United States Steel: A Corporation with a SoulCotter, Arundel
History
United States Steel: A Corporation with a Soul
Cotter, Arundel
United States Steel Corporation
This does not mean that all the attacks on the big Corporation have
been the work of demagogues. Some have been originated by men entirely
sincere in their conviction that so great an enterprise was inherently
dangerous to the well being of the country at large. But it was
generally overlooked that the power to do harm implies an equal power
to work good, and the question resolves itself in the final analysis
to an individual one. What were the powers of the Steel Corporation
and how were they used? The investigations, ending in the suit for the
dissolution of the “Steel Trust” and its absolution by the Supreme
Court, have brought to the light of day all the actions of the big
company, have submitted them to the glare of pitiless publicity, and
the vast industry has been judged not alone in the courts but at the
bar of public opinion. What have been these investigations, why were
they instituted and in what have they resulted?
On June 18, 1898, an investigation into the question of trusts and
their relation to labor and, in fact, their effect on the country
generally, was decided on by resolution of Congress. A committee, known
as the Industrial Commission, was appointed to make the investigation.
This commission was composed of five members of the Senate, five
members of the House of Representatives, and nine others, assisted by
a large corps of experts in economics. The committee did not finish
its work until the later part of 1901, its report being presented on
December 5th of that year. So that the Corporation began its existence
during the life of the commission and came in for a certain amount of
study on its part. As the report, generally speaking, was an academic
one and as it dealt very little with the Corporation, it may be passed
over here.
The first investigation bearing directly upon the methods or practices
of the Steel Corporation was begun during the administration of
President Roosevelt. James R. Garfield, appointed Commissioner
of Corporations in the Department of Commerce and Labor when the
department was instituted early in 1903, was instructed by the
President to investigate various large corporations and in the course
of this work he directed his attention to the steel trade. About 1905
Mr. Garfield began an investigation of the Corporation and the work was
carried on until some years after he had resigned his post and become
a member of the Roosevelt cabinet.
The report of the Commissioner of Corporations on the steel industry
was made by Herbert Knox Smith, who held the post under President Taft.
Public-domain text, read in full here on John Shaqi.
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