The Age of Big Business: A Chronicle of the Captains of IndustryHendrick, Burton Jesse
History
The Age of Big Business: A Chronicle of the Captains of Industry
Hendrick, Burton Jesse
Big business -- United States -- History; Industries -- United States -- History
Fate had placed Rockefeller in Cleveland in the days when the oil
business had got well under way. In the early sixties a score or so of
refineries had started in this town, many of which were making large
profits. It is not surprising that Rockefeller, gazing at these black
and evil-smelling buildings from the vantage point of his commission
office, should have felt an impulse to join in the gamble. He plunged
into this new activity at the age of twenty-three. He possessed two
great advantages over most of his adventurous competitors; one was
a heavy bank account, representing his earnings in the commission
business, and the other a partner, Samuel Andrews, who was generally
regarded as a mechanical genius in the production of illuminating oil.
At the beginning, therefore, Rockefeller had the two essentials which
largely explain his subsequent career; an adequate liquid capital
and high technical resources. In the first few years the Rockefeller
houses--he rapidly organized three, one after another--competed with a
large number of other units in the oil business on somewhat more than
even terms. At this time Rockefeller was merely one of a large number of
successful oil refiners, yet during these early days a grandiose scheme
was taking shape in that quiet, insinuating, far-reaching brain. He
said nothing about it, even to his closest associates, yet it filled his
every waking hour. For this young man was taking a comprehensive sweep
of the world and he saw millions of people, in the Americas, in Europe,
and in Asia, whose need for the article in which he dealt would grow
more insistent every day. He saw that he was handling a product which
was becoming as much a necessity of life as the air itself. The young
man reached out to grasp this business. "All of it," we can picture
Rockefeller saying to himself, "all of it shall be mine." Any study of
Rockefeller's career must lead to the conclusion that, before he had
reached his thirtieth year, he had determined to monopolize this
growing necessity. The mere fact that this young man could form such a
stupendous plan indicates that in him we are meeting for the first time
a new type of industrial leader. At that time monopolies were unknown in
the United States. That certain old English Kings had frequently
granted exclusive trading privileges to favored merchants most educated
Americans knew; and their knowledge of monopolies extended little
further than this. Yet about 1868 John D. Rockefeller started
consciously to revive this ancient practice, and to bring under
one ownership the magnificent industry to which Drake's sensational
discovery had given rise.
Public-domain text, read in full here on John Shaqi.
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