Note Card 1-25

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Note Card 1-25
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  1. Source Card   by Jeremy
    Weinberg, Steve. Taking on the Trust. New York: W.W.Norton&Company.2009. 332.6 Wei WEI Redwood Christian School Library.
  2. Note Card 1
    Note Card 1: pg.3" Ida Minerva Tarbell grew up as a child of the oil elds. Born to an oilpioneer, she reached maturity a short trip from the rst American oil well,in Titusville, Pennsylvania. " For her corporation, certainly nobody hadbeen so profoundly aected by Rockefeller's business practice when theyare young. Her father is Franklin Summer Tarbell, her mother is Esther.
  3. Note Card 2
    Note Card 2: pg. 21"Born in 1839 on a farm of about fty acres in rural Richford, New York,Rockefeller came from circumstances similar to those of Franklin andEsther Tarbell." Rockefeller not born in a stable family.
  4. Note Card 3
    Note Card 3: pg.38"Rockefeller had barely reached the age of majority in 1861, when the warbegan. He felt secure in his business venture. Fiscal year 1860 yielded aprot of $17000, quadruple that of the previous year. Gardner, ill-suitedaccording to Rockefeller's values, had left the partnership. He went on tond his own way, serving as Cleveland's board of trade resident in 1868and as the city's mayor from 1885 to 1887, with a second term from 1889to 1891."
  5. Note Card 4
    Note Card 4: pg.43-45"On February 1, 1865, the ve men gathered at the Rockefeller familyhome on Cheshire Street. According to Rockefeller, the Clark brothersassumed that Andrews, a fellow Englishman, would side with them asthey consolidated their authority." "John D. dispatched him to New YorkCity to open the rm Rockefeller and Company. International marketsinuenced the oil renery business. If the Rockefeller could not guaranteestrong customer demand in Europe-especially Germany and France-theirrenery might stop thriving."
  6. Note Card 5
    Note Card 5: pg.79"The independents won the attention of Pennsylvania state legislators inHarrisburg and of U.S. congressmen, and a committee held a hearing atthe capitol in Washington, D.C. During the session, evidence of StandardOil's practices surfaced; the testimony featured terms like "restraint oftrade," "antitrust," "unfair competition," and even"monopoly." But thecongressional committee took no action to halt Rockefeller."
  7. Note Card 6
    Note Card 6: pg.81"At age eight, Ida Tarbell found the oil elds of northwestern Pennsylvania fascinating and dangerous. Her life and career were shaped by herexperiences growing up in the oil region. In 1870 Ida's family make theirnal move, to a residence they built on the Main Street of Titusville withmaterials salvaged from a fancy hotel in one of the failed oil boomtowns."
  8. Note Card 7
    Note Card 7: pg.83"After a brief stint as a teacher in Poland, Ohio, Tarbell by chance beganworking at a magazine called The Chautauquan. She had neverconsidered journalism as a career, and women almost never receivedmeaningful assignments from newspapers or magazines during the1880s. Against those odds, she began to make a name for herself as ajournalist. "
  9. Note Card 8
    Note Card 8: pg.103"Rockefeller expected detailed reports. In return he oered economicalreplies, devoid of as many names and other specics as possible. Heknew from the reports he received that sometimes those he hired usedunsavory and maybe illegal tactics against Standard Oil's competitors.His language would never allow anybody to link him directly to suchtactics. He delegated wisely, and that gave him the ability to denyinvolvement when attorneys general, prosecutors, and legislators beganinvestigating who did what to whom as the standard Oil trust extended itsreach."
  10. Note Card 9
    Note Card 9: pg.115"Darwin's controversial theory of evolution. Darwinian theory had begunto take hold as the conventional wisdom in the educated strata ofAmerican society Considered blasphemy by many Christians, it madesense to Tarbell. Rockefeller ignored the spiritual crisis of the Gilded Ageby repeating and taking refuge in his religious doctrine. "
  11. Note Card 10
    Note Card 10: pg.140"Standard Oil had come to epitomize the ways that unregulatedcommerce within an industry could lead to unfairness for competitors.Domination akin to standard Oil's also existed in the sugar, beef, andwhiskey industries, among others, but Rockefeller's company seemed todominate the discussion about the large trusts. Potential competitorsoften failed to establish operations in underserved territories for fear thatRockefeller would outmaneuver and eventually bankrupt or control them."
  12. Note Card 11
    Note Card 11: pg.141"Congress's creation of the federal interstate commerce commissionduring the 1880s gave independents brief hope that standard oil's predatory tactics might be reined in and even punished by regulators.Congress, however, did not provide the ICC with powers adequate to haltobjectionable anticompetitive practices by the trusts, the railroads, or anyother powerful business institution."
  13. Note Card 12
    Note Card 12: pg.142"Knowing that he had little to fear from government regulators,Rockefeller encourage a Standard Oil Company practice that paidemployees of independent businesses to report proprietary informationfor the trust's benet."
  14. Note Card 13
    Note Card 13: pg.201"Carnegie publicly and loudly denied the existence of an iron and steeltrust, while Rockefeller, who always took a circumspect view of the press,tried to remain in the background. On the dramatic Election Day,Cleveland won the popular vote, but the Republicans prevailed asHarrison won the electoral vote and thus entered the White House."
  15. Note Card 14
    Note Card 14: pg.201"The republican victory in a campaign where antitrust sentiment hadbecome an issue focused McClure's mind. By 1890 he began to assignarticles and oer material from his syndicate about the trusts."
  16. Note Card 15
    Note Card 15: pg.201"The Sherman Antitrust Act had been approved by Congress and signedinto law, unenthusiastically, by President Harrison, raising consciousnessabout how far government could and should go in regulating monopolisticpractices."
  17. Note Card 16
    Note Card 16: pg.201"The passage of the Sherman Antitrust Act meant little in practice duringthe 1890s. Congress allocated only small sums to the Justice Departmentfor enforcement. When Grover Cleveland regained the White House in1892, he did not place enforcement of the Sherman Antitrust Act high onhis agenda."
  18. Note Card 17
    Note Card 17: pg.202"Rockefeller and his colleagues began shifting toward a legal modelcalled a holding company, raising new diculties for federal prosecutors,given the Sherman Act phrasing. Then, with the election of RepublicanMckinley to the White House in 1896s, it seemed that the Sherman Actwould becomes no more than a footnote as the new century arrived,given the new president's anathema toward trust-busting."
  19. Note Card 18
    Note Card 18: pg.203"U.S. Senator Joseph B. Foraker, whom Tarbell later revealed as being onthe Standard Oil payroll, expressed his displeasure to Monnett that theattorney general had challenged Rockefeller."
  20. Note Card 19
    Note Card 19: pg.211"As public outrage against Standard Oil grew, the trust began to disguisesome of its business dealings through captive companies. One of thosecompanies placed its headquarters in Missouri. During the rst decade ofthe twentieth century, Missouri ocials unmasked the arrangement."
  21. Note Card 20
    Note Card 20: pg.212"Ida Tarbell's expose hurt Standard Oil's reputation, but the trustcontinued to dominate the oil industry and enrich its executives as well asits shareholders. On February 3,1909, Luther Daniels Bradley'scommentary in the Chicago Daily News suggested that Standard Oil wascontinuing to expand by quietly subsuming related businesses."
  22. Note Card 21
    Note Card 21: pg.209"In 1901, the average income for the American working man was $10 perweek, lower for women. Rockefeller was receiving about $3 million fromStandard Oil each year in stock dividends alone." Rockefeller'sinvestment included railroad companies, real estate rms, agriculture,steel factories, steamship lines, banks and nancial houses.
  23. Note Card 22
    Note Card 22: pg.211"Roosevelt did not uniformly revile the trusts; he distinguished betweengood trusts that kept the public interest in mind and those that gougedthe citizenry. He tended to point to Standard Oil as the epitome of theabusive trust, and to Rockefeller as its personication."
  24. Note Card 23
    Note Card 23: pg.250"The Roosevelt administration served notice to Standard Oil that it hopedto dismantle the corporation. On November 15, 1906, U.S. AttorneyGeneral Charles Bonaparte, a Roosevelt appointee, led an antitrustaction against Standard Oil in a St. Louis federal court. He chose thatjurisdiction because the judges there had issued antitrust rulings to thegovernment's liking."
  25. Note Card 24
    Note Card 24: pg.254"Standard Oil carved out signicant territories in California, drilling,marketing, and distributing oil and its byproducts along the West Coast aswell as shipping commodities across the Pacic Ocean to Asianconsumers. As Standard Oil continued operating as a trust, as its criticscontinued pointing out the dangers of such big businesses, everybody kept watch on the justices of the Supreme Court."
  26. Note Card 25
    Note Card 25: pg.257"Neither Rockefeller nor other Standard Oil executives sueredmeaningful punishment for their decades of evasion. The Supreme Courtdecision actually multiplied Rockefeller's wealth."

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