Crypto is a consensus revolution for the new rich.

On November 28, 1889 the Johnstown Flood occurred after the catastrophic failure of the South Fork Dam, located on the south fork of the Little Conemaugh River, 14 miles upstream of the town of Johnstown, Pennsylvania. The dam ruptured after several days of extremely heavy rainfall and 2,200 people down stream lost their lives. This was the most significant man made loss of life in that time. It was a disaster and in that disaster lies a story that I will tell in this article.

Prior to the flood, the South Fork Fishing and Hunting club purchased the abandoned reservoir, made less than well-engineered repairs to the old dam, raised the lake level, built cottages and a clubhouse. The dam frequently sprang leaks and was patched, mostly with mud and straw; the club were well aware of the dangers, but the warnings were ultimately disregarded and a massive loss of life occurred as a result.

The fishing and hunting club was more like a country club for rich industrialists and one of the members was Andrew Carnegie. He was a steel magnate and in his industrialist capacity he helped to build the cities of America by providing the steel through his empire of steel mills.

He became distraught over the flood and because of it he proceeded to turn his life and wealth towards philanthropic efforts. The replacement of the Johnstown library became the first of many endeavours to use his immense wealth to benefit the wider society. Over the years that preceded the flood he established more than 3,000 public libraries throughout the United States, Britain, Canada and other English-speaking countries, as well as donating a large part of his wealth to educational institutions and universities.