To see a picture of Carnegie Hall in New York today, or even from 100 years ago, it’s classic Italian-Renaissance architecture of stone and brick would not turn your thoughts to steel. Even knowing that it came to life at the height of the Industrial Revolution between 1890 and 1930, iron is not the foundation you see in timeless photography of this iconic city sight.
Carnegie Hall 1974
And yet, it would not exist if not for steel.
Andrew Carnegie, best known in modern culture for his vast philanthropic projects, including libraries, schools, and music halls, immigrated to America from Scotland with his family in 1848. They had no fortune or influence to speak of, and he spent his childhood working manual-labor jobs in textile mills and office messenger jobs. He went to work for the Pacific Railroad in 1853, and turned his telegraphic skills to work for the War Department in 1861 with the outbreak of the Civil War.
With no particular stake in the War itself, Carnegie focused on small investments in the railroad and railroad construction industry, which turned into a lucrative contracting business. He operated as a successful middle-man between the railroads and the wood and steel suppliers as tracks were laid all across America from 1864-1873.
He turned his full attention to steel production itself in 1874. Using emerging technologies from Europe, Andrew Carnegie began to amass the assets that would eventually become Carnegie Steel Company. Relying on his previous connections in the railroad industry to corner huge materials contracts, Carnegie was in a position to not just survive, but actually thrive in the economic depression of the 1890s, and by 1900 Carnegie Steel Company was producing 25% of all steel manufactured in the country.
At the height of his enterprise in 1901, Carnegie sold the total holdings of Carnegie Steel Company to J.P. Morgan for $500 million, making him the richest man in the world at the time.
carnegie library Dallas, Oregon
And it was these millions--forged in the fire and soot of steel mills up and down the east coast of the United States--which built the foundations, the walls and windows, the stairs and stages of more than 2,500 public libraries and over 100 more semi-public buildings for the arts, music, education, and community development. Carnegie used his fortune as seed money to create over 30 non-profit organizations that still operate today, supporting public efforts in the arts, music, and literature.
It is estimated that of the original $500 million Carnegie received for what would become his retirement, he charitably returned more than $350 million to the American public through his philanthropic activities over the next 18 years.
“Do real and permanent good in this world.” Andrew Carnegie
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