The Rise of the Robber Barons for kids: The Great American Capitalists
The Robber Barons amassed wealth and power during the period of
intense economic and industrial growth following the American Civil
War. The Robber Barons were businessmen, the great American
Capitalists, who created massive business organizations, known as
trusts, that enabled them to
monopolize major industries which
gave them the power to regulate the supply and price of products and
commodities - refer to
Rise of Big Business and Corporations.
It was a turbulent time in American history when the super-rich
'Robber Barons' took their ruthless control over major industries
that sparked demonstrations protests from workers that resulted in
riots and strikes in the towns and cities of the United States
during the
US
Industrial Revolution.
Robber Barons
Definition
Robber Barons Definition: These men earned the title of 'Robber
Barons' due to their greed and ruthlessness, their unethical
business practices, unscrupulous tactics and their total lack of
concern for their workers, their customers or their competitors.
Robber Barons or Captains of Industry?
Were these powerful men
Robber Barons or did they deserve respect for being 'Captains
of Industry'.
The Captains of Industry were also entrepreneurs. But the Captains
of Industry were not just motivated by money, they were also
philanthropists who not only made a significant contribution to the
nation but also to the welfare of American citizens.
The Power of the Robber Barons
The power of the Robber Barons grew. They could not, or would not,
be controlled by the federal government during their heyday. The
lack
of government regulation resulted in
new forms of ruthless corporations and companies headed by the 'Robber Barons'. Their goal was to increase their profits and
they resorted to any methods to achieve their objectives.
● The Robber Barons cared little
for the working conditions and safety of their employees.
● The Robber Barons kept wages at a minimum, and
reduced wages as they felt fit.
● Many families were on the
breadline and their children were also forced to work to enable
them to survive.
● Workers were forced to work long
hours
● Workers were banned from
joining unions or labor movements by the Robber Barons
●
Robber Barons used bribery
and corruption to gain support from politicians and government
officials
●
Some Robber Barons
manipulated the stock market
●
The Robber Barons made it impossible
for competitors to survive as they monopolized the major
industries
Effect and Impact of Robber Barons on the Workers
Whilst the Robber Barons enjoyed opulent and luxurious
lifestyles, many of their workers survived in appalling housing and
suffered a poor standard of living - refer to the article on the
Industrialization in
America. Workers demonstrated and mounted
protests. Some formed workers organizations and unions. The Robber
Barons were unsympathetic and ignored the demands of the workers
which led to civil unrest involving riots, strikes and bombings. The
federal government supported the Robber Barons sent out US troops to quell the uprisings.
For additional facts refer to the
History of Urbanization in America
Who were
the
Robber Barons?:
List of Robber Barons and Captains of
Industry
for kids
A list of the Robber Barons and Captains of Industry are detailed
below. The facts and information
will allow you to decide which of these men were Robber Barons or
one of the Captains of Industry and whether they were supporters or
against the
Theory of
Social Darwinism.
Robber Barons:
Andrew Carnegie - Steel:
Andrew Carnegie (1835–1919), was a steel
magnate, self-made businessman and millionaire. In 1892
the workers called a strike at his steel plant in
Homestead, Pennsylvania. Carnegie and Henry Frick hired
Pinkerton men to
break up the strike leading to
violent confrontations.
Andrew Carnegie was also a Philanthropist and donated
towards the expansion of the New York Public Library and
wrote and article called the 'Gospel of Wealth'
describing the responsibility of philanthropy by the
wealthy to further social progress.
Robber Barons:
Henry Clay Frick - Steel:
Henry Clay Frick (1849 – 1919) was chairman of the
Carnegie Steel Company who also financed the
construction of the Pennsylvania Railroad. He donated
his collection of old master paintings to create the
Frick Collection and art museum
Robber Barons:
Charles M. Schwab - Steel:
Charles Schwab (1862 – 1939) was an American steel
magnate who built Bethlehem Steel. He led the typical
luxurious, opulent lifestyle of a Robber Baron. Schwab
Schwab was an inveterate gambler and gained fame as the
man who broke the bank at Monte Carlo. He lost his money
in the stock market crash of 1929.
Robber Barons:
James Fisk -
Stockbroker: James Fisk (1834–1872) was a stockbroker
who, with his partner Jay Gould, attempted to corner the
gold market on the New York Gold Exchange which led to
the Black Friday
Scandal. James Fisk was vilified for his unethical
business dealings and was murdered on January 6, 1872 in
New York City.
Robber Barons:
Jay Gould - Jay
Gould (1836 – 1892) was an unscrupulous railroad
developer stockbroker and speculator who also obtained a
controlling interest in the Western Union telegraph
company.
Robber Barons:
Charles Crocker - Railroad:
Charles Crocker (1822 – 1888) was a railroad
industrialist who founded the Central Pacific Railroad
and a one time president of Wells Fargo.
Robber Barons:
Franklin B. Gowen - Railroad:
Franklin Gowen (1836 - 1889) was the president of the
Philadelphia & Reading Railroad and the Philadelphia and
Reading Coal and Iron Company. Gowen was infamous for
his involvement in labor disputes during the
Great Railroad Strike of 1877
and played a major role in the downfall of the
Molly Maguires.
Robber Barons:
George Pullman - Railroad:
George Pullman (1831 – 1897) designed the Pullman
sleeping car. He founded a company town for his workers,
Pullman City which gave him the reputation of one of the
compassionate Captains of Industry. Following the Panic
of 1893 George Pullman cut wages and jobs and increased
working hours which led to the violent dispute known as
the
Pullman Strike.
Robber Barons:
Cornelius Vanderbilt - Railroad
and Steamboats:
Cornelius Vanderbilt (1794–1877) was one of the richest
men in America and a famous Philanthropist. Although
recognized as one of the Captains of Industry he was a
ruthless capitalist who cut shipping rates forcing his
competitors out of business
Robber Barons:
Leland Stanford - Railroad:
Leland Stanford (1824 – 1893) was a ruthless
industrialist but was also the founder of Stanford
University. He was famous as one of "Big Four" of the
Transcontinental Railroad along with
Collis P. Huntington, Charles Crocker and Mark Hopkins.
Robber Barons:
Mark Hopkins - Railroad:
Mark Hopkins, Jr. (1813–1878) created the "New England
Mining and Trading Company" during the California Gold
Rush and became one of the " Big Four"
Robber Barons:
Henry Bradley Plant - Railroad
and Steamboats: Henry Plant (1819 - 1899) was a tycoon
who made his money in transportation via steamboats and
railroads. He also invested in hotels
Robber Barons:
J.P. Morgan - Finance
and Banking:
J.P. Morgan (1837–1913) was a leading financier and
banker. During the
Panic of 1873 he bailed
out the federal government by loaning the Treasury $65
million dollars in gold.
Robber Barons:
Daniel Drew -
Railroads, Steamships and banker: The reputation of
Daniel Drew (1797 – 1879) was ruined when he introduced
"watered stock" to Wall Street consisting of company
shares that were issued by false means including
counterfeit stock certificates
Robber Barons:
John D. Rockefeller - Petrol
and Oil:
John D. Rockefeller (1839–1937) was the head of the
Standard Oil Company and used much of his fortune to
fund many philanthropic causes. However
Rockefeller was ruthless and used questionable tactics
which gained him enemies.
Robber Barons for kids:
President Rutherford Hayes Video
The article on
Robber Barons provides detailed facts and a summary of the important
people who featured during his presidential term in office. The following
Rutherford Hayes video will
give you additional important facts and dates about the political events experienced by the 19th American President whose presidency spanned from March 4, 1877 to March 4, 1881.
Robber Barons:
Riots, Strikes and Unions
●
Interesting Facts about Robber Barons for kids and schools
●
Summary of Robber Barons in US history
●
List of
Robber Barons - names and industries
● List of the
Robber Barons
●
Fast, fun facts about Robber Barons
●
Robber Barons and Captains of Industry
● Rutherford Hayes
Presidency and the Robber Barons for schools,
homework, kids and children |