Standard Oil Company; Trusts, Industrial -- United States
Monopoly anywhere must be monopoly everywhere. At the beginning it was
enough to control the railways; by these the pipe lines, refineries,
and markets were got. These were secured, only to find that it was
vital to control the source of supply. The producers once gave an
illustration of what it would be for the sole buyer to come to the
market and find that the oil he must have was not on sale at his
price.[632] "We have during the past year," one of the combination
said, in 1891, before a committee of the Pennsylvania Legislature,
"invested a very large amount of money, and have induced our friends to
come forward with new capital to engage in the business of producing
oil."[633] By the policy of becoming producers the combination has
changed its position from that of mere intermediary--though one as
irresistible as a toll-gate keeper--to that of absolute owner. The
spectre it has seen rise before it, of the producers organized as one
seller to meet it as the only buyer, has been laid to rest.
"We are pushing into every part of the world, and have been doing
so," the president told the New York Legislature in 1888.[634] Their
tank-steamers go to all the ports of Europe and Asia, and their
tank-wagons are as familiarly seen in the cities of Great Britain and
the Continent as of America. An agitation of extensive proportions was
begun in 1893 in the press of Canada and in the Dominion Parliament
to admit American oil at a lower duty. There was no popular demand
for such a step. No general reduction of the tariff was proposed. The
movement was simultaneous in the press of different parts of Canada,
and it was promoted by papers as important as the Toronto _Globe_
and Montreal _Star_. It was resisted with desperation by the 20,000
persons who are employed in the Canadian oil industries, the growth of
thirty-two years--"not a rich, gay, bloated population, rioting with
the plunderings of the farmers, revelling in all kinds of luxuries,
making merry with their friends," says a newspaper correspondent, who
visited them in December, 1892, "but a hard-working community, in which
all live comfortably; few are rich."
This opposition was successful with the Dominion Parliament in that
year, and it refused to admit American oil at a lower tax. But the
finance minister then, by executive action, did in part what the
Legislature had refused to do. By lowering the inspection duty and
changing custom-house conditions he made a considerable reduction in
the tax. The agitation to reduce the tariff was not relaxed, and was
finally successful in 1894, when Parliament lowered the duties on oil,
and to that extent surrendered the Canada producers and refiners to
their American competitors.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account