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Captains of Industry or Robber Baron Project
Transcript of Captains of Industry or Robber Baron Project
Morgan Brandel & Courtney Lee **How did your Captain of Industry make his money?
Stanford acquired his wealth from railroad building.
**At its largest point, how large was your Captain's business?
The Big Four earned an estimated profit of $54 million and the transcontinental railroad cost about $50 million to build. Leland Stanford Captains of Industry or Robber Baron Project -Lawyer
-Governor of California
-United States Senator
-President of the Central Pacific Railroad VS Stanford was one of the "Big Four," the owners of the Central Pacific Railroad.
1. Leland Stanford
2. Charles Crocker
3. Mark Hopkins
4. Collis P. Huntington (1824-1893) How did Stanford, or his business treat their workers?
- Chinese employees received wages of $27 or $30 a month, minus the cost of food and board. In contrast, Irishmen were paid $35 per month, with board provided.
- Workers lived in canvas camps alongside the grade. In the mountains, wooden bunkhouses protected them from the drifting snow.
- Workers were also provided a cook who purchased food and prepared it on site.
- The Ten-Mile Day was a day where workers made a record of laying down ten miles of track in one day.
- Construction crews worked from sunrise to sunset, six days in a week. Working Conditions
- In the tunnels, particularly the 1659 foot Summit Tunnel, it was Chinese work crews who were responsible for the blasting. The rock was so hard that only about seven to eight inches of progress were made in a day. That is, until they began to use nitroglycerin in 1866. With the nitroglycerin, progress was made much faster, but at a greater expense of life. Between the blasting on the cliff face and the blasting in the tunnels, numerous Chinese workers perished. The "Central Pacific did not keep record of coolie casualties"
- Work continued through the winters, which in the high Sierras were rough and cold and full of snow and blizzards. The work continued under the snow. The work crews lived like "arctic moles", only seeing daylight when they poked through new air holes and smoke vents The engineers wrote "In many cases, the road between camp and work was through snow tunnels, some of them 200 feet long. The construction of retaining work in the canyons carried on through the winter. A great dome was excavated in the snow, where the wall was to be built, and the wall stones were lowered through the shaft in the snow to the men working inside the dome... There were many snowslides. In some cases entire camps were carried away and the bodies of the men not found until the following spring. The snow became such a problem that numerous retaining walls and snow sheds were erected to allow trains to continue through the snowy sierras during the winter. In Stanford's business dealings he ostensibly supported laissez-faire but not to the extent of allowing competition to his various business enterprises. US HISTORY A
2nd Hour. 10-15-12 Between 1850 and 1870, over 129 million acres (seven percent of the continental United States) had been ceded to 80 railroad companies. Land Grants
- In 1862, President Abraham Lincoln signed the first Pacific Railway bill, which then was amended in 1864.
- The Central Pacific got eight million acres and $24 million in bonds.
- In 1864, the Pacific Railroad Act doubled the Central Pacific and Union Pacific land grants from 10 to 20 miles of alternating sections for each mile of road built, and arranged for earlier release of federal loans of $32,000 to $48,000 per mile of road. - On June 28, 1861, Stanford was named president of the Central Pacific Railroad company.
- On May 10, 1869, Stanford drove a gold spike in the final section of track in Promontory Point Utah. - Stanford served as president and director of the Central Pacific Rail Road Company from its inception until his death in 1893.
- He was director of the Southern Pacific Company from 1885 to 1893, and president form 1885 to 1890. - The transcontinental railroad is 3,500 miles long and 2,000 of those miles were added when it work started in 1863.
- Track for the railroad started to be laid in 1863 in Omaha and was completed in 1869 in Utah. How did Stanford spend his money?
- Operated the world’s largest vineyard at the 59,000-acre Vina Ranch near Sacramento.
- Bought and remodeled a mansion twice in Sacramento, California.
- Sponsored early experiments in motion picture photography.
- Purchased 650 acres of Rancho San Francisquito for a country home and began the development of his famous Palo Alto Stock Farm. - Stanford persuaded the California legislature to give more than $750,000 to the cash-starved Central Pacific to allow it to build part of the first transcontinental railroad. For its part, the Central Pacific would get five miles of land on either side of the track it laid and up to $48,000 per mile. Donations
- Following his son’s untimely death, Stanford decided to establish a university in his honor. He said, “I was thinking that since I could do no more for my boy, I might do something for other people’s boys in Leland’s name.” He persuaded the California legislature in 1885 to pass an act enabling the establishment of a university. How did Stanford donate his money?
- Stanford donated his $30 million endowment to the university, which consisted of the 9,000-acre Palo Alto ranch, the 59,000-acre Vina Ranch, the Stanford home in San Francisco, the 22,000 acre Gridley ranch, other real estate, and interest-bearing securities. Captain of Industry
- We believe that Leland Stanford was a "Captain of Industry," because he built several public libraries and schools throughout the nation and didn't spend all his money on ravishing things for himself. He was able to bring in large numbers of Chinese immigrants to work for a pretty low cost, which allowed him to build the Central Pacific Railroad faster and less costly in the end. Stanford was also successful in establishing many different types of industries that did not involve railroads, such as wine making. He learned that people had to build up from the bottom and not just try to start at the top when conducting business. Throughout his life this idea of money making stayed with him and he was considered one of the many “Captains of Industries” during his time. Citations:
- "Leland Stanford". Encyclopædia Britannica. Encyclopædia Britannica Online.
Encyclopedia Britannica Inc., 2012. Web. 15 Oct. 2012
- Gale, Thomas. "Leland Stanford Biography." Encyclopedia of World Biography. N.p.: n.p., n.d. BookRags. BookRags, 2006. Web. 15 Oct. 2012. <http://www.bookrags.com/biography/leland-stanford/>.
- McLaughlin, Daniel. "The Real Robber Barons." Editorial. Www.post-journal.com. Post-journal, 21 May 2011. Web. 15 Oct. 2012. <http://www.post-journal.com/page/content.detail/id/584740/The-Real-Robber-Barons.html?nav=5071>.