The Hour of Fate

Více o knize

In the summer of 1901, J.P. Morgan was poised to solidify his power in the railroad industry with the Northern Securities deal. However, the assassination of President William McKinley ushered in Theodore Roosevelt, who believed that unchecked big business threatened the nation's stability. By March 1902, the government initiated an antitrust lawsuit against Northern Securities, setting the stage for a fierce confrontation. Complicating matters, a strike by coal miners halted production in the anthracite pits, crucial for powering Morgan's trains and heating homes across the nation. With a looming winter and millions at stake, both men faced a crisis that neither could resolve alone. This richly detailed narrative captures the intense interplay between a powerful banker and a reform-minded president during a pivotal moment in American history. The outcomes of the strike and the legal battle would have lasting implications, echoing in today's discussions about the balance between democracy and capital. The lessons from this era resonate strongly in contemporary debates about the role of government in regulating powerful industries.