The Steel Trust’s Vast Control
Through investigations now being conducted by Interstate Commerce Commissioner Macklay it is developed that the big steel trust of America has within its grip one fourth of the actual coin of the country. It takes only twenty-four men, with the firm of J. P. Morgan & Co. at the head, to hold this immense control of the circulating medium of the nation. It is estimated that the annual income of this big steel aggregation has reached the fabulously enormous sum of four billion a year. It was thought to be something to talk and warn about when a few decades ago individuals and corporations had reached the point where their annual incomes were measured by single millions. But we have passed on into the days when incomes are measured by four thousand million in a single year. The condition is weighed down with significance.