Contemporary American History, 1877-1913Beard, Charles A. (Charles Austin)
History
Contemporary American History, 1877-1913
Beard, Charles A. (Charles Austin)
United States -- History -- 1865-1921
Whether some special privileges beyond the ownership of basic natural
resources was necessary to bring about combinations on a large scale,
the leaders in such combinations seem to have engaged extensively in
politics, contributing to the campaign funds of both parties, helping to
select their candidates, and maintaining expensive lobbies at Washington
and at the capitals of the several states. Mr. Havemeyer admitted before
a Senate committee in 1893 that the Sugar Trust was "a Democrat in a
Democratic state and a Republican in a Republican state"; and added that
in his opinion all other large corporations made contributions to the
two leading parties as a matter of course, for "protection." The
testimony taken by the New York insurance investigating committee in
1905 and by the Clapp committee of the United States Senate in 1912
revealed the fact that during the period between 1896 and 1912 millions
of dollars had been contributed to the Republican party by the men who
had been most active in organizing the great industrial combinations,
and that representatives of the same group had also given aid and
comfort to the Democratic party,[51] although the latter, being out of
power at Washington, could not levy tribute with the same effectiveness.
The statesman of the new capitalism was Mr. Marcus A. Hanna. Mr. Hanna
was born in 1837 of pioneer stock of the second or third generation,
after the roughness of the earlier days was somewhat smoothed away
without injury to the virility of the fiber. He entered business in
Cleveland in 1858 at a time when a remarkable group of business men,
including Mr. John D. Rockefeller, were laying the foundation of their
fortunes. Endowed with hard, practical, economic sense, he refused to be
carried away by the enthusiasm that was sweeping thousands of young men
of his age into the Union army, and he accordingly remained at his post
of business.[52] It was fortunate for his career that he did not lose
those four years, for it was then that he made the beginnings of his
great estate in coal, iron, oil, and merchandising.
Public-domain text, read in full here on John Shaqi.
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