Sublime

white supremacy,

of

Address.

the U.S.

Gould did not think like most railroad men. Like Carnegie and Rockefeller, he regarded pools as refuges for the weak, although useful for masking predatory intentions. The solution for the fragmented state of the railroads was to consolidate, not to negotiate elaborate paper compacts. Roads that were willing to join his network would find him a

Bid rigging produced extraordinary margins: in the late 1890s the companies collected $345–420 per ton of armor (a compromise after the Russia–Bethlehem embarrassment) against production costs of perhaps $150. With that kind of money at stake, what patriot could pass up the chance to defraud his fellow citizens?

The practical methodologies evolved over many years, and were largely the work of John Hall, a gunsmith from Portland, Maine, and inventor of the “Hall carbine” that became notorious when muckrakers dug into the youthful Pierpont Morgan’s dealings with Civil War procurement authorities.