Robber Barons And Rebels Essay
Robber Barons and Rebels
Assignment: In a well developed essay of 3-5 typed pages (Times New Roman 12 font, double-spaced), answer the following questions -- doing well to make smooth transitions from one idea to the next (the key is to see how they are linked and then tap into those commonalities in your transition):
• What was the technology that transformed the workplace from 1865-1900?
What economic and social effects did the new technology have on American society?
• During this time, it is said that it took money to make money . . . what are the implications of this for the potential for social mobility?
• How did the educational system function as a tool to reproduce the system? In your experience are todayʼs educational …show more content…
P. Morgan had started before the war, as the son of a banker who began selling stocks for the railroads for good commissions. During the Civil War he bought five thousand rifles for $3.50 each from an army arsenal, and sold them to a general in the field for $22 each. The rifles were defective and would shoot off the thumbs of the soldiers using them. A congressional committee noted this in the small print of an obscure report, but a federal judge upheld the deal as the fulfillment of a valid legal contract.
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Morgan had escaped military service in the Civil War by paying $300 to a substitute. So did John
D. Rockefeller, Andrew Carnegie, Philip Armour, Jay Gould, and James Mellon. Mellon's father had written to him that "a man may be a patriot without risking his own life or sacrificing his health. There are plenty of lives less valuable."
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It was the firm of Drexel, Morgan and Company that was given a U.S. government contract to float a bond issue of $260 million. The government could have sold the bonds directly; it chose to pay the bankers $5 million in commission. On January 2, 1889, as Gustavus Myers reports:
... a circular marked "Private and Confidential" was issued by the three banking houses of Drexel,
Assignment: In a well developed essay of 3-5 typed pages (Times New Roman 12 font, double-spaced), answer the following questions -- doing well to make smooth transitions from one idea to the next (the key is to see how they are linked and then tap into those commonalities in your transition):
• What was the technology that transformed the workplace from 1865-1900?
What economic and social effects did the new technology have on American society?
• During this time, it is said that it took money to make money . . . what are the implications of this for the potential for social mobility?
• How did the educational system function as a tool to reproduce the system? In your experience are todayʼs educational …show more content…
P. Morgan had started before the war, as the son of a banker who began selling stocks for the railroads for good commissions. During the Civil War he bought five thousand rifles for $3.50 each from an army arsenal, and sold them to a general in the field for $22 each. The rifles were defective and would shoot off the thumbs of the soldiers using them. A congressional committee noted this in the small print of an obscure report, but a federal judge upheld the deal as the fulfillment of a valid legal contract.
#
Morgan had escaped military service in the Civil War by paying $300 to a substitute. So did John
D. Rockefeller, Andrew Carnegie, Philip Armour, Jay Gould, and James Mellon. Mellon's father had written to him that "a man may be a patriot without risking his own life or sacrificing his health. There are plenty of lives less valuable."
#
It was the firm of Drexel, Morgan and Company that was given a U.S. government contract to float a bond issue of $260 million. The government could have sold the bonds directly; it chose to pay the bankers $5 million in commission. On January 2, 1889, as Gustavus Myers reports:
... a circular marked "Private and Confidential" was issued by the three banking houses of Drexel,