Write a 7-9 sentence paragraph explaining if the industrial capitalists would be considered Captains of Industry or Robber Barons. Use evidence from the documents to support your answer. Captains of Industry or Robber Barons? Directions: Examine the two definitions below - Captain of Industry and Robber Baron. Then read the list of business activities practiced by businessmen of the Gilded Age. In the blank space, write a C if the activity describes an activity practiced by someone who fits the definition of Captain of Industry or a R if the activity describes an activity practiced by someone who fits the definition of Robber Baron. Captain of Industry - a term originally used to describe a business leader whose means of amassing a personal fortune contributes positively to the country in some way. This may have been through increased productivity, expansion of markets, providing more jobs, or acts of philanthropy. Robber Baron - a disparaging term used to describe a powerful 19th century businessman or banker who used questionable or unethical business practices to become powerful or wealthy. 1. C After his retirement, Andrew Carnegie donated most of his money (over $350 million) to establish libraries, schools and universities as well as a pension fund for former employees. 2. _C In 1901 J.P. Morgan's U.S. Steel was the first billion-dollar company in the world with an authorized capitalization of $1.2 billion. The size and productivity of U.S. Steel allowed the U.S. to compete globally against countries such as Britain and Germany. 3. _1 In response to a strike at Andrew Carnegie's Homestead, Pennsylvania steel plant in 1892, Carnegie and Henry Clay Frick hired Pinkerton detectives to protect strikebreakers brought in to work in place of the striking workers. Ten men were killed and hundreds injured in an attempt to break the strike. 4. _ In 1895, at the depths of the Panic of 1893, J.P. Morgan loaned the U.S. Treasury $65 million in gold to safeguard the collapse of the U.S. government. 5. K The steamboat and railroad tycoon, Cornelius Vanderbilt continuously cut shipping rates to the point that other steamboat and railroad companies could not compete and were forced out of business. 6. _ The entrepreneur James J. Hill often donated seed, grain, and cattle to farmers who had been affected by drought and depression. 7. K_ John D. Rockefeller often resorted to using spies and extortion to influence railroads to work in his favor by offering him kickbacks and rebates that were denied to his competitors. 8 . _ In 1869, Jay Gould and Jim Fisk cornered the gold market by bribing the U.S. Treasury Secretary into not releasing gold into circulation, which drove up the price of gold which Gould and Fisk were hoarding. 9. K By 1890, the richest 9 percent of Americans held 75 percent of the nation's wealth. The average yearly income for workers was $380. Andrew Carnegie had a yearly income of $25 million in 1900. 10 . Between 1860 and 1890, the U.S. Patent Office issued over 400,000 patents. The technological innovation and applied science promoted by entrepreneurs brought about many inventions still in use today.mmon Captains of Industry or Robber Barons? Directions: Examine the two definitions below - Captain of Industry and Robber Baron. Then read the list of business activities practiced by businessmen of the Gilded Age. In the blank space, write a C if the activity describes an activity practiced by someone who fits the definition of Captain of Industry or a R if the activity describes an activity practiced by someone who fits the definition of Robber Baron. Captain of Industry - a term originally used to describe a business leader whose means of amassing a personal fortune contributes positively to the country in some way. This may have been through increased productivity, expansion of markets, providing more jobs, or acts of philanthropy. Robber Baron - a disparaging term used to describe a powerful 19th century businessman or banker who used questionable or unethical business practices to become powerful or wealthy. 1. C After his retirement, Andrew Carnegie donated most of his money (over $350 million) to establish libraries, schools and universities as well as a pension fund for former employees. 2. C In 1901 J.P. Morgan's U.S. Steel was the first billion-dollar company in the world with an authorized capitalization of $1.2 billion. The size and productivity of U.S. Steel allowed the U.S. to compete globally against countries such as Britain and Germany. 3. _ In response to a strike at Andrew Carnegie's Homestead, Pennsylvania steel plant in 1892, Carnegie and Henry Clay Frick hired Pinkerton detectives to protect strikebreakers brought in to work in place of the striking workers. Ten men were killed and hundreds injured in an attempt to break the strike. 4. _C In 1895, at the depths of the Panic of 1893, J.P. Morgan loaned the U.S. Treasury $65 million in gold to safeguard the collapse of the U.S. government. 5. K The steamboat and railroad tycoon, Cornelius Vanderbilt continuously cut shipping rates to the point that other steamboat and railroad companies could not compete and were forced out of business. 6. _ The entrepreneur James J. Hill often donated seed, grain, and cattle to farmers who had been affected by drought and depression. 7. _ John D. Rockefeller often resorted to using spies and extortion to influence railroads to work in his favor by offering him kickbacks and rebates that were denied to his competitors. 8. _ In 1869, Jay Gould and Jim Fisk cornered the gold market by bribing the U.S. Treasury Secretary into not releasing gold into circulation, which drove up the price of gold which Gould and Fisk were hoarding. 9. _ By 1890, the richest 9 percent of Americans held 75 percent of the nation's wealth. The average yearly income for workers was $380. Andrew Carnegie had a yearly income of $25 million in 1900 10 . Between 1860 and 1890, the U.S. Patent Office issued over 400,000 patents. The technological innovation and applied science promoted by entrepreneurs brought about many inventions still in use today.Captain of Industry or Robber Baron BCR Name : Jatiand Simmons 31 10/2 Captains of Industry vs. Robber Barons Topic Sentence: Industrialists like Cornelius Vanderbilt, John D. Rockefeller, and Andrew Carnegie are examples of ROBBER BARONS or CAPTAINS OF INDUSTRY. Characteristics of Captains of Industry Characteristics of Robber Barons (circle one) 1. Increases availability of goods by 1. Drains the country of its natural building factories, lowering prices, and resources and ruins its beauty with providing useful services to the public pollution and factories Claim: These industrialists were because they'.. 2. Raises productivity of workers through 2. Openly corrupt, breaks the law and efficiency and innovation (new ideas or bribes officials to bend the law for them inventions Support: 3, Creates more jobs and treats workers 3. Drives competitors to ruin, eliminates fairly by providing a safe working jobs, and keeps prices high for consumers Evidence #1: environment and fair pay 4. Donates wealth to America's public 4. Forces workers to work in dangerous/ Evidence #2: institutions (libraries, schools, charities) unhealthy conditions for low pay Evidence #3: Claim: These industrialists were because they'. Support: Evidence #1: Evidence #2: Evidence #3: Claim: These industrialists were because they'.. Tony Stark (Ironman] Mr. Burns (The Simpsons) Philanthropist (donates personal wealth Pollutes the environment with his to various charities) power plant Support: Funds research and development for Tries to block out the sun to raise clean, renewable energies energy prices Steals candy from babies Evidence #1: Defends Americans from villains Evidence #2: Evidence #3