Andrew Carnegie
By Rebecca Good
Early Life
• Carnegie was from Dunfermline, Scotland
(a center of the growing linen industry)
• Born to William and Margaret on November 25, 1835
• The Carnegie family grew up in poverty because with the
opening of factories in their region of Scotland, his father’s
work as a linen weaver was no longer necessary
• He experienced first hand the life of the lower class when
he realized his father was unable to find work and he saw
his family struggling financially
Early Business
• Andrew moved to America into Allegheny, Pennsylvania in
1848, working for $1.20/hour as a bobbin boy and taking a
job as a messenger
• Andrew was eventually introduced to the Railroad business
and investment opportunities when he was hired as a
personal secretary to Thomas A. Scott
• This brought him close to industrial advancements, giving
him the chance to become the superintendent of the
railroad company
• He then devoted himself to the Keystone Bridge Company,
relying on his persistence and willingness to learn to push
him ahead in business
Big Business
• His main success was in the steel business
*making use of the Bessemer process
*providing steel for building railroads
• Carnegie’s steel business prospered in the Pittsburgh area
• He helped make the U.S the world’s greatest steel exporter
• Main strategies for successful business:
*overall fair treatment of workers to prevent strikes
*uncorrupt deals
*vertical integration- controlling all parts of the process
from beginning to end to eliminate the middle man
• By 1900 the Carnegie Company was valued at about $400
million dollars, an enormous sum of money for this rags to
riches man
His Philanthropy
• In 1901 Carnegie sold the company to J.P Morgan for $480
million dollars
• He had wanted to become a philanthropist even before he
was a millionaire, so this gave him the chance
• Carnegie believed in the Gospel of Wealth, so he wanted to
give as much of his money away to better the community
• His fortune helped establish more than 2,000 public
libraries
• He funded many universities and programs to teach those
who otherwise would not have been given this opportunity
• At the end of his life he had given away over $350 million
dollars, leaving an impression on the poor and setting an
example for the wealthy
His Wishes Fulfilled
“I 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.”
“I shall argue that strong men, conversely, know when to
compromise and that all principles can be compromised to
serve a greater principle.”
“Surplus wealth is a sacred trust which its possessor is bound
to administer in his lifetime for the good of the community.”
-Andrew Carnegie
Cartoon Analysis
• His distinctive hat, socks, and kilt
represent Carnegie’s origins in
Scotland.
• The American flag print represents
his move to America and the
“American Dream” he was able to
experience
• It mentions free education in
Scotland on the document,
showing his wishes for education
opportunities in Scotland (like his
wish for education in the U.S)
• He is pouring money into
graduation caps, showing
Andrew’s funding of libraries and
colleges
• The vertical falling of the
donations can be representative of
his use of vertical integration
Works Cited
• “Andrew Carnegie.” American Experience. Web. 3 February
2012. <http://www.pbs.org/wgbh/amex/carnegie/people
events/pande01.html>
• Hall, Jan. “Andrew Carnegie.” American Business. Web. 3
February 2012. <http://american-business.org/2373andrew-carnegie.html>
• “Our Founder.” Carnegie Corporation of New York. Web. 3
February 2012. <http://carnegie.org/aboutus/foundation-history/about-andrew-carnegie>
• “’The MacMillion.’” Explore PA History. Web. 3 February
2012. <http://explorepahistory.com/displayimage.php?i
mgId=1-2-CFF>