t at the speed they kept up on the killing beds, and all with butcher knives, like razors, in their hands-well, it was to be counted as a wonder that there were not more men slaughtered than cattle”(Meltzer 84). There was nothing stopping the employers from treating workers so poorly so this was used to eliminate costs in order for the owners to compete in the economy. These people became successful in the private interest economy as industrial leaders by using such abuses on the workers.Despite the disrespect of the employers who were succeedingfor their workers at the bottom of the economic ladder, the wealthiest in most cases gave back to the workers. In this time of extreme economic growth for America, many industries profits skyrocketed making the owners wealthy. The Steel, coal, and petroleum industries were particular examples of these which produced the most profits. “The steel industries expansion in the fifty years following 1865 was phenomenal. In 1860 the United States produced 13,000 tons of steel. By 1879 American Furnaces were turning out over a million tons a year. By 1910 the United States was making over 28 million tons and was by far the largest producer of steel in the world”(Burner 417). Not only the size of these industries is impressive but also the speed at which the activity was happening. One catalyst that accelerated economic activity in the Gilded Age was the sudden excess of capitol that was invested. This was done through investment banking. J.P. Morgan was one entrepenuer in particular who took advantage of the growth of industries through investment banking. He had put money in companies before they had become too large and then when they grew his money did also. Morgan had invested in the railroad early enough to gain an important role in the later merged railway. Another element of the economy which helped to propel its growth was the seemingly endless pool of workers that the industri...
