Antitrust law -- United States -- Fiction; Capitalists and financiers -- Fiction; Railroad stories
At this time Galt was laying the foundation for an undisclosed
structure. It had to be deep and enduring, for the strain would be
tremendous. He poured money into the Great Midwestern with a raging
passion. As the earnings increased he plowed them in. With the
assistance of the pessimistic treasurer he disguised the returns.
Improvements were charged to expenses as if they were repairs. New
property was added in the guise of renewing old. This he did for fear
the stockholders, if they knew the truth, would begin too soon to
clamor for dividends. He spent money only for essential things, that
is, in ways that were productive, and neglected everything else, until
we had at last the finest transportation machine in the country and the
shabbiest general offices. The consequences of this policy, when they
began to be realized, were incredible.
In the autumn of 1896 a strange event came suddenly to pass. People
were delivered from the Soft Money Plague, not by their own efforts,
as they believed, but because maladies of the mind are like those of
the body. If they are not fatal you are bound to get well. Doctors will
take the credit. The Republican party won the election that year on a
gold platform, and this is treated historically as a sacred political
victory for yellow money; the white money people were hopelessly
overturned. But it was wholly a psychic phenomenon still. Why all at
once did a majority of people vote in a certain way? To make a change
in the laws, you say. Yes, but there the mystery deepens. Immediately
after this vote was cast the shape of events began to change with no
change whatever in the laws. The law enthroning gold was not enacted
until four years later, in 1900, and this was a mere formality, a
certificate of cure after the fact. By that time the madness had
entirely passed, for natural reasons.
iv
After 1896 the flood tide began to swell and roar. Galt was astride of
it,--a colossus emerging from the mist.
The Great Midwestern was finished. He had rebuilt it from end to end.
And now for that campaign of expansion which was adumbrated on the map
I had studied in his room at home. For these operations he required
the active assistance of Mordecai, Gates and Potter. He persuaded them
privately and bent them to his views.
I began to notice that he went more frequently to the stock ticker.
His ear was attuned to it delicately. A sudden change in the rhythm of
its g-n-i-r-r-r-i-n-g would cause him to leave his desk instantly and
go to look at the tape. He was continually wanted on those telephones
with the unknown terminals. Speaking into them he would say, “Yes,” ...
or ... “No,” ... or ... “How many?” ... or ... “Ten more at once.”
One afternoon he turned from the ticker and did a grotesque pirouette
in the middle of the floor.
“Pig in the sack, Coxey. Pig in the sack. Not a squeal out of him.”
“What pig is that?” I asked.
He looked at me shrewdly and said no more.
Public-domain text, read in full here on John Shaqi.
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