Book Alert / Age of Betrayal
Age of Betrayal -- The Triumph of Money in America, 1865-1900 by Jack Beatty. Knopf '07, $30, 483 pages, ISBN #1-4000-4028-0. Index, source notes, no bibliography, b&w images sprinkled through text.
Jack Beatty has written a tendentious screed in the tradition of Matthew Josephson, Lincoln Steffens and Ida Tarbell, that seems somewhat quaint, since the Robber Baron stories have all been told and retold. Then, as a start to scratch my head wondering why another retelling is necessary, I realize that Beatty intends his book to be a parable for the modern age -- that the widening gap between rich and poor in America is more akin to the late 19th century than any time since.
Beatty doesn't merely tar big business but government as well. He quotes Congressional scholars Norman Ornstein and Thomas Mann saying that the House of Representatives's responsiveness to business lobbyists "more closely resembles the House of the 19th century than that of the 20th, of the Gilded Age more than the Cold War era."
The era Beatty describes in his book came about because of the advent of big business, first embodied by America's railroads. At one point, the net revenues of the rail industry was many times the size of the federal government's budget, raising the fear that business might simply swallow up government. That, in the end, this didn't happen is a tribute to the Founders' foresight in creating checks and balances and in empowering citizens to petition for redress of grievances.
The Robber Baron era, carried through the period of reaction to its excesses, is a hopeful story but one that Beatty largely doesn't tell. Take the railroads, for instance. In reaction to their watering stock and charging customers "what the traffic will bear," the U.S. Grange for the Patrons of Husbandry created 2,000 chapters throughout the midwest and west and, ultimately, secured creation of not only state railroad commissions but the Interstate Commerce Commission.
The ICC, at first, was a toothless tiger but was a correct response to the regulatory impulse suggested by the U.S. Constitution. Within 20 years, Congress built the backbone to create the Hepburn Act in 1906, which not only told railroads what they could haul and where they could go but -- heaven forfend! -- what they could charge. The ICC was designed as a stand-in for a capitalistic competitor, competition being the best antidote to monopolistic excesses. By the mid-20s, the auto industry had assumed that role, and the ICC should have then stopped regulating the railroads. Unfortunately, rail regulation continued until the Staggers Act of 1982, which brought about deregulation.
So for those who'd like to get their juices up revisiting Daddy Warbucks and company, have at it. But younger readers especially need to know that, just as with the Robber Baron era, American government has at its disposal, if it has the will to use them, tools to redress the current imbalances just as they did a century ago.