History of America’s One Percent – Episode #28

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.

In this episode – Continued reading of History of Great American Fortunes by Gustavus Myers.  Includes Part III, Chapter VI:  The Entailing of the Vanderbilt Fortune, continued.  Bankrupting the West Shore Railroad.  William Vanderbilt Intrudes on the Pennsylvania Railroad’s Territory.  He Builds the Competing South Pennsylvania Railroad Line.  Looting Before the Railway is Completed: $30 Million in Securities Fraud Through His Railroad Construction Company.  Vanderbilt’s Secret “Gentleman’s Agreement” with the Reading Railroad.  Pennsylvania Railroad Proves too Powerful.  J.P. Morgan Steps in to Dump the South Pennsylvania Line, Screwing the Reading Railroad.  His Accomplices: Morgan, Rockefeller, Mills, Elkins, and Whitney.  William Builds an Opulent Mansion.  Vanderbilt as a Great Patron of the Arts.  “THE PUBLIC BE DAMNED.”  He Gathers in $100 Million In Just Seven Years.  William Passes Away in 1885.  Massive Scope of His Tax Evasion Revealed.

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PART III, CHAPTER VI – FOOTNOTES, cont’d. Continue reading