Standard Oil Company; Trusts, Industrial -- United States
The people of Toledo did not surrender to this success of their enemies
in the money-market. The bonds which calumny and espionage prevented
them from selling at wholesale to the great capitalists of New York and
Boston they took themselves at retail. The Legislature having given
authority for such sales, a committee of one hundred had been appointed
by the citizens' meeting, October 19, 1889, to canvass all the wards of
the city for subscriptions to the gas bonds. "Gas Bond Pledges" were
circulated, to which people subscribed according to their ability, in
amounts ranging from $2 to $5000. The employés at the Wabash Railway's
car shops sent in a list signed by fifty names for a total of $1102, an
average of $22 each. The labor of two hundred men for a week without
pay was offered the gas trustees as an earnest of the good-will of the
people. Piece by piece the city's pipe line was pushed through. At a
critical moment a shrewd and patriotic contractor saved the enterprise
by building a large part of the line, and taking for his pay the bonds
the banks would not take. In June, 1890, the public were gratified by
the announcement that their trustees had secured the means "for the
construction of three miles more," making eight miles in all, or nearly
one-fourth the entire line. In August a contract was made for five
miles more, and so the work went on, step after step.
CHAPTER XXV
A SUNDAY IN JUNE
In the midst of the anxious discussion by the citizens of Toledo as
to the character of the power which ruled them both by night and by
day, the same question arose in the metropolitan religious press, but
in its broader ethical aspects. After the petition of Toledo to be
allowed to take the control of its light, heat, and power into its own
hands had been laid before the Legislature, the _National Baptist_
of Philadelphia, in an article on the trusts, criticised them as the
prophet Nathan would have done. It gave to that in oil, "of course,
the bad pre-eminence in all this matter." "This corporation has, by
ability, by boldness, by utter unscrupulousness, by the use of vast
capital, managed to control every producer, every carrier, to say
nothing of the legislatures and courts." The _Examiner_, the leading
religious weekly of the Baptist denomination in New York, rose against
this. "We can readily understand how there should be differences of
opinion in the matter of these trusts, and their influence is a proper
subject of discussion; but to make it the occasion of so unjust and
intemperate an attack on Christian men of the highest excellence of
character is something that was not expected from a paper bearing
such a name. The four most prominent men in the oil trust are eminent
Baptists, who honor their religious obligations, and contribute without
stint to the noblest Christian and philanthropic objects.... All
of them illustrate in their daily lives their reverence for living
Christianity."
Public-domain text, read in full here on John Shaqi.
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