[Synopsis of *Frenzied Finance* by Thomas 
W. Lawson. New York: Ridgway-Thayer, 1905]

           -+- "The System": Finance & Management -+-

Amalgamated Copper was begotten in 1898, born in 1899, and in the
first five years of  its  existence  plundered  the public to the
extent of over $100 million.

It was a creature of that  incubator  of  trust  and  corporation
frauds, the State of New Jersey.

Its entire stock was sold to the public at an average of $115 per
share, and in 1903 the price had declined to $33 per share.

>From  its  inception  it  was known as a "Standard Oil" creature,
because its birthplace was  the  National  City  Bank of New York
(the "Standard Oil" bank), and its parents the leading  "Standard
Oil"  lights,  Henry  H.  Rogers,  William Rockefeller, and James

"Standard  Oil"  has  from  its  birth  to  present  writing been
responsible for more hell than any other trust or financial thing
since the world began.  Because of it the people  have  sustained
incalculable losses and have suffered untold miseries.

At  the  lower  end  of the greatest thoroughfare in the greatest
city of the New World  is  a  huge structure of plain gray-stone.
The building is No. 26 Broadway.

26 Broadway, New York City, is the home of the Standard Oil. Wall
Street and the financial world know that there are two  "Standard
Oils,"  but  to  the public there is no clear distinction between
Standard Oil, the corporation which deals in oil and things which
pertain  to  the  manufacture  and  transportation  of  oil,  and
"Standard Oil," the giant, indefinite system.

Standard Oil, the  seller  of  oil  to  the people, transacts its
business as does any other corporation.  It plays no part  in  my
story  and  I  shall  not  hereafter  touch upon its affairs, but
confine my meaning, wherever  I  use  the name "Standard Oil," to
the larger and many times more important "System."

The three main men of "Standard Oil" are Henry H. Rogers, William
Rockefeller, and John D. Rockefeller.

There are eight distinct groups of individuals  and  corporations
which go to make up the big "Standard Oil":

  (1) The Standard Oil, seller of oil to the people, which is
  made up of many sub-corporations either by actual ownership
  or by ownership of their stock or bonds;

  (2)  Henry  H.  Rogers,  William  Rockefeller,  and John D.
  Rockefeller, active  heads,  and  included  with them their

  (3) A large group of active captains and first lieutenants,
  men who conduct the affairs of the  different  corporations
  or  sections  of  corporations  in which some or all of the
  "Standard Oil" are interested;

  (4) A large group  of  captains retired from active service
  in the Standard Oil army;

  (5) The estates  of  deceased  members  of  this  wonderful
  "Standard  Oil"  family, which are still largely controlled
  by some or all of the prominent "Standard Oil" men;

  (6) "Standard Oil" banks  and banking institutions, and the
  system of national banks, trust  companies,  and  insurance
  companies,  of  which  "Standard Oil" has, by ownership and
  otherwise, practically absolute control;

  (7) The "Standard Oil"  army of followers, capitalists, and
  workers in all parts of the world;

  (8)  The  countless  hordes  of   politicians,   statesmen,
  lawmakers  and  enforcers -- our political structure -- and
  judges and lawyers.

"Standard Oil's" governing rules are as  rigid as the laws of the
Medes and Persians, yet so simple as to be easily  understood  by
any one:

  (1) Keep your mouth closed, as silence is gold, and gold is
  what we exist for;

  (2)  Collect our debts today.  Pay the other fellow's debts

  (3) Keep the seller waiting;  the longer he waits, the less
  he'll take.  Hurry  the  buyer,  as  his  money  brings  us

  (4)  Make  all profitable bargains in the name of "Standard
  Oil," chancey ones in the names of dummy corporations;

  (5) Never forget our Legal  Department is paid by the year,
  and our land is full of courts and judges;

  (6) As competition is the life of trade  (our  trade),  and
  monopoly  the  death  of  trade  (our  competitor's trade),
  employ both judiciously;

  (7)  Never  enter  into   a   "butting"  contest  with  the
  Government.  Our Government is by the people  and  for  the
  people, and we are the people, and those people who are not
  us can be hired by us;

  (8)  Always  do  "right."   Right  makes might, might makes
  dollars, dollars make right, and we have the dollars.

The success of "Standard Oil" is  largely due to two things -- to
the loyalty of its members to each other and to  "Standard  Oil,"
and  to  the  punishment  of  its  enemies.   Each  member before
initiation knows  its  religion  to  be  reward  for  friends and
extirmination for foes.  The "Standard  Oil"  man  is  constantly
reminded   in  a  thousand  and  one  ways  that  punishment  for
disloyalty is sure and  terrible,  and  that  in no corner of the
earth can he escape it, nor can any power on  earth  protect  him
from it.

"Standard  Oil" is never loud in its rewards nor its punishments.
It does not care  for  the  public's praise [except through phony
P.R.] nor for its condemnation, but endeavors to  avoid  both  by
keeping its "business" to itself.

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