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This test consists of 5 short answer questions, 10 short essay questions, and 1 (of 3) essay topics.

Short Answer Questions

1. They make a deal that is considered what?

2. The mill site is strategically situated _______________ where the Pennsylvania, Baltimore and Ohio railroad and river transportation system is readily available, nearby the coal fields.

3. One of the country's largest banking houses Jay Cooke's collapses, credit structures tumble and _____________ businesses fail in a year.

4. Carnegie forces another _____________ partners out until only Schwab survives, while bringing in "young geniuses" who prove their merit on cost sheets.

5. Carnegie's methods in steel concentrate what?

Short Essay Questions

1. What are the benefits of the Cyclops and Union Mills merger?

2. Describe the seven years of peace and prosperity in the North.

3. What causes the 1893 depression? What does Carnegie do at this time?

4. What does Schwab do for the business?

5. Describe Carnegie's replacement of equipment.

6. What does Carnegie do between 1872 and 1889?

7. Describe the economic collapse. How are Carnegie and others affected by it?

8. Carnegie's interest and insistence on cost-cutting leads him into more complex areas of manufacturing detail composition and chemistry. Give an example of this.

9. How does Carnegie benefit from cutting costs?

10. What venture is formed between Tom Miller and Carnegie?

Essay Topics

Write an essay for ONE of the following topics:

Essay Topic 1

Carnegie and George Pullman make "The Pullman Palace Car Company" a joint venture.

Part 1) How does this joint venture come about? Is this a good decision for both men? Why or why not? What does this joint venture reveal about both Carnegie and Pullman?

Part 2) How does this venture affect the triumvirate? How does it affect other stockholders? How does it lead to the end of stock speculation? How does this end of speculation lead Carnegie in a new direction?

Part 3) Think of two companies you admire or whose products you enjoy. What would it be like if they joined forces? How would this joint venture affect them? How would it affect customers like yourself?

Essay Topic 2

With the forming of an enterprise to manufacture Bessemer steel, Carnegie changes from capitalist to entrepreneur.

Part 1) Why does he decide to move into the steel business? How does this change him from a capitalist to an entrepreneur? Is this a good maneuver? If so, why? If not, why not?

Part 2) Carnegie follows a policy of putting all of his eggs in the same basket and watching that basket. Is this a good policy? Why or why not? How has becoming an entrepreneur changed Carnegie? In what ways has he stayed the same?

Part 3) Carnegie's partners include many wealthy executives and merchants. How important are these men in Carnegie's new ventures in steel? How have others been important in Carnegie's professional career? How important are others in your own life and advancements you have made?

Essay Topic 3

Carnegie invests in the Keystone Bridge Company.

Part 1) What is the Keystone Bridge Company? How is this investment significant? What investments and decisions lead up to this investment?

Part 2) Why might a company such as the Keystone Bridge Company be so important at this time? What connection does this company have with railroads and the telegraph?

Part 3) If Carnegie were alive today, in what types of companies might he invest? Why? If you were to invest in a company, which one would it be? Why?

(see the answer keys)

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