Thursday, November 6, 2014

THE ROBBER BARONS by Mathew Josephson

THE GREAT AMERICAN CAPITALISTS 1861-1901. Published in 1934.
Skimmed and read over a couple of days- Th 11/6/14

Wikipedia THE GILDED AGE-
http://en.wikipedia.org/wiki/Gilded_Age

Not exactly a muckraking take on America's nineteenth century industrialists, but the facts don't lie. None of these men seemed to care a bit about the public welfare or the US citizens, but their only concern was for maximum corporate profit and their own self-aggrandizement.

I was surprised to learn how much the state and federal governments played in the development of these huge corporations. Especially the growth of railroads where land grants and bond issues very much funded these ventures, but 'the barons' made sure that the profits only accrued to themselves.

They had absolutely nothing positive to say about unions or even the right of working men to stand up for their rights. The only rights that they recognized were those of the owners. Workers were only servants to them. Near the beginning of the 20th century some of the industries tried to embrace 'company unions', but these were just discussion groups that had no influence or power.

Many industries owned the workers homes and where they spent their money. The workers were paid the absolute least in wages, and then charged exorbitant rates at 'the company stores'.

The tenets of Calvinism and the the Puritans very much drove the selfishness of the era and this view seems a real distortion of the Christian message.

Although they donated millions through various charity organizations, it never effected 'the bottom line'.

Most of the leaders were closed mouth and taciturn, and their biographies cannot be trusted. Many took the secrets of their nefarious endeavors to the grave.

pecuniary- Of or relating to money

The Robber Baron entry in wikipedia that contains a comprehensive list of the key players-
https://en.wikipedia.org/wiki/Robber_baron_(industrialist)

The author's entry on wikipedia-
https://en.wikipedia.org/wiki/Matthew_Josephson

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