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In the trial of Samuel Chase, the principle had been proven. The Senate had been created to be independent, to stand against the tyranny of presidential power and the tides of public opinion. It had stood.
Robert A. Caro • Master of the Senate: The Years of Lyndon Johnson III
With a huge war chest and no public security holders, Rockefeller could fight a no-quarter war for as long as Scott and Potts chose to bleed. Characteristically, he kept the war very focused. As A. J. Cassatt, a later Pennsylvania president, told a House committee, “They simply insisted that they could not make any arrangement with us for the
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
“The use of the Senate,” Madison said, “is to consist in its proceeding with more coolness, with more system, and with more wisdom, than the popular branch.” It should, he said, be “an anchor against popular fluctuations.”
Robert A. Caro • Master of the Senate: The Years of Lyndon Johnson III
When Clark died after a short illness in the spring of 1873, his brokers liquidated his UP holdings, causing a sharp price drop. Gould’s broker snapped it up, and Gould unexpectedly found himself in a control position. It was only at that point, he said, that he learned that the road had serious problems, including $5 million in unsecured call debt
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
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