Expository - Robber Barons

The robber barons were a group of people who lived during the time of the American industrial revolution. They were also sometimes called captains of industry. The robber barons were business owners, and the businesses they ran ranged from oil companies to steel companies, and even banking. They often owned large businesses which were made up of many smaller businesses. These are called trusts, and many of these trusts had total control over their field of industry. These trusts are called monopolies. Robber barons often made large amounts of money because they are given part of the income of all of these companies in their monopoly.
Many of the people that worked for robber barons felt that they were being treated unfairly. They thought that money that should have been going towards their wages was ending up in the pockets of the robber barons. Many small companies that could not compete with the trusts were run into bankruptcy, and lost all their money. This eventually led to a government process called “trust busting”. Through this process the government was able to make sure that one business was not in control of a whole industry, and it limited the amount of companies that trusts could have. Today, trust busting laws are still in order, and they ensure that small companies are not taken advantage of or run out of business.
Henry Ford, John D. Rockefeller, J.P. Morgan, and Andrew Carnegie are all examples of robber barons from the industrial revolution. The robber barons certainly played a significant role in the American industrial revolution. Many of them even started their own businesses. While some may have hated them, they lead the industrial revolution with many great strategies.

News Story - Land Speed Record Shattered by Ford!

Henry Ford has broken the land speed record, and he has done it by driving a mile in an incredible 39 seconds! This newly invented machine that moves at speeds close to 100 miles per hour has been dubbed the Ford model “999”. The rocket of a car is presumed by many to be the next racing phenomenon. The demonstration of the 999 given by Ford took place yesterday, January 17, 1902, on the frozen surface of St. Clair Lake in Michigan. The small crowd watching the event seemed to forget about the extremely low temperatures for a moment as they watched the extraordinary feat in awe.
The mechanical wonder has sent shockwaves through the sport car world, and racing greats such as Barney Oldfield, who in fact gave the car its name, seems to be very convinced by its success. Oldfield has said that he plans to take the car on a tour of the USA to compete in competitions with it. Ford also wants him to test drive these cars prior to any races.
Many other drivers have begun bidding on the car, and many of them have announced plans to set many more records in the future using the 999. Some have criticized Ford as they claim he is jeopardizing the success of the machine, because inexperienced racers might ruin its reputation. Ford, however, has claimed that he is confident in his actions, and he is excited to put the finishing touches on the 999.
The 999 is expected to be mastered within the next year, and it remains to be seen how the vehicle will stand up against cars from companies such as Dodge and Benz. The 999 is expected to be sold to sport racers for a starting price of around $800.

Stock Market Game

Like a shrill horn, Mr. Coyle's voice announced the opening of the stock market. The 1870 stock market had begun. Everyone's eyes fell upon their information sheets. We quickly read the stock predictions for each company, and then rushed to the front of the room where our stockbrokers waited to give us shares. I gazed at the advice Mr. Coyle had written on the board. I took it all into consideration. Impatient and tired of waiting, the stock buyers in line grew restless. Shouts filled the air and conversations became hostile. At one point a vicious fist fight broke out between me and a lying stock broker named Avi Singh. We finally drew near to the end of our buying time, and as we finished, the stockbrokers took their time to buy. Cries of alleged cheating were thrown at the stockbrokers, and Avi withdrew to his seat in tears. Finally, it happened. Mr. Coyle had the results. He began to list companies along with their performance and share prices. I must say that in the end, the advice that helped me most was to buy low and sell high. I wish I would have used this method more often, because I was not very successful with this game. I even bought some companies at high prices when they just descended the next year. This made me very sad, and I think that if I ever want to become a millionaire I better get my act together.

Diary of a Ford Employee

Dear Diary,

He’s a saint! Am I dreaming? Today this heaven-sent manager announced his bold new idea. Most likely the best words I have ever heard from a man in all my life! Henry Ford announced today that he has increased our daily salary from the minimum wage of $2.39, to $5.00! I could not have asked for anything better. We barely had enough money to eat at night with the terribly low salary of $2.39. He even added that we will only be working 40 hours per week now! The thought of it makes even this cold January day seem warm as a summer afternoon. This kind of income is the kind that makes it possible for me to support my wife, my six kids, and myself, with enough money for comfort. Oh, I know, I shouldn’t be all that excited yet, but I just know this is the start of something great!
However, I guess I do deserve this at least somewhat. After all, Mr. Ford has strict rules for his employees, and he has used his security to crush a heck of a lot of union strikes. I mean, he’s even got a former Navy boxer working as his head of service! It’s like the US Marines down at the factory. I can not begin to tell you about the testing we had to pass to be working for Ford. I mean, it’s only men, you have to be over the age of 22, there’re psychologists, you can’t drink, you can’t gamble, and over a hundred inspectors are keeping you in line when you’re working! Everyone’s calling his labor tactics extreme, and Wall Street is already getting worked up about these new wages, but the word I’m thinking of is something along the lines of genius. After all, this man isn’t out to please us.
I’ve worked for Mr. Ford long enough to know his strategies. In fact, the only employees allowed at the factory are all of us who have been working there for at least six months. By increasing the salary he knows he’s getting a benefit. With this salary we’ll all be able to afford the cars that we ourselves make every day. He’s selling, and we’re buying. It’s all going the way he wants it to.
There are those who call Henry Ford a “robber baron”. Can you believe it? A robber baron!? How can they claim that he is stealing money from the poor when he is increasing our salaries? I for one will not remember him as a corrupt person. With the trust and the leadership that he shows towards us, there is an unspoken need for respect. I know that I won’t be doing anything to have this privilege taken away from me.


With Joy,
A Ford Employee

Goals Update

I really think that my goals have been met quite well throughout the year. I have worked hard to make sure that all my work is turned in on time, and I hope to improve even more so in the second half of the first quarter. Another goal was to improve in socratic seminars. I do think that I stepped up and began to add insight to the conversations, but once again I hope to improve even more on this when we begin our next novel.

An Interview with John D. Rockefeller

Simply from the grip he possessed as this man shook my hand, I knew he meant business. In many ways he is the definition of business. His name is John D. Rockefeller, and he is the richest man on earth.

Rockefeller informs me early on that much of his career was built on the values of his childhood. “Growing up as a small boy in New York, I always believed my purpose in life was to make as much money as I could, and then use it for the good of mankind”, recalls Rockefeller. This theory seems to have been adopted for use by many people following Rockefeller.

It is noticeable that everything about this man reflects his personality. “You will never catch me in the middle of a publicity stunt. I have avoided the spotlight all my life,” claims the millionaire, “It seems pointless to be caught up in time wasting affairs when I could be running a business to make money.”

As the facts arose that he was the first millionaire in America, and that his company, Standard Oil, had control of almost all of the oil in America, his modest words punched it all right back at me. He simply shrugged at the idea as though he had just been told the time on the clock. “My company, Standard Oil, is based out of Cleveland, Ohio. Using trains we are able to transport our oil and other products from Cleveland to cities on the east coast.” Once again, as if it didn’t matter, Rockefeller failed to mention that his company was leading the oil industry by far as the largest shippers of oil and kerosene in the country. We have worked hard to gain dominance of the railroads, and they are a large part of my success.”

The topic of Standard Oil soon brought our conversation to focus on the rest of the oil industry, basically, all of Standard Oils competitors. The fact of the matter is, however, that Standard Oil now has virtually no other companies to compete with, a seemingly impossible monopoly of the oil business in this resource-rich land. As he explained his business methods I came to understand this man more. “For many of the competing oil companies I simply showed them my financial records so they could see what they were up against. I then offered to make a fair deal of partnership, or I would run them into bankruptcy.” Indeed, most of these oil companies agreed to his deals.

Knowing about his business life seemed to lessen the seriousness of the interview somewhat, “Ever since I was young, my two greatest ambitions have been to make $100,000, and to live to be one hundred years old. For the first time during our interview, a soft smile dawned on his face. “One ambition down,” said Rockefeller of far exceeding his goal of $100,000, and as to living to see the ripe old age of one hundred, “one ambition to go.”

It seems that after all of the “impossible” that this man has accomplished, living to be one hundred should be an easy task.

The Good, the Bad, and the Ugly of the IR (without the ugly)

The Good

• Products were produced very quickly and efficiently.


• Many people were given jobs at factories.


• Many new items were invented.


• Items were less limited, as they were mass produced.

• Many business owners made a lot of money.

• Many inventions occurred during the IR and they made work easier for many people.

• Gave people opportunities to support families.
  

The Bad

• Many people lost their homes and farms.


• At factories, life was extremely harsh.


• Children as young as four were forced to do dangerous jobs in factories.


• Families made very little money from factory work.

• Many accidents took place at factories and mills.

• Due to the rise of cities and a tremendous overcrowding issue, there was a rise in disease.

• The rise of cities also resulted in poverty among the poor people.
  

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