I was actually looking this question up this question because I am taking a really big test and this question is on the study guide so this is in my social studies book: They are Cornelius Vanderbilt James J. Hill and some other people
railroad barons were created because the industry consolidated. Consolidation made the large companies more efficient..
Jesse James.
Congress, railroad barons, banks, and investors.
they made fortunes by consolidating several companies
stock watering and bribery of public officials
andrew carnegie
There were many corrupt businessmen during this time, especially in the railroad business. and the pacific union.
As the railroad network expanded, the railroad companies competed fiercely with one another to keep old customers and to win new ones. Large railroads offered secret discounts called rebates to their biggest customers. Smaller railroads that could not match these rebates were often forced out of business. The railroad barons also made secret agreements among themselves, known as pools. They divided the railway business among their companies and set rates for a region, a railroad could charge higher rates and earn greater profits.
Railroads were the chief cause for the unprecedented growth of the Gilded Age. Railroad Barons by building of the Transcontinental Railroad made travel accessible to more people. A trip that would have taken six months now only took six days. It also made the shipping of goods across the company economically feasible and increased sales for businesses that relied on the transportation industry in some way.
Barons
barons?
Yes, because they were already making business deals and talking about rates when trying to consolidate with smaller companies.