It is an exposé about the Standard Oil Company, run at the time by oil tycoon John D. Rockefeller, the richest figure in American history. Shipping and railroad tycoon, (1794-1877) was a self-made multi-millionaire who became one of the wealthiest Americans of. The inspiration behind The History of Standard Oil Company was largely fueled by Ida Tarbell's childhood experiences. Standard Oil Company of New Jersey was an oil company and holding company during the late 19th and early 20th centuries. ("It [the oil trust] is the most successful of all the attempts to put gifts of nature, entire industries, and world markets under one hat."). TARBELL, supra note 13, at 71 (describing the difference between Standard and a As such, The History of Standard Oil Company harbors great significance as a standard-bearer of modern investigative journalism. She began by interviewing Henry H. Rogers, one of her father's fellow independents who became one of Rockefeller's colleagues, as well as others close to the inner workings of Standard Oil, that included one of the founders Frank Barstow as well. Notice that its arms are wrapped around not just the United States Congress and a state house but also the cooper, steel and shipping industries. However, the octopus in the Standard Oil cartoon is clearly labeled with the name of the company, and its tentacles are wrapped around the seats of power in Washington and do not have global reach. A 1904 editorial review from The New York Times relayed the highlights of the volumes to the public, noting the diplomatic tendencies of Tarbell within her work - still widely respectful of the achievements of John D. Rockefeller but critical of Standard Oil's business strategies that were unfair and of questionable legality. [6], Though Standard Oil Company accrued more cumulative value after it was broken up, the exposure of what Tarbell described as immoral and illegal business became a striking symbol of the power of the press. An abridged paperback edition was released later. This preview shows page 2 - 4 out of 6 pages.   Privacy After this initial success, her shift turned to John D. Rockefeller. Eddie Vale, the cartoonist, later insisted that the sign was meant to evoke a famous anti-monopoly Standard Oil cartoon. The subsequent decision splintered the company into 34 "baby Standards." In 1911, after dissolution of the Standard Oil empire, eight companies retained “Standard Oil” in their names, but by the late 20th century the name had almost passed into history. He built up the company through 1868 to become the largest oil refinery firm in the world. The original book was a two-volume hardcover set. At its heart lay two incompatible approaches to the question of sovereignty-in particular, the nature of foreign stockholders' rights in a domestically incorporated joint stock company. John D. Rockefeller, who began his career in refining, became the industry’s first “baron” in 1865, when he formed Standard Oil Company. The History of the Standard Oil Company is credited with hastening the breakup of Standard Oil, which came about in 1911, when the Supreme Court of the United States found the company to be violating the Sherman Antitrust Act. One tentacle reaches for the White House. However, the octopus in the Standard Oil cartoon is clearly labeled with the name of the company, and its tentacles are wrapped around the seats of power in Washington and do not have global reach.   Terms. LLOYD, supra note 12, at 8. Next!, a cartoon from the magazine Puck, September 7, 1904, depicts the Standard Oil Company as an octopus with tentacles wrapped around the copper, steel, and shipping industries, as well as a state house and Congress. Mar 24, 2014 - At Intellectual Takeout we research complex ideas and policy issues to make them easier to understand by slicing and dicing academic, government, and historical research. A "Standard Oil" storage tank is an octopus with many tentacles wrapped around the steel, copper, and shipping industries, a state house, the U.S. Capitol, and one tentacle an octopus with many tentacles wrapped around the steel, copper, and shipping industries, a state house, the U.S. Capitol, and one tentacle reaching for the White House. With arms already wrapped around the steel, copper, and shipping industries; the United States Capitol; and a state capital building; it now stretches out yet another tentacle over the White House. "[9], "Miss Tarbell Has the Distinction (political cartoon)". These reactions are immortalized in political cartoons utilizing imagery of Rockefeller's hidden agendas being demolished by investigative journalism and muckraking. From kerosene for lamps, gasoline for cars, and plastic polymers for everyday products, the industry’s social, economic and technological history offers a context for understanding modern energy debates. Her father, Franklin Tarbell, worked for Standard Oil and lived through what Ida called "hate, suspicion, and fear that engulfed the community." Political Cartoon Lampoons Standard Oil A politcal cartoon entitled 'The Monster Monopoly' comments on the Standard Oil Comapany, circa 1884. workers unions. Standard Oil, Royal Dutch Shell, and British Petroleum: The Original Super-Majors. C) The Standard Oil Trust was seen as a monopoly that influenced government and other industries. He was the eldest son of Commodore Cornelius, family. Clarke Historical Library: creatorOf: Standard Oil Company (Ohio). The Standard Oil Trust was seen as a monopoly that influenced government and other industries. 'Monster Monopoly.' A) The Standard Oil Trust was seen as a danger to the traditional American way of life. 14. the 19th century. He concluded there was “little to no evidence” of wrongdoing, adding that “Standard Oil did not use … https://www.nytimes.com/1999/03/01/business/media-journalism-s-greatest-hits-two-lists-of-a-century-s-top-stories.html, American Experience | The Rockefellers | Special Features | A Journalistic Masterpiece, https://en.wikipedia.org/w/index.php?title=The_History_of_the_Standard_Oil_Company&oldid=992567398, Creative Commons Attribution-ShareAlike License, This page was last edited on 5 December 2020, at 23:28. 1904 Standard Oil Octopus At the beginning of the 20 th century, Standard Oil was the world’s largest corporation; it was also the first multinational corporation – until the U.S. Supreme Court dismantled it in 1911, as part of anti-monopoly wave that had commenced with the Sherman Anti-Trust Act of 1890 . these railroads’ stock and eventually controlled an estimated one-sixth of America’s rail lines, many people thought of he and other businessmen as robber barons; they had a lot of power and. [5] One review from the Economic Journal fixated on the monumental nature of Tarbell's work, stating that "it is difficult to write about Miss Tarbell's remarkable achievement without using language approaching the edge of hyperbole. Question options: It exposed the corrupt Standard Oil Company, Monopoly, and Trust. Learn more about Standard Oil’s reorganization in the face of antitrust actions and about Rockefeller’s philanthropy. [8], In a 2010 column, economist Thomas Sowell criticized Tarbell for what he characterized as cherry picking which data to include in her book: "One of the crucial facts left out of Ida Tarbell's book was that Rockefeller's improvements in the oil industry brought down the price of oil to a fraction of what it had been before.[...] The Standard Oil Company emerged out of obscurity in the 1860s to capture 90 percent of the petroleum refining industry in the United States during the Gilded Age. Throughout the collection, one can see evidence of the fusion of brand and corporate identities when Socony Mobil Oil Company changed its name to Mobil Oil Corporation in 1966, and Standard Oil Company (New Jersey) became Exxon Corporation in 1972, each dropping the last vestige of the Standard Oil name. B) The Standard Oil Trust killed many different types of wildlife with its drilling practices. The Standard Oil Trust was formed in 1863 by John D. Rockefeller. [4], Several journal and newspaper reviewers addressed The History of Standard Oil Company by praising its calmness in the face of hatred, focus on facts, and genuine exposure of the effects that greed can have on businessmen seeking success. The finished product of this sort of collusion, was much more damaging to the economy and/or environment, especially after Rockefeller, (April 17, 1837 – March 31, 1913) was an American, financier and banker who dominated corporate finance and industrial consolidation in late 19th. [7] In his 2008 book Taking on the Trust: The Epic Battle of Ida Tarbell and John D. Rockefeller, Steve Weinberg described the exposure of Standard Oil as "arguably the greatest work of investigative journalism ever written". The History of the Standard Oil Company remains a classic of investigative reporting, and Tarbell’s legacy as a someone who took seriously the credo that journalists should “afflict the comfortable and comfort the afflicted” lives on. Eventually, Tarbell uncovered a crucial piece of evidence proving that Standard Oil was rigging railroad prices and preying on its competition. [Pamphlets. octopus with tentacles wrapped around the steel, copper, and shipping industries, a state house, the U.S. Capitol, and has one tentacle reaching for the White House, with the caption, “Next!”. Company Histories. The global standards for sustainability reporting . Yasmin Riggins - Close Read Robber Baron or Captain of Industry, Robber Barons, Captains of Industry, and the Gilded Age, The Industrial Age in America: Robber Barons and Captains of Industry, Bright Career College, Mailsi • MATH 101, 223, Prior Lake High School • HISTORY AP US Hist, the_2nd_indust.rev_reading_w_questions.docx, University of Texas, Rio Grande Valley • HISTORY 1302, Copyright © 2021. [3], In 1999 a jury under the aegis of the New York University's journalism department selected The History of the Standard Oil Company as the fifth best work of journalism in the United States in the 20th Century. The History of the Standard Oil Company is a 1904 book by journalist Ida Tarbell. Although it is not clearly stated or proven that J.P. Morgan was a robber baron, he was still perceived as one. Course Hero is not sponsored or endorsed by any college or university. STANDARD OIL CARTOON. So careful is she in her facts, so sane in her judgements, that she seems to have reached the high-water mark of industrial history." [2][3] Journalists, politicians, and citizens alike celebrated the accomplishments of Tarbell - a woman "outside" the inner workings of business and without significant money or influence. The theory that Standard Oil engaged in “predatory practices” and “exploited” consumers has prevailed in history books. Finally the image of the Standard Oil Company with tentacles from the Library, 7 out of 7 people found this document helpful, monopoly without the help of the banks.” Finally, the image of the Standard Oil Company with, tentacles from the Library of Congress, in, depicts a Standard Oil storage tank as an. This political cartoon from 1904 well demonstrates American fears about the Standard Oil Company's vast and growing power over the American government. Students must read an introductory text and then analyze the cartoon to answer a set of analysis questions. Why was the Standard Oil Trust MOST likely pictured as an octopus with many tentacles in the cartoon? , from the statement of Pullman Strikers (June 1894), it says. This implies that the oil company had control over all other industries and the government; money meant power, and soon all of the people in the White House would bow down to the oil, company too because of its financial advantage(s). In the late nineteenth century and during the first decade of the twentieth century, critics attacked Standard Oil as an unlawful monopoly. The company is depicted as an octopus crushing small oil companies, savings banks, the railroads, the shipping industry, the government and businessmen with its tentacles. "MISS TARBELL'S BOOK: A Glance at the Widely Advertised "History of the Standard Oil Company. This article is a shortened version of my Master’s research paper, which … According to History.com, it is said that Morgan “was accused of, manipulating the nation’s financial system for his own gain.” This can be easily conceived of, someone with wealth or who has held a high position in industry during that period in time, because, according to Chapter 16- The Rise of Industrial America (1865-1900), “the federal, government provided railroad companies with huge subsidies in the form of loans and land, grants. The subsequent decision splintered the company into 34 "baby Standards." Course Hero, Inc. In 1931 Standard Oil Company of New York merged with Vacuum Oil Company (another trust company) to form Socony-Vacuum, which in 1966 became Mobil Oil Corporation. The value of Rockefeller's shares rose after the breakup as the new companies had a positive development on the stock exchange.[1]. Although often controversial, the history of U.S. petroleum exploration, production, and transportation should be preserved. 15. The GRI Standards create a common language for organizations – large or small, private or public – to report on their sustainability impacts in a consistent and credible way. ... What is significant about the context this poem? [2], After her education and to accumulate writing experience, Tarbell began working at McClure's Magazine, where she wrote several successful series on historical figures. American Cartoon, 1884, Attacking John D. Rockefeller's Standard Oil Company. and early 20th Century United States. In 1870, the company was renamed Standard Oil Company, after which Rockefeller decided to buy up all the other competition and form them into one large company. As a direct witness to the schemes and horizontal integration of John D. Rockefeller and his associates, Tarbell began building the foundations of The History of the Standard Oil Company early with growing senses of interest and discontent. The house she lived in in Easton became a National Historic Landmark in 1993. B) The Standard Oil Trust killed many different types of wildlife with its drilling practices. From Granger - Historical Picture Archive. Get informed and be empowered! Why was the Standard Oil Trust MOST likely pictured as an octopus with many tentacles in the cartoon? Yale University Library: referencedIn: Idol, James D., 1928-. Libby's indignation reminds us that more than oil was at stake in this dispute. A) The Standard Oil Trust was seen as a danger to the traditional American way of life. During the 1900's, muckrakers were born and raised in this time period. The History of the Standard Oil Company is credited with hastening the breakup of Standard Oil, which came about in 1911, when the Supreme Court of the United States found the company to be violating the Sherman Antitrust Act. Nov 8, 2016 - This simple worksheet includes a primary source political cartoon about John D. Rockefeller's famous Standard Oil monopoly. Historical Context Standard Oil was a large, integrated, oil producing, transporting, refining, and marketing company. Oral history interview with James D. Idol 1994 December 8 Chemical Heritage Foundation, Othmer Library of Chemical History… Students must first situate a playbill in time. A Standard Oil tank wraps its tentacles around the Capitol, State House, and major industries, while reaching for the White House. Standard Oil Company of New Jersey was originally formed in 1882 as a refining and marketing arm of the Standard Oil Trust. Standard Oil began as an Ohio partnership formed by the well-known industrialist John D. Rockefeller, his brother William Rockefeller, Henry Flagler, chemist Samuel Andrews, and a silent partner Stephen V. Harkness. Standard Oil Trust. Standard Oil 1904 American cartoon depicting the Standard Oil company as an octopus (Library of Congress) The most famous octopus cartoon must be this 1904 depiction of John Rockefeller’s Standard Oil. Students then select facts that might provide relevant historical context for determining the authors' motivation and explain how the facts might shed light on why the authors wrote the play. Finally, the image of the Standard Oil Company with tentacles from the Library of Congress, in Document 5 depicts a Standard Oil storage tank as an octopus with tentacles wrapped around the steel, copper, and shipping industries, a state house, the U.S. Capitol, and has one tentacle reaching for the White House, with the caption, “Next!” [2][3], Public outcry erupted at the conclusion of Tarbell's 19-part exposure of Standard Oil published in McClure's, eventually resulting in the expedited breakup of Standard Oil in 1911. “John D. Rockefeller, Standard Oil, and the Rise of Corporate Public Relations in Progressive America, 1902-1908,” Journal of the Gilded Age and Progressive Era 16.3 (July 2017): 245-63. Would the public have been better off if older and more costly methods of producing, processing and shipping oil had continued to be used, leading to prices far higher than necessary? The U.S. made improvements in history when Ida Tarbell's The History Of The Standard Oil Company was published in 1904(People). It was not, strictly speaking, Standard that had run into trouble in Austria, 1904 American cartoon depicting the Standard Oil company as an octopus (Library of Congress) John D. Rockefeller, American industrialist and philanthropist, founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Originally serialized in nineteen parts in McClure's magazine, the book is a seminal example of muckraking, and inspired many other journalists to write about trusts, large businesses that (in the absence of strong antitrust laws in the 19th century) attempted to gain monopolies in various industries. Yet economist John S. McGee reviewed over 11,000 pages of trial testimony, including the charges brought by Standard Oil’s competitors. These men were considered “robber, barons” of industry because of their role in working with corrupt politicians and mistreating. John D. Rockefeller, the company's founder, organized the company around an … Also, owner of the New York Central Railroad and other railroads, (May 8, 1821 – December 8, 1885) was an American businessman, and philanthropist. … The land grants and cash loans promoted hasty and poor construction and let to, corruption in all levels of government.” Because Morgan gained control of significant portions of. See IDA M. TARBELL, THE HISTORY OF THE STANDARD OIL COMPANY (1924). Financial history.]. This assessment gauges students' ability to source and contextualize a document.

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