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Between 1860 and 1890, the U.S. Patent Office issued over 400,000 patents. The technological innovation and applied science promoted by entrepreneurs brought about many inventions still in use today.

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Here, Cornelius Vanderbilt straddles his two railroads, the "Hudson River R.R." and the "NewYork Central R.R.", admonishing his competitor, "Now then Jim--No J

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In 1869, Jay Gould and Jim Fish cornered the gold market by bribing the U.S. Treasury Secretary into not releasing gold into circulation, which drove up the price of gold which Gould and Fisk were hoarding.

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John D. Rockefeller often resorted to using spies and extortion to influence railroads to work in his favor by offering him kickbacks and rebates that were denied to his competitors.

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“This then, is held to be the duty of the man of wealth: First, to set an example of modest, unostentatious living, shunning display or extravagance;...and, after doing so, to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer...to produce the most beneficial results for the community – the man of wealth thus becoming the mere trustee and agent for his poorer brethren, bringing to their service his superior wisdom, experience and ability to administer, doing for them better than they would or could do for themselves.” - Andrew Carnegie

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The steamboat and railroad tycoon, Cornelius Vanderbilt continuously cut shipping rates to the point that other steamboat and railroad companies could not compete and were forced out of business.

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In 1895, at the depths of the Panic of 1893, J.P. Morgan loaned the U.S. Treasury $65 million in gold to safeguard the collapse of the U.S. government.

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In response to a strike at Andrew Carnegie’s Homestead, Pennsylvania steel plant in 1892, Carnegie and Henry Clay Frick hired Pinkerton detectives to protect strikebreakers brought in to work in place of the striking workers. Ten men were killed and hundreds injured in an attempt to break the strike

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“Thus the problem of Rich and Poor to be solved. The laws of accumulation will be left free; the laws of distribution free. Individualism will continue, but the millionaire will be a trustee for the poor; entrusted for a season with a great part of the increased wealth of the community, but administering it for the community far better than it could or would have done itself.” – Andrew Carnegie

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In 1901 J.P. Morgan’s U.S. Steel was the first billion-dollar company in the world with an authorized capitalization of $1.2 billion. The size and productivity of U.S. Steel allowed the U.S. to compete globally against countries such as Britain and Germany.

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By 1890, the richest 9 percent of Americans held 75 percent of the nation’s wealth. The average yearly income for workers was $380. Andrew Carnegie had a yearly income of $25 million in 1900.

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“It will be a great mistake for the community to shoot the millionaires, for they are the bees that make the most honey, and contribute most to the hive even after they have gorged themselves full.” – Andrew Carnegie

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The entrepreneur James J. Hill often donated seed, grain, and cattle to farmers who had been affected by drought and depression.

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“While the law [of competition] may be sometimes hard for the individual, it is best for the race, because it insures the survival of the fittest in every department. We accept and welcome, therefore, as conditions to which we must accommodate ourselves, great inequality of environment, the concentration of business, industrial and commercial, in the hands of the few, and the law of competition between these, as being not only beneficial, but essential for the future progress of the race.” – Andrew Carnegie

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After his retirement, Andrew Carnegie donated most of his money (over $350 million) to establish libraries, schools and universities as well as a pension fund for former employees.