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
following each activity 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.
1. 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. in 1901 jp morgan's u. s. steel was as the first billion-dollar company in the world with an
anthorized 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 the place of 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. 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.