United States Steel: A Corporation with a SoulCotter, Arundel
History
United States Steel: A Corporation with a Soul
Cotter, Arundel
United States Steel Corporation
In its answer to the Government’s charges, the Corporation claimed
that, far from restraining competition, it had fostered it, and the
majority of its competitors themselves swore to the truth of this
defense. The United States District Court, before which the suit was
first tried, pointed, in summing up, to facts and figures of the
growth of competitors which fully and completely substantiated the
Corporation’s claims. These figures showed that the Corporation’s
business from 1901 to 1911, in which year the suit was brought, had
increased over 40 per cent., but that in the same time the Bethlehem
Steel Co. had shown a gain of 3,780 per cent. in business, the La Belle
Iron Works of 463 per cent., Jones & Laughlin Steel Co. of 206 per
cent., the Cambria Steel Co. of 155 per cent., the Colorado Fuel & Iron
Co. of 153 per cent., the Republic Iron & Steel Co. of 91 per cent.,
and the Lackawanna Steel Co. of 63 per cent., to say nothing of the
rise and expansion of entirely new companies, such as the Youngstown
Sheet & Tube Co., during the same period.
For many years, ever since the period of consolidation in manufacturing
and other industries began, big business had been viewed with suspicion
and something of hatred by the mass of the people--and by no means
without cause, in many instances. There was no question that the powers
that controlled more than one great industry used their resources
to crush competition and, too often, their money and influence for
political ends. No argument is necessary to convince the unprejudiced
mind that such acts were inimical to the good of the nation. It was
perhaps natural that the stigma that attached to some as a result of
this was used by demagogues and others, often sincerely enough, against
big business in general as an aid to themselves politically. In short,
“Smash the trusts” was for years the great vote-getting slogan, and
unfortunately, is so still to some extent.
Small wonder then that the Steel Corporation, the largest and most
powerful of all the so-called “trusts,” was a shining mark for these
attacks. Small wonder that the man in the street, looking to his
leaders for guidance in such matters, was easily persuaded that the
giant company was necessarily a menace to the body politic.
Apparently this it was that Judge Gary foresaw when he insisted that
the organization at whose helm he stood must so conduct itself in all
its dealings with competitors and the public that it could at any
time show clean hands; could prove that its power had been used not
destructively but constructively for the good of all affected by its
actions--and this means the entire population of the United States.
He has said publicly either in a public address or when testifying
that these policies were justified on two grounds either of which
is sufficient, namely: first, because they are right, and secondly,
because they will pay in the end.
Public-domain text, read in full here on John Shaqi.
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