Michael Liu

History
Tuccinardi
12/9/13
Andrew Carnegie Character Testimonial
My name is Andrew Carnegie. November 25, 1835 in Scotland. When I was
twelve, I immigrated to America with my family, I began working as a telegrapher in the
Pittsburgh Office of the Ohio Telegraph Company for $2.50 a week. Soon I was hired by
Thomas A. Scott as a Telegrapher for the Pennsylvania railroad company for $4.00 a
week. I slowly gained ranks and became the superintendent of the Pittsburgh division of
the railroad. At the age of thirty, I became very wealthy because of my wise
investments. I then left the railroad business to invest in steelmaking during the
depression of the 1870s. I had started with one steel mill but eventually, using business
tactics that I learned on the railroads, I outlasted most of my competitors and bought my
main rival Homestead steel works and from there I created the Carnegie Steel
Company. The Bessemer process of making steel allowed my industry to produce a lot
of steel for our consumers. By 1889, the U.S. had created more output of steel than the
United Kingdom mostly thanks to my company and our production rates. When I was
60, I had become the most dominant industrialist in the steelmaking business. I then
sold my company to J.P. Morgan who wanted to create an integrated steel company
that would lower the prices of products for consumers to buy. I received $250 million in
U.S. Steel bonds and that made me one of the richest men in the world. I retired soon
after and became a philanthropist. I cared for the academics and I donated much of my
money to create new Universities, libraries, charities and foundations. I donated nearly
$350 million of my $400 million. I died on August 11, 1919 and died by my standards: A

rich man who dies rich, dies disgraced. The rest of my $30 million was donated to other
places.
I used my power to hire the best people in steel technology. I shrewdly held onto
control of my enterprise. that allowed me to make a profit in my enterprise. In my field, I
outmaneuvered my rivals and by using my power, I conquered the entire steel industry. I
used my power well because I made a giant profit. I used the techniques I learned on
the railroads to run my steel industry. I used my power to hold down wages and salaries
of my workers. This allowed me to save money. I also held costs to minimum prices way
below my competitors that made the consumers choose me over my rivals. I also kept
with new technology which made my industry even more modern. I captured an ever
growing industry using my power well.
What I did better than other industrialists is that I donated nearly all of my money
to charitable causes. Today, there are many libraries and universities that were founded
by me. People like John D. Rockefeller and Cornelius Vanderbilt only donated a little bit
of their fortune.