Title: Andrew Carnegie: The railroad and steel magnate who played his more imperative role as a Philanthropist
Headings: Andrew Carnegie: The railroad and steel magnate who played his more imperative role as a Philanthropist
Andrew Carnegie: The railroad and steel magnate who played his more imperative role as a Philanthropist
Content: He was paid in gold bonds that would accrue at 5% interest over 50 years, and he retired at the age of 66. Morgan’s buyout of Carnegie Steel and other steel companies eventually became the United States Steel Corporation or U.S. Steel. Now a man of vast wealth, Carnegie focused all of his time on philanthropy. In 1889, he published an article titled “The Gospel of Wealth” that outlined his views on how industrialists should use their wealth to create and support good causes. Carnegie’s own efforts throughout his business and retirement years focused on educational and social improvements, especially the creation of public libraries. Carnegie with African-American leader Booker T. Washington (front row, center), seen here in 1906 while visiting Tuskegee Institute
Carnegie’s goal was to create as many libraries as he could, and he eventually donated funds to open 3,000 libraries worldwide. He began achieving his goal in his hometown of Dunfermline, Scotland, by opening a library in 1883. He also provided funding for libraries in Allegheny, Pittsburgh, and Edinburgh. His directions were always focused on building the library and purchasing books to fill it, but the city was obliged to give the land and fund the library’s operation. Andrew Carnegie’s philanthropy.