The New NationPaxson, Frederic L. (Frederic Logan)
History
The New Nation
Paxson, Frederic L. (Frederic Logan)
United States -- History -- 1865-1921
A new journalism aided and was aided by the zeal to expose and the greed
of the public for literature of exposure. In the later nineties city
journalism was reorganized under the influence of the "yellow" papers,
and sensational news was made a profitable commodity as never before.
The range of the daily paper was, however, limited by a few hundred
miles, and its influence could not become national. A new periodical
literature, resembling the old literary monthlies, but using many timely
and journalistic articles, sprang into life and gained national
circulation and influence. S.S. McClure was one of its pioneers.
_Everybody's_, the _Cosmopolitan_, _Munsey's_, the _American_, and
weeklies like _Collier's_, the _Outlook_, and the _Independent_ were
among the journals that helped to spread the conclusions and advocate
reforms. Besides these a horde of imitators fattened for a time upon
exposure.
Journalism had a large part in directing the American revival, and
private investigators furnished many of the facts. Public suits marked
an attempt to act upon the facts and remedy them. In Missouri Joseph W.
Folk conducted a series of prosecutions against grafters in St. Louis
that elevated him in a few months to the head of his party and the
governorship of his State. The Bureau of Corporations, attached to the
new Department of Commerce and Labor in 1903, made a series of reports
the most notable of which showed that the charges against the Standard
Oil Company for extorting rebates, and against the meat-packers for
unsanitary conditions, were founded upon fact.
The most notable public exposure of indiscretion and wrongdoing in high
finance occurred in New York. Here, during 1905, a quarrel over the
management of the Equitable Life Insurance Company led to a legislative
investigation by a so-called Armstrong Committee. One of the attorneys
employed by the committee, Charles E. Hughes, soon became the spirit of
the examination. One by one he called insurance officers to the witness
stand, and drew from their reluctant lips the story of their relation to
banking, to speculative finance, and to politics. He revealed the
existence of a group among the bankers not unlike a money trust. He
proved that for at least three national campaigns the insurance
companies, like other corporations, had given heavy subsidies to the
campaign funds, sometimes of both but always of the Republican party.
Public-domain text, read in full here on John Shaqi.
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