Party Government in the United States of America

By William Milligan Sloane | Go to book overview

XXXII
SOCIAL CHANGE AND PARTIES

1909-1913

The social upheaval--State paternalism--Attitude of the new Executive--The Payne-Aldrich tariff--Legislation of the Sixty-first Congress--Legislation of the Sixty-second Congress--The state of Spanish America--The Panama Canal Act--The change in domestic politics--The presidential campaign--A minority victory --The Taft administration.

MANY among the latest generation of voters have for some years entertained ideas antipodal to those of their predecessors. This younger stratum of citizens has been taught that the exercise of the suffrage is an inherent and not a granted right; that values produced by the community belong to it, and must be returned to it by a changed form and degree of taxation; that promoters had overcapitalized corporations and pocketed enormous profits; that directors were more concerned to enrich themselves and pay large dividends to shareholders than with the honest management of their corporations; that stock-jobbing was manipulated in the interests of a "money trust"; that large combinations (or trusts) evaded the provisions of the Sherman Act, enacted to prevent restraint of trade; that capital had substituted co-operation for competition, to the serious detriment of laboring-men and small producers, especially the farmers. Whatever of truth there was

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