The History of the Standard Oil Company — John Shaqi
The History of the Standard Oil CompanyTarbell, Ida M. (Ida Minerva)
History
The History of the Standard Oil Company
Tarbell, Ida M. (Ida Minerva)
Petroleum industry and trade -- United States -- History; Standard Oil Company -- History
Another important consideration with the editors in deciding that the
Standard Oil Trust was the best adapted to illustrate their meaning, was
the fact that it is one of the very few business organisations of the
country whose growth could be traced in trustworthy documents. There is
in existence just such documentary material for a history of the
Standard Oil Company as there is for a history of the Civil War or the
French Revolution, or any other national episode which has divided men’s
minds. This has come about largely from the fact that almost constantly
since its organisation in 1870 the Standard Oil Company has been under
investigation by the Congress of the United States and by the
Legislatures of various states in which it has operated, on the
suspicion that it was receiving rebates from the railroads and was
practising methods in restraint of free trade. In 1872 and again in 1876
it was before Congressional committees, in 1879 it was before examiners
of the Commonwealth of Pennsylvania and before committees appointed by
the Legislatures of New York and of Ohio for investigating railroads.
Its operations figured constantly in the debate which led up to the
creation of the Interstate Commerce Commission in 1887, and again and
again since that time the Commission has been called upon to examine
directly or indirectly into its relation with the railroads.
In 1888, in the Investigation of Trusts conducted by Congress and by the
state of New York, the Standard Oil Company was the chief subject for
examination. In the state of Ohio, between 1882 and 1892, a constant
warfare was waged against the Standard in the courts and Legislature,
resulting in several volumes of testimony. The Legislatures of many
other states concerned themselves with it. This hostile legislation
compelled the trust to separate into its component parts in 1892, but
investigation did not cease; indeed, in the last great industrial
inquiry, conducted by the Commission appointed by President McKinley,
the Standard Oil Company was constantly under discussion, and hundreds
of pages of testimony on it appear in the nineteen volumes of reports
which the Commission has submitted.
Public-domain text, read in full here on John Shaqi.
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