Americans by adoption : $b Brief biographies of great citizens born in foreign landsHusband, Joseph
History
Americans by adoption : $b Brief biographies of great citizens born in foreign lands
Husband, Joseph
United States -- Biography
During the great Civil War Carnegie had been put in charge of the
government telegraph and had done well the important work which
fell to him. But with the close of the war and the beginning of the
period of reconstruction, he saw a greater field for the exercise
of his business abilities. Iron was in great demand. Carnegie had
already been active in the foundation of a mill for the production
of structural iron; for three years the company had stood on the
brink of failure; but Carnegie was not a “quitter,” and he hung on
to his faith. Now, with his brother and several other partners, he
formed the Union Iron Mills. The profits were enormous. Vast railroad
development throughout the country required rails and structural
iron. Steel rails were worth from $90 to $100 a ton. The manufacture
of steel seemed to offer even greater prospects than iron.
In 1868 Carnegie visited England. In the early days of the nineteenth
century England controlled the iron business of the world; and when
Carnegie made his first trip abroad, there were fifty-nine Bessemer
Steel plants in Europe and only three in the United States. To-day,
the United States produces over two fifths of all the steel and iron
in the world, and the beginning of this great American industry can
be found in the enterprise of the son of the poor Scotch weaver.
Carnegie had faith in steel. By the Bessemer process steel of high
quality was economically produced by decarbonizing cast iron by
forcing a blast of air through the mass of metal when it is in a
molten condition. Carnegie saw the merits of this process, brought
the idea home with him, and adopted it in his mills. The vindication
of his faith was immediate. In an incredibly short time he had
obtained control of seven great plants in the vicinity of Pittsburgh:
the Homestead, the Edgar Thomson, the Duquesne Steel Works and
Furnaces, the Lucy Furnaces, the Keystone Bridge Works, the Upper and
Lower Union Rolling Mills. In the town to which he had come a poor
lad from a foreign land, Carnegie was now assuming the proportions of
a giant of industry.
Nothing was too good or too costly for the perfecting of the
industry. “Carnegie was the first steelmaker in any country who
flung good machinery on the scrap heap because something better
had been invented. He was the first to employ a salaried chemist,
and to appreciate science in its relation to manufacturing. In his
early days he was the biggest borrower in Pennsylvania; and when
the profits grew large they were poured back, to fertilize the soil
from whence they grew.... So it is clear that, primarily, the aim of
Andrew Carnegie was not to make large dividends or to sell stock,
but to establish a solid and enduring industrial structure. First of
all, he was a business builder; and the present unequaled prosperity
in our iron and steel trade is largely due to the fact that American
steel-makers have adopted the Carnegie policy of ranking improvements
above dividends.”
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account