore and the Michigan Central. These first steps lead him to much fame in the economical world. He relayed the Central’s tracks from New York to Chicago with new steel rails and stronger steel bridges. He produced a more efficient type of locomotive and the traveling time was drastically shortened. Vanderbilt helped link the east and west worlds of America together. “Vanderbilt may have watered the Central’s stock. But as fast as he watered it he solidified it – and the worst ...