When Thomas A. After that, Theodore Woodruff approached Carnegie with the idea of sleeping train cars and offered him a share in the Woodruff Sleeping Car Company. In order to invest, Carnegie had to secure another bank loan. That was more than three times his salary from his job at the Pennsylvania Railroad.
During the Civil War, Pittsburgh became an important place of production for gunboats, cannons and more. He used his connections to the Pennsylvania Railroad Company management to secure contracts and build tracks across the state. As his wealth grew, Carnegie began to develop the principles of giving that would define his later career. When he was 33, Carnegie wrote a letter to himself, urging himself to live modestly and charitably.
Beyond this never earn -- make no effort to increase fortune, but spend the surplus each year for benevolent purposes.
Cast aside business forever except for others. Settle in Oxford and get a thorough education, making the acquaintance of literary men this will take three years active work -- pay especial attention to speaking in public.
Man must have an idol -- the amassing of wealth is one of the worst species of idolatry. No idol more debasing than the worship of money. Whatever I engage in I must push inordinately therefore should I be careful to choose that life which will be the most elevating in its character.
To continue much longer overwhelmed by business cares and with most of my thoughts wholly upon the way to make more money in the shortest time, must degrade me beyond hope of permanent recovery. I will resign business at 35, but during the ensuing two years, I wish to spend the afternoons in securing instruction, and in reading systematically.
Carnegie did not retire by the age of 35, as he had planned. Instead, he continued to grow his influence within the steel industry over the course of three decades. He opened his first steel plant in , bought a rival steel company, the Homestead Steel Works, in , and formed the Carnegie Steel Company in Using technological advances including the Bessemer process and vertical integration, Carnegie built the largest steel empire in American history.
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