John D. Rockefeller: Captains Of Industry

Since the creation of the U.S. two hundred and forty one years ago, one of the founding ideals of the nation is that any citizen should have the right to pursue their own dreams. For some the “American Dream” can be defined as the opportunity to gain success and prosperity through hard work, determination, and initiative. John D. Rockefeller and Andrew Carnegie personify this concept completely, and although these men were hailed as “captains of industry,” they always hungered for more.

John D. Rockefeller is recognized as one of the most successful industrialists in U.S. history, he “was a disciplined, serious, and ambitious man” but he did not begin life as a wealthy philanthropist. Rockefeller was born July eighth, 1839 in Richford, New

Rockefeller’s career in business started at the very bottom of the ladder, clerking in a commission house. He worked in the commission house for three and a half years before quitting to start a business transporting various goods for companies. Rockefeller’s company had the good fortune of opening right before the start of the civil war and “due to his hard work and wise decision making,” he gained a decent fortune transporting agricultural goods. After the war he speculated that there was nothing more to be gained from the cargo transporting business, so he took a risk and invested in the first of his oil refineries in 1865. In the first year Rockefeller’s refinery was double the amount of any other refinery in Cleveland and in 1868 he was running the largest oil refining company in the world. Rockefeller was always looking for ways to expand his company while still maintaining a low expenses. Which led to him being one of the first businessmen to use a vertically integrated company, meaning he controlled every stage of production. Being one of the largest companies in the United States came with certain benefits other small companies could not afford, such as stability when oil prices crashed and cheaper rates with the

Andrew Carnegie was born November twenty-fifth, 1835 in Dunfermline, Scotland, to a linen weaver and the daughter of a cobbler. Living in a caste system of society gave his family little to no opportunity to prosper, which led to Carnegie “developing into a violent young republican” as well as causing his family to move to a town just across the river from Pittsburgh. Carnegie’s father died early on in his life causing him to become a provider for his family at a young age. Carnegie’s first real job was as a secretary to the superintendent of the Pittsburgh telegraph office. He went on to become a successful capitalist for many years before he recognized the opportunity to rule the steel industry in the U.S.. Carnegie used his own funds to build his first furnace to produce pig iron in 1870, by 1873 he had organized a steel producing company and continued to dominate the industry. Carnegie’s domination of the steel industry in the United States led to him gaining a vast fortune which he had unorthodox views on the way it should be