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New York farmers and grain merchants were the big losers, but the chances of Congress requiring the roads to raise rates from the west were approximately zero.* What farmers did care about, on the other hand, was rate volatility, since the perennial price wars frequently caused a violent seesawing of tariffs. The Eastern Traffic Association, the
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
volunteer services.3
Adria L. Imada • Aloha America: Hula Circuits through the U.S. Empire
1912 the so-called Shenk Rule gave local business owners a powerful tool to keep African-Americans from patronizing their establishments—by charging astronomically higher prices to nonwhite customers. The pernicious new law was named after the L.A. city attorney who found that “it was neither extortion [n]or a violation of the Civil Rights Act to
... See moreGary Krist • The Mirage Factory
The task of reconciling banking reform with the party’s states’-rights traditions fell, improbably, to a southern congressman—the Virginian Carter Glass.
Roger Lowenstein • America's Bank
The Internet
Chaweon Koo • 11 cards
By the 1880s and 1890s, it supplied its own coke and iron ore, its own pig iron, and much of its own rail and lake shipping facilities, and it maintained its own sales force. How, therefore, to compute profits on steel? First, one had to tot up the costs for the coke, the ore, the shipping, and everything else. But in the absence of normal invoices
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