History of America’s One Percent – Episode #14

hogaf-logo-wip2In this podcast series we dive into the long and shadowy history of America’s ruling elite through the works of authors who were either silenced, suppressed, or forgotten, to discover the origins of the 1% and from where their power and wealth was, and still is, extracted.

Each recording will be approx. 1 hour in length to allow for easy consumption of the material.  The narrator will only interrupt the reading to provide insight, spell names, read informative footnotes, or provide definitions for archaic words.


NOTE: We have switched to the 1936 edition of the book.

In this episode – Continued reading of History of Great American Fortunes by Gustavus Myers.  Includes Part II, Chapter IX:  The Field Fortune In Extenso.  Land For Practically Nothing.  Land Values Steadily Increase.  Fortunes Made During Panic Years.  Field’s Vast Real Estate Holdings.  He Makes $500 – $700 An Hour.  How He Paid His Workers.  Low Wages and Prostitution.  Cutting Out the Middle Man.  His Factories Spread Across the Globe.  His Bond and Stock Holdings.  The Director of Trusts.

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Click Here for a complete list of episodes in this podcast.
You can also stream the episodes from Archive.org
For more information on the author of this book Click Here.

PART II, CHAPTER IX – FOOTNOTES

[1] Census of 1900.

[2] Eighth Annual Report, Illinois Labor Bureau : 370.

[3] For Instance, the report of the U.S. Industrial Commission of 1900. After giving the low wages paid to women in the different cities, it said: “It is manifest from the figures given that the amount of earnings in many cases is less than the actual cost of the necessities of life. The existence of such a state of affairs must inevitably lead in many cases to the adoption of a life of immorality and, in fact, there is no doubt that the low rate of wages paid to women is one of the most frequent causes of prostitution. The fact that the great mass of working women maintain their virtue in spite of low wages and dangerous environment is highly creditable to them.”— Final Report of the Industrial Commission, 1902, xix : 927.

[4] The acts here summarized are narrated in Part III, “Great Fortunes from Railroads.”

[5] Report of the U.S. Bureau of Corporations on The International Harvester Company, 1913: xiii, 23 et seq.

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