The Course of American Democratic Thought

By Ralph Henry Gabriel; Robert H. Walker | Go to book overview

Chapter 19
ECONOMIC THEORY AND THE POSITIVE STATE

AFTER THE SECOND INAUGURATION of McKinley in 1901, events gave a cumulative demonstration of the soundness of the observations of economist Arthur T. Hadley that monopoly and the concentration of economic power in the hands of the few were an inevitable development of the capitalist system. A series of episodes dramatized for the mass of Americans the existence of uncontrolled and politically irresponsible economic overlords. The first was the creation in 1901 of the vast United States Steel Corporation. Then followed, at irregular intervals, the Northern Securities case, and the legal assaults upon the Standard Oil and the Tobacco "trusts," all instituted by President Roosevelt. The Mann- Elkins Act and the Hepburn Act led to Congressional battles to establish curbs on the common carriers. Finally in 1913 the Pujo committee of the House of Representatives undertook an investigation of American business conditions. Its report affirmed the existence of a "money trust" and declared that there existed "a well- defined identity and community of interest between a few leaders of finance . . . held together through stock holdings, interlocking directorates, and other forms of domination over banks, trust companies, railroads, public service, and industrial corporations, and which has resulted in a vast and growing concentration of control of money and credit in the hands of comparatively few men."

The effect upon the public of these events was enhanced by the crusade of the muckrakers, earnest journalists and humanitarians who with sordid realism exposed to view not only the relations between business and politics, but those between big business, little business, and the consumer. The muckrakers told a sorry tale of meat prepared with scant regard for the public health, of the duping

-242-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The Course of American Democratic Thought
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 572

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.