United States -- Economic conditions -- 1918-1945; United States -- History
The make-up of some of the sub-committees revealed the forces behind the
Defense Council. Thus Mr. Willard's sub-committee on "Express" consisted
of four vice-presidents, one from the American, one from the
Wells-Fargo, one from the Southern and one from the Adams Express
Company. His committee on "Locomotives" consisted of the Vice-President
of the Porter Locomotive Company, the President of the American
Locomotive Company, and the Chairman of the Lima Locomotive Corporation.
Mr. Rosenwald's committee on "Shoe and Leather Industries" consisted of
eight persons, all of them representing shoe or leather companies. His
committee on "Woolen Manufactures" consisted of eight representatives of
the woolen industry. The same business supremacy appeared in Mr.
Baruch's committees. His committee on "Cement" consisted of the
presidents of four of the leading cement companies, the vice-president
of a fifth cement company, and a representative of the Bureau of
Standards of Washington. His committee on "Copper" had the names of the
presidents of the Anaconda Copper Company, the Calumet & Hecla Mining
Company, the United Verde Copper Company and the Utah Copper Company.
His committee on "Steel and Steel Products" consisted of Elbert H. Gary,
Chairman of the United States Steel Corporation; Charles M. Schwab, of
the Bethlehem Steel Company; A. C. Dinkey, Vice-President of the Midvale
Steel Company; W. L. King, Vice-President of Jones & Loughlin Steel
Company, and J. A. Burden, President of the Burden Steel Company. The
four other members of the committee represented the Republic Iron and
Steel Company, the Lackawanna Steel Company, the American Iron and Steel
Institute and the Picklands, Mather Co., of Cleveland. Perhaps the most
astounding of all the committees was that on "Oil." The chairman was the
President of the Standard Oil Company, and the secretary of the
committee gives his address as "26 Broadway," the address of the
Standard Oil Company. The other nine members of the committee were oil
men from various parts of the country. What thinking American would have
suggested, three years before, that the Standard Oil Company would be
officially directing a part of the work of the Federal Government?
Comment is superfluous. Every great industrial enterprise of the United
States had secured representation on the committees of business men that
were responsible for the direction of the economic side of war making.
Then came the Liberty Loan campaigns and Red Cross drives, the direction
of which also was given into the hands of experienced business men. In
each community, the leaders in the business world were the leaders in
these war-time activities. Since the center of business life was the
bank, it followed that the directing power in all of the war-time
campaigns rested with the bankers, and thus the whole nation was
mobilized under the direction of its financiers.
Public-domain text, read in full here on John Shaqi.
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