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Andrew Carnegie

Andrew Carnegie

Andrew Carnegie, the son of a handloom weaver, was born in Dunfermline, Scotland, on 25th November, 1835. The family had a long radical tradition and his father, William Carnegie, was an active Chartist. His material grandfather, Thomas Morrison, had worked with William Cobbett during his campaign for social reform.

The economic depression of 1848 convinced the Carnegie family to emigrate to the United States where they joined a Scottish colony at Allegheny near Pittsburgh. Andrew began work at 12 in a local cotton factory but continued his education by attending night school.

At 14 Carnegie became a messenger boy in the local Pittsburgh Telegraph Office. His abilities were noticed by Thomas A. Scott, the superintendent of the western division of the Pennsylvania Railroad. He made Carnegie his secretary. During the Civil War Scott was appointed assistant secretary of war and Carnegie went to Washington to work as his right-hand man. Carnegie's work included organizing the military telegraph system.

After the war Carnegie succeeded Scott as superintendent of the western division of the Pennsylvania Railroad. Carnegie shrewdly invested in several promising ventures including the Woodruff Sleeping Car Company and several small iron mills and factories. The most important of these was Keystone Bridge, a company which he owned a one-fifth share.

Carnegie made regular visits to Britain where he observed the rapid developments in the iron industry. He was especially impressed by the converter invented by Henry Bessemer. Carnegie realised that steel would now replace iron for the manufacture of heavy goods.

In 1870 Carnegie erected his first blast furnace where he used the ideas being developed by Bessemer in England. Others followed and by 1874 he opened his steel furnace at Braddock. He took several partners, including Henry Frick, but he always insisted in retaining the majority holding in his various ventures.

Carnegie took a keen interest in social and political issues and wrote a series of books including Round the World (1881), An American Four-in-Hand in Britain (1883) and Triumphant Democracy (1886), where he compared the egalitarianism of America with the class-based inequalities of Britain and other European countries. He praised America's educational system arguing that: "Of all its boasts, of all its triumphs, this is at once its proudest and its best."

In June, 1889, the North American Review published an article by Carnegie on what he called the "Gospel of Wealth". In the article Carnegie argued that it was the duty of rich men and women to use their wealth to benefit the welfare of the community. He wrote that a "man who dies rich dies disgraced".

In 1889 Carnegie decided to allow Henry Frick to become chairman of the Carnegie Companywhile he moved to New York to deal with the growing importance of research and development. Carnegie also spent six months of the year in Scotland with his family.

When Frick took control the firm consisted of various mills and furnaces in the Pittsburgh area. Frick was concerned that there was no centralized management structure and so in 1892 all productive units were integrated to form the Carnegie Steel Company. Valued at $25 million it was now the largest steel company in the world.

In an effort to increase profits, Henry Frick decided to lower the piecework wage rate of his employees. In 1892 the Amalgamated Iron and Steel Workers Union called out its members at the Carnegie's Homestead plant. Frick now took the controversial decision to employ 300 strikebreakers from outside the area. The men were brought in on armed barges down the Monongahela River. The strikers were waiting for them and a day long battle took place. Ten men were killed and 60 wounded before the governor obtained order by placing Homestead under martial law.

Carnegie, who was in Scotland during the strike, was furious with Frick as he had instructed him not to use strikebreakers. In public Carnegie did not criticize Frick and as a result had to take responsibility for what had happened. He later wrote: "I was the controlling owner. That was sufficient to make my name a by-word for years".

The Carnegie Steel Company continued to expand and between 1889 and 1899 annual production of steel rose from 332,111 to 2,663,412 tons, and profits increased from $2 million to $40 million. There was growing conflict between Carnegie and Henry Frick during this period. This came to a head in 1899 and Carnegie bought out Frick for $15 million.

In 1901 Frick joined with J. Pierpont Morgan to purchase the Carnegie Company for $500,000,000 and established the U.S. Steel Corporation that was valued at $1.4 billion. Carnegie himself now had a personal fortune of $225,000,000.

Carnegie set up a trust fund "for the improvement of mankind." This included the building of 3,000 public libraries (380 in Britain), the Carnegie Institute of Pittsburgh, the Carnegie Institute of Technology and the Carnegie Institution of Washington for research into the natural and physical sciences. Carnegie also established the Endowment for International Peace in an effort to prevent future wars.

By the time Andrew Carnegie died in August, 1919, he had given away $350,000,000. A further $125 million was placed with the Carnegie Corporation to carry on his good works.


List of wealthiest historical figures

The list of the wealthiest historical figures gathers published estimates of the (inflation-adjusted) net-worth and fortunes of the wealthiest historical figures. Due to problems arising from different definitions of wealth, ways of measuring it, various economic models throughout history, as well as multiple other reasons, this article discusses the wealthiest people in the following separate historical time periods: Antiquity, Middle Ages and modern period. Accordingly—because of the previously mentioned difficulties—it is not possible to determine the single richest person in all of history.

For the modern period, wealth can be measured more or less objectively via inflation adjustment, e.g. comparing the nominal GDP of the United States of the respective periods, and then converting it into contemporary United States dollars. For the medieval and ancient history, comparison of wealth becomes more problematic, on one hand due to the inaccuracy or unreliability of records, on the other due to the difficulty of comparing a pre-industrial economy to a modern one, and especially in the presence of absolute monarchy, where an entire kingdom or empire is considered the ruler's personal property. The latter factor is also an issue in the early modern to modern period, e.g. various economists nominate Joseph Stalin e Adolf Hitler among The 10 Richest People of All Time.

Excluding monarchs and autocrats, the wealthiest private individuals in the history of capitalism are variously identified as Jakob Fugger (died 1525) who was of the early modern Fugger family of merchants and bankers, [2] prominent figures of India's Delhi and Bengal Sultanate and Mughal Empire, and early 20th-century American entrepreneurs Andrew Carnegie (died 1919) [3] and John D. Rockefeller (died 1937). Frequently, one of these individuals is considered to be the richest person of all time.

While the Rothschild family rose to the status of the wealthiest family of bankers in the 19th century, their wealth was distributed among a number of family members, preventing them from appearing among the wealthiest individuals. The richest among the Rothschilds was the head of its English branch—Nathan Mayer Rothschild (d. 1836)—the richest person of his time. [4] Bernstein and Swan in All the Money in the World (2008) mention the top four richest Americans ever—all tycoons of the Gilded Age—respectively: John D. Rockefeller, Andrew Carnegie, Cornelius Vanderbilt, William Henry Vanderbilt Henry Ford was ranked only 12th. [5]

According to Close (2016), the wealthiest woman in the history of capitalism, excluding monarchs, was L'Oréal heiress Liliane Bettencourt, whose net worth was $40.7 billion in 2015. [6] Including monarchs, he mentions Empress Wu for Antiquity, Razia Sultana and Isabella of Castile for Middle Ages, and Catherine the Great for modern history. [7]


Andrew Carnegie

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Andrew Carnegie, (born November 25, 1835, Dunfermline, Fife, Scotland—died August 11, 1919, Lenox, Massachusetts, U.S.), Scottish-born American industrialist who led the enormous expansion of the American steel industry in the late 19th century. He was also one of the most important philanthropists of his era.

When was Andrew Carnegie born?

Andrew Carnegie was born on November 25, 1835, in Dunfermline, Fife, Scotland.

When did Andrew Carnegie die?

Andrew Carnegie died on August 11, 1919, in Lenox, Massachusetts.

Where did Andrew Carnegie go to school?

Andrew Carnegie lacked a lengthy formal education. Upon his arrival in the United States in 1848, Carnegie became enthusiastically Americanized, educating himself by reading and writing and attending night school in Allegheny, Pennsylvania.

What was Andrew Carnegie best known for?

Andrew Carnegie was an industrialist best known for leading the expansion of the American steel industry in the late 19th century. He was also one of the most important philanthropists of his era, establishing several trusts, including the Carnegie Corporation of New York, the Carnegie Endowment for International Peace, and the Carnegie Institution of Washington.

Carnegie’s father, William Carnegie, a handloom weaver, was a Chartist and marcher for workingman’s causes his maternal grandfather, Thomas Morrision, also an agitator, had been a friend of William Cobbett. During the young Carnegie’s childhood the arrival of the power loom in Dunfermline and a general economic downturn impoverished his father, inducing the Carnegies to immigrate in 1848 to the United States, where they joined a Scottish colony of relatives and friends in Allegheny, Pennsylvania (now part of Pittsburgh). Young Andrew began work at age 12 as a bobbin boy in a cotton factory. He quickly became enthusiastically Americanized, educating himself by reading and writing and attending night school.

At age 14 Carnegie became a messenger in a telegraph office, where he eventually caught the notice of Thomas Scott, a superintendent of the Pennsylvania Railroad Company, who made Carnegie his private secretary and personal telegrapher in 1853. Carnegie’s subsequent rise was rapid, and in 1859 he succeeded Scott as superintendent of the railroad’s Pittsburgh division. While in this post he invested in the Woodruff Sleeping Car Company (the original holder of the Pullman patents) and introduced the first successful sleeping car on American railroads. He had meanwhile begun making shrewd investments in such industrial concerns as the Keystone Bridge Company, the Superior Rail Mill and Blast Furnaces, the Union Iron Mills, and the Pittsburgh Locomotive Works. He also profitably invested in a Pennsylvania oilfield, and he took several trips to Europe, selling railroad securities. By the age of 30 he had an annual income of $50,000.

During his trips to Britain he came to meet steelmakers. Foreseeing the future demand for iron and steel, Carnegie left the Pennsylvania Railroad in 1865 and started managing the Keystone Bridge Company. From about 1872–73, at about age 38, he began concentrating on steel, founding near Pittsburgh the J. Edgar Thomson Steel Works, which would eventually evolve into the Carnegie Steel Company. In the 1870s Carnegie’s new company built the first steel plants in the United States to use the new Bessemer steelmaking process, borrowed from Britain. Other innovations followed, including detailed cost- and production-accounting procedures that enabled the company to achieve greater efficiencies than any other manufacturing industry of the time. Any technological innovation that could reduce the cost of making steel was speedily adopted, and in the 1890s Carnegie’s mills introduced the basic open-hearth furnace into American steelmaking. Carnegie also obtained greater efficiency by purchasing the coke fields and iron-ore deposits that furnished the raw materials for steelmaking, as well as the ships and railroads that transported these supplies to his mills. The vertical integration thus achieved was another milestone in American manufacturing. Carnegie also recruited extremely capable subordinates to work for him, including the administrator Henry Clay Frick, the steelmaster and inventor Captain Bill Jones, and his own brother Thomas M. Carnegie.

In 1889 Carnegie’s vast holdings were consolidated into the Carnegie Steel Company, a limited partnership that henceforth dominated the American steel industry. In 1890 the American steel industry’s output surpassed that of Great Britain’s for the first time, largely owing to Carnegie’s successes. The Carnegie Steel Company continued to prosper even during the depression of 1892, which was marked by the bloody Homestead strike. (Although Carnegie professed support for the rights of unions, his goals of economy and efficiency may have made him favour local management at the Homestead plant, which used Pinkerton guards to try to break the Amalgamated Association of Iron, Steel, and Tin Workers.)

In 1900 the profits of Carnegie Steel (which became a corporation) were $40,000,000, of which Carnegie’s share was $25,000,000. Carnegie sold his company to J.P. Morgan’s newly formed United States Steel Corporation for $480,000,000 in 1901. He subsequently retired and devoted himself to his philanthropic activities, which were themselves vast.

Carnegie wrote frequently about political and social matters, and his most famous article, “ Wealth,” appearing in the June 1889 issue of the North American Review, outlined what came to be called the Gospel of Wealth. This doctrine held that a man who accumulates great wealth has a duty to use his surplus wealth for “the improvement of mankind” in philanthropic causes. A “man who dies rich dies disgraced.”

Chief among Carnegie’s writings are Triumphant Democracy (1886 rev. ed. 1893), The Gospel of Wealth, a collection of essays (1900), The Empire of Business (1902), Problems of To-day (1908), and Autobiography (1920).

Carnegie married Louise Whitfield in 1887. Until World War I, the Carnegies alternated between Skibo Castle in northern Scotland, their home in New York City, and their summer house “Shadowbrook” in Lenox, Massachusetts.

The Editors of Encyclopaedia Britannica This article was most recently revised and updated by Adam Augustyn, Managing Editor, Reference Content.


Carnegie Steel Company

Before he turned 30 years old, Carnegie had served in a variety of roles, but it was in the steel industry where he made his fortune.

One of his greatest innovations was to use the Bessemer process to mass produce steel cheaply and efficiently. He bought rival steel producers like Homestead Steel Works and eventually formed the Carnegie Steel Company, the largest producer of pig iron, steel rails, and coke (fuel) in the world. His empire grew with the addition of other steel producers, furnaces, and steel mills before he eventually sold his company to the newly forming United States Steel Corporation for $480 million. That would look like a little more than $14 billion today.

It was and still is the largest industrial takeover in U.S. history.


The Carnegie Mellon University of today exists because of two philanthropists whose commitment to education and discovery laid the foundation for this institution that is honored to carry their surnames.

Born in 1835, Andrew Carnegie was industrious, intelligent and a shrewd investor, controlling the development of the U.S. steel industry in the late 1800s and amassing a fortune of $372 billion.

In 1900, declaring, “My heart is in the work,” he designated $2 million to create the Carnegie Institute of Technology, nicknamed Carnegie Tech.

Like Carnegie, Andrew W. Mellon focused his efforts on the industrial opportunities available in Pittsburgh. Born in 1855, he was a banker and venture capitalist who held investments in 300 companies during his lifetime, including the Aluminum Company of America, or Alcoa, the chemical company Koppers, the Carborundum Company, and Westinghouse Electric.

Andrew Mellon and his business partner and brother, Richard, recognized that they had built their fortunes by applying new technologies to industries. In 1909, they co-founded the Mellon Institute and School of Specific Industries at their alma mater, the University of Pittsburgh. The Institute conducted so much important research (smog abatement for Pittsburgh, the invention of the gas mask, a pneumonia serum, and more) that in 1928, it was incorporated as the Mellon Institute of Industrial Research.

By the 1960s, Andrew Mellon’s son, Paul, secretly proposed a merger between the two institutions. While the administrators of both Carnegie Tech and the Mellon Institute realized that each had strengths that would increase if they merged, few could have predicted how fast the new institution would transform into a global powerhouse. And so, in 1967, these two legends' visions merged to become Carnegie Mellon University, forever impacting the world of higher education, research and discovery.


Andrew Carnegie—A Fool for Peace

How did a tough businessman like Andrew Carnegie become a pacifist? He read a lot of philosopher Herbert Spencer, which convinced him that through evolution progress was inevitable. Carnegie had lived through the Civil War as a civilian. He recognized that in war there are no winners, only losers. He saw war as backward, barbaric, outmoded. There had to be a better way to settle disputes between nations—which, for Carnegie, was arbitration. Carnegie pledged himself to hasten war’s extinction.

What inclined him to this point of view? He was as committed to ending war as he had been to making a profit. He often said that he worked harder after his retirement from the steel business than he had as an industrialist. I don’t think Carnegie’s anti-war sentiments had much to do with his Scottish Calvinist upbringing. And I don’t think it fair to say he was just a tycoon who embraced an admirable cause.

Who else influenced Carnegie, and what were some of his pacifist ideas? Until Carnegie, the international peace movement was the province of Quakers and international lawyers. Carnegie brought pacifism into the mainstream through articles, speeches, pamphlets, and conferences he sponsored at, among other venues, Carnegie Hall. The major impetus for a revitalized peace movement may have been the Spanish-American War, notably the American invasion and occupation of the Philippines. For people like Carnegie, Mark Twain, William James, and others, the United States was abandoning its principles and donning the mantle of European imperialism in occupying the Philippines with troops who engaged in torture and deprived a people of their independence.

What was Carnegie’s relationship with Presidents Theodore Roosevelt and William Howard Taft? Theodore Roosevelt held Carnegie in contempt. He abhorred Carnegie’s self-righteousness, his unquestioned belief that war was inhumane and wrong. Roosevelt refrained from publicly criticizing Carnegie because he needed the industrialist. Republican businessmen assailed TR as a radical for his trust-busting. The principal industrialist who stood by him was Carnegie, who was admired for his philanthropy. So TR played a double game: in public he feigned friendship and praised Carnegie but in private ridiculed him and opposed his ideas for international arbitration and a world court.

Roosevelt played Carnegie? Yes. After he left the White House, Roosevelt wanted to hunt in Africa. To pay for that expedition, he accepted Carnegie’s donations. In exchange, Carnegie asked TR to broker a peace between the cousins who ruled Germany and Great Britain—Kaiser Wilhelm and King Edward VII. TR agreed, then sabotaged the initiative when he told the kaiser he stood firm in his judgment that war was sometimes necessary, and that no leader should embrace pacifism. When Edward VII died, the peace plan was scuttled for lack of a partner to work with Wilhelm.

How about Taft? Taft was part of the Republican establishment that did not want to alienate Carnegie, a Republican and a donor. Taft admired Carnegie but had little need of him. He invited Carnegie to the White House and listened to him. And Taft worked to get the Senate to agree to treaties binding the United States to arbitrate its differences with selected European nations rather go to war. Those treaties never were ratified.

Carnegie refused to give up. He was a utopian, a visionary. He was not naïve, but he also knew that he’d succeeded at everything he had put his mind to why not international diplomacy? He believed the world was moving away from the barbarism of war and toward greater civilization. It was not absurd to think that the 20th century

Andrew Carnegie envisioned the Palace of Peace at The Hague as a mecca for world leaders to resolve differences without bloodshed.

would be a century of peace through arbitration.

Should Carnegie have taken his case to the people? Carnegie was no populist. He believed, with Spencer, that the “fittest” should and would not only survive but would prosper and lead. And remember: he lived a century ago, when kings, queens, and emperors were alive and well in Europe. Carnegie reached out not to the masses, but to university students, because he believed they were the leaders of tomorrow. He was an adherent of the “great man” theory—that the Roosevelts, the Gladstones, the Carnegies, the emperors and kings, made history.

The Great War devastated him. He was broken by the war and more by national leaders’ enthusiasm and that of the young men following them into war. He hoped President Woodrow Wilson might broker a settlement—he urged Wilson to do so—but when this failed, he retreated into himself. We would say that he had a nervous breakdown. He stopped reading newspapers, ceased writing to dear friends in England, including Liberal Party statesman John Morley, to whom he had corresponded every Sunday for decades. He saw no visitors, stopped talking to his wife and daughter. Only when a truce was signed did he rouse himself, write President Wilson a congratulatory note, offer best wishes on Wilson’s plan for a League of Nations, and propose his Peace Palace at The Hague as a venue for a peace conference.

Was Carnegie’s $25 million-plus outlay for the cause money well spent? His palaces of peace, certainly at The Hague, are living monuments to his dream. So, too, the Carnegie Endowment for Peace. Have these institutions brought peace on earth? Of course not. But have they kept alive a dream have they contributed to the promotion of peace? I think so.

What’s the lesson in Carnegie’s crusade? He was very much a “fool for peace.” His legacy is the notion that civilized people should not consider war inevitable but, rather, an aberration to be abolished. He was a “possibilist,” not a realist. We need more such men, men willing to dream of a better world and to do what they can to bridge the gap between the present and that better future they envision. Andrew Carnegie’s dreams of a world without war are as relevant today, perhaps more so, than they were a century ago.


36c. The New Tycoons: Andrew Carnegie


By the time he died in 1919, Carnegie had given away $350,695,653. At his death, the last $30,000,000 was likewise given away to foundations, charities and to pensioners.

Oil was not the only commodity in great demand during the Gilded Age. The nation also needed steel.

The railroads needed steel for their rails and cars, the navy needed steel for its new naval fleet, and cities needed steel to build skyscrapers. Every factory in America needed steel for their physical plant and machinery. Andrew Carnegie saw this demand and seized the moment.

Humble Roots

Like John Rockefeller, Andrew Carnegie was not born into wealth. When he was 13, his family came to the United States from Scotland and settled in Allegheny, Pennsylvania, a small town near Pittsburgh. His first job was in a cotton mill, where he earned $1.20 per week.

His talents were soon recognized and Carnegie found himself promoted to the bookkeeping side of the business. An avid reader, Carnegie spent his Saturdays in the homes of wealthy citizens who were gracious enough to allow him access to their private libraries. After becoming a telegrapher for a short while, he met the head of a railroad company who asked his services as a personal secretary.


Millionaire Andrew Carnegie spoke against irresponsibility of the wealthy and sharply criticized ostentatious living.

During the Civil War, this man, Thomas Scott , was sent to Washington to operate transportation for the Union Army. Carnegie spent his war days helping the soldiers get where they needed to be and by helping the wounded get to hospitals. By this time, he had amassed a small sum of money, which he quickly invested. Soon iron and steel caught his attention, and he was on his way to creating the largest steel company in the world.

Vertical Integration: Moving on Up

The Bessemer Process

When William Kelly and Henry Bessemer perfected a process to convert iron to steel cheaply and efficiently, the industry was soon to blossom.

Carnegie became a tycoon because of shrewd business tactics. Rockefeller often bought other oil companies to eliminate competition. This is a process known as horizontal integration . Carnegie also created a vertical combination , an idea first implemented by Gustavus Swift . He bought railroad companies and iron mines. If he owned the rails and the mines, he could reduce his costs and produce cheaper steel.

Carnegie was a good judge of talent. His assistant, Henry Clay Frick , helped manage the Carnegie Steel Company on its way to success. Carnegie also wanted productive workers. He wanted them to feel that they had a vested interest in company prosperity so he initiated a profit-sharing plan.

All these tactics made the Carnegie Steel Company a multi-million dollar corporation. In 1901, he sold his interests to J.P. Morgan, who paid him 500 million dollars to create U.S. Steel.

Giving Back

Retirement did not take him out of the public sphere. Before his death he donated more than $350 million dollars to public foundations. Remembering the difficulty of finding suitable books as a youth, he helped build three thousand libraries. He built schools such as Carnegie-Mellon University and gave his money for artistic pursuits such as Carnegie Hall in New York.

Andrew Carnegie was also dedicated to peace initiatives throughout the world because of his passionate hatred for war. Like Rockefeller, critics labeled him a robber baron who could have used his vast fortunes to increase the wages of his employees. Carnegie believed that such spending was wasteful and temporary, but foundations would last forever. Regardless, he helped build an empire that led the United States to world power status.


3. J.P. Morgan played solitaire while attempting to quell the Panic of 1907.

Portrait of J.P. Morgan. (FPG/Getty Images)

When he wasn’t investing in corporations, steering the United States out of financial crises and collecting art, J.P. Morgan loved to play solitaire. During the Panic of 1907, he famously locked the nation’s top bankers in his study on Madison Avenue, forcing them to discuss his plan to save the economy. As the bankers talked, Morgan allegedly sat outside playing solitaire, flipping the cards while awaiting their decision. He ultimately convinced them to contribute their money toward keeping the country’s troubled trusts afloat.


Beginning of the Homestead strike

With the union’s three-year contract with Carnegie coming to an end in June 1892, Frick announced pay cuts for hundreds of Homestead workers. After refusing to negotiate with the union, he shuttered the Homestead steel mill on June 29, locking 3,800 workers out. Only around 725 of those workers belonged to Amalgamated, but all of them voted to strike, surprising Frick, who had assumed only union members would strike.

After Frick had a high fence topped with barbed wire built around the mill itself, leading workers to dub it 𠇏ort Frick,” armed workers surrounded the plant and sealed off the town. In order to protect the strikebreakers he planned to hire, Frick followed the example of many industrialists battling unions and called in the Pinkerton National Detective Agency. Pinkerton detectives had become known for infiltrating unions and breaking strikes nationwide, including at another Carnegie plant a few years earlier.

Stereoscopic photograph showing striking steel workers on a hill above the Carnegie Steel Company&aposs Homestead Steel Works in Homestead, Pennsylvania, July 1892.


Philanthropy

In 1901, Carnegie made a dramatic change in his life. He sold his business to the United States Steel Corporation, started by legendary financier J.P. Morgan. The sale earned him more than $200 million. At the age of 65, Carnegie decided to spend the rest of his days helping others. While he had begun his philanthropic work years earlier by building libraries and making donations, Carnegie expanded his efforts in the early 20th century.

Carnegie, an avid reader for much of his life, donated approximately $5 million to the New York Public Library so that the library could open several branches in 1901. Devoted to learning, he established the Carnegie Institute of Technology in Pittsburgh, which is now known as Carnegie-Mellon University in 1904. The next year, he created the Carnegie Foundation for the Advancement of Teaching in 1905. With his strong interest to peace, he formed the Carnegie Endowment for International Peace in 1910. He made numerous other donations, and it is said that more than 2,800 libraries were opened with his support.

Besides his business and charitable interests, Carnegie enjoyed traveling and meeting and entertaining leading figures in many fields. He was friends with Matthew Arnold, Mark Twain, William Gladstone, and Theodore Roosevelt. Carnegie also wrote several books and numerous articles. His 1889 article "Wealth" outlined his view that those with great wealth must be socially responsible and use their assets to help others. This was later published as the 1900 book The Gospel of Wealth.


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