Viviana Kucharski AMH 2020 Sep 20 2012 J. Pierpont Morgan & Andrew Carnegie It is difficult to image two men born in such a different social condition have so much in common. Two men that opened his way to the success based in hard work and somehow shared that success with others less fortunate. J P Morgan and Andrew Carnegie were two powerful men; disciplined, intelligent, and hard workers. President Roosevelt described J P Morgan as a sincere and trustful man. He developed a social and professional confidence, and his corpulent body and deep black eyes were intimidating.
He was born as a natural leader. In the other hand Andrew Carnegie was compassionate, ethic, humble, a truth optimistic. His mother taught him the value of hard work. “He was devoted to his mother and deeply lover her. ” (www. biography. com, minute10’55’). He believed in qualities of all men. Andrew Carnegie was born in Scotland in 1835 in the womb of a working class family. Since school wasn’t mandatory his formal education didn’t start until age of 8, however his father and uncles led his early education.
In the other side of the world, in Connecticut, America “J P Morgan was born into a prosperous mercantile-banking family in 1837”. (American Eras. Vol. 8. ) He was raised in Hartford, Boston, and London. His formal education began in New England schools and continued in Switzerland and Germany. After a year in University his father placed in one of his affiliate firms. Instead, once Andrew arrived to America at age of 13, his school’s days were over. Andrew’s first job was a bobbin boy and then in the O’Reilly Telegraph Company. “Andrew saw this job as a first step on his road toward success. ” (Machen Rau, pg 36. After years or learning and observing, Andrew invested in the Adams Express Company and in the Woodruff Sleeping Car Company and it turned out to be a successful investment that brought him lots of money. Unlike Carnegie, Morgan first job was on the board of a financial firm. Morgan possessed a unique skill at transforming struggling business and management to make them highly profitable, and this includes the remorganization of the railroad dramatically affected by the depression of 1893, and the Government of U. S. A. , which he saved twice, first in the Gold treasury Crisis and later in the depression of 1907.
Meanwhile, in 1863 Andrew realized that wood structures could be replaced by iron. He formed the Keystone Bridge Company and after years of doubts he finally invested in the Carnegie Steel Company, which Morgan would buy years after to form in 1901 the U. S. Steel Company. In two decades J P Morgan managed the formation of different companies including the well-known General Electric and Carnegie turned his life from being a bobbin boy to being the richest man in the world. Andrew Carnegie and J P Morgan left a tremendous legacy focused in education, scientific research, and foundations.
Carnegie’s legacy also includes the improvement in steel quality and its production to make it more affordable. J P Morgan also left a legacy consistent in financial corporations that still working these days touching the life of thousand of people. Andrew Carnegie and J P Morgan were two powerful men that made a fantastic input in the life of millions of people helping to transform America from an agrarian nation to an industrial and economic leader of the world. Sources: • “Andrew Carnegie: Prince of Steel” 2012. Biography. com Authors: Rick Davis, Jack Perkins, Jaffe Productions; Hearts Entertainment Publisher: New York, New York.
Bio. 2008, 1995 http://www. biography. com/people/andrew-carnegie-9238756 • “J. Pierpont Morgan: emperor of Wall Street” 2012 Biography. com Authors: Jack Perkins; Jaffe Productions; Actuality Productions; Hearts Entertainment Publisher: New York: A ; E Home Video: Distributed in the U. S. by New Video Group, 1996 http://www. biography. com/people/jhon-pierpont-morgan-9414735 • “John Pierpont Morgan. ” American Eras. Vol 8. Detroit: Gale, 1997. Gale Biography In Context. Gale Document Number: Gale|K2438000252 • Dana, Meachen. Captain of Industry. Minneapolis: Compass Point Books, 1971.