Brief biographies from American history, for the fifth and sixth grades : $b Required by the syllabus for elementary schools of New York State Education DepartmentTurpin, Edna Henry Lee
History
Brief biographies from American history, for the fifth and sixth grades : $b Required by the syllabus for elementary schools of New York State Education Department
Turpin, Edna Henry Lee
United States -- Biography
The United States has been called “the land of the poor man’s
opportunity.” More than one barefoot boy in it has passed from a
log cabin to the White House. In no other country have there been
such rises from poverty to wealth and position. There is often much
to condemn in the methods by which vast wealth is acquired, but the
task requires ability and talent of a kind, and the careers of these
“captains of industry,” as they are well termed, are regarded with
interest.
A typical man of this class is Andrew Carnegie, who has risen from
extreme poverty to vast wealth. He was born in 1837 in Scotland. His
father, a master weaver, lost work when machines took the place of
hand-looms; he emigrated to the United States when Andrew was a boy
of eleven. Andrew began work when he was twelve as a bobbin-boy in a
cotton factory in Pennsylvania, at weekly wages of a dollar and twenty
cents.
When he was fourteen, he became a telegraph messenger boy and earned
three dollars a week. In his spare time, he learned telegraphy and
became an expert operator.
He was shown a model of a sleeping car of which he was quick to see
the advantages; his first business investment was in a sleeping car
company, and the success of this laid the foundation of his fortune.
Later on, he became interested in iron works of various kinds. He
foresaw that iron bridges would largely take the place of wooden ones.
He formed a company to make the parts for iron bridges. Later, he saw
the superiority of steel over iron. In 1868 he introduced into America
the Bessemer process of making steel. He acquired one after another
seven great iron and steel works; moreover, he acquired coal and iron
fields and railways and steamboats to control transportation.
In 1889 his plant at Homestead was the scene of a strike, one of the
fiercest contests in America between capital and organized labor. A
number of workmen and detectives were killed, and the militia had to be
called out to put down the riot.
In 1899 Carnegie’s interest in different iron and steel plants were
consolidated; in 1902 there was formed the United States Steel
Corporation, a vast trust with a capital of over a billion dollars,
which employs forty thousand people. The year that this trust was
formed Carnegie retired from business: he received for his share in the
trust two hundred and fifty million dollars’ worth of bonds bearing
five per cent. interest, thus securing him an income of about fourteen
million dollars a year. The Steel King, his wife, and daughter, make
their home at Skibo Castle, a magnificent residence in Scotland.
Public-domain text, read in full here on John Shaqi.
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