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
The effect of these decisions was the dissolution of the two concerns
into certain constituent parts which were supposed to reestablish
competition; but no marvelously beneficial economic results seem to have
accrued. The inner circles of the two combinations made huge sums from
the appreciation of stocks; the prices of gasoline and some other oil
products mounted with astonishing speed to a higher rate than ever
before; and smaller would-be competitors declared that the constituent
companies were so large that competition with them was next to
impossible. No one showed any great enthusiasm about the results of the
prosecution and decisions, except perhaps some eminent leaders in the
business world, who shared the opinion of Mr. J. P. Morgan that the
doctrines of the Court were "entirely satisfactory," and to be taken as
meaning that indiscriminate assaults on large concerns, merely because
of their size, would not be tolerated by the Court. Radical
"trust-breakers" cried aloud that they had been betrayed by the eminent
tribunal, and a very large section of the population which had come to
regard trusts as a "natural evolution" looked upon the whole affair as
an anticlimax. Mr. Taft, in a speech shortly after the decisions of the
Court, expressed his pleasure at the outcome of the action and invited
the confidence of the country in the policy announced. He had carried a
great legal battle to its conclusion, only to find those who cheered the
loudest in the beginning, indifferent at the finish.
_The Overthrow of Speaker Cannon_
From the beginning of his administration, it was apparent that Mr.
Taft's party in Congress was not in that state of harmony which presaged
an uneventful legislative career. The vote on the tariff bill, both in
the Senate and the House, showed no little dissatisfaction with the way
in which the affairs of the party were being managed. The acrimony in
the tariff debate had been disturbing, and the attacks on Speaker Cannon
from his own party colleagues increased in frequency and virulence
inside and outside of Congress.
Under this astute politician and keen parliamentary manager, a system of
legislative procedure had grown up in the House, which concentrated the
management of business in the hands of a few members, while preserving
the outward signs of democracy within the party. The Speaker enjoyed the
power of appointing all of the committees of the House and of
designating the chairmen thereof. Under his power to object to a request
for "unanimous consent," he could refuse to recognize members asking for
the ear of the chamber under that privilege. He, furthermore, exercised
his general right of recognition in such a manner as to favor those
members who were in the good graces of the inner circle, which had
naturally risen to power through long service.
Public-domain text, read in full here on John Shaqi.
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