Garet Garrett

“ With already the cheapest railroad transportation in the world, people were clamoring for it to be made cheaper. Crazy Populists were telling the farmers it ought to be free, like the air. Prejudice against railroads was amazing, irrational and suicidal. All profit in railroading had been taxed and regulated away. Incentive to build new roads had been destroyed. If by a special design of the Lord a railroad did seem to prosper the politicians pounced upon it and either mulcted it secretly or held it forth to the public as a monster that must be chained up with restrictive laws. ”

“ Unconsciously Galt worked on the principle that once a thing has happened it cannot unhappen. The fact of its having happened is original and irrevocable. Every other fact in the universe must adjust itself to that one. Something else may happen the next instant; that is a new happening again.
Mr. Valentine was violently agitated by the traffic manager’s dismissal. If he had been consulted he would have made an issue of it. But there it was. It had happened. The fact created a situation. He might refuse to accept the situation, but he could not extinguish the fact. ”

“ For several years the public, now restored to high prosperity, observed with interest, awe, even with pride the appearance of those vast anonymous shapes which capital by a headlong impulse had been raising up to control production and transportation. Mergers, combines, trusts,—they came in endless succession. Hardly a day passed without a new sensation in phantasmic millions. People were seized with a gambling mania. Each day promoters threw an enormous mass of new and unseasoned securities upon the market, and they were frantically bought, as if the supply were in imminent danger of failing. ”

“ She leased an old house in West Tenth Street and had it all made over into studio apartments, four above to be let by favor to whom she liked and one very grand on the ground floor for herself. Then she became a patron of the arts. It is an easy road. Art is hungry for praise and attention. Artists are democratic. They keep no rules, go anywhere, have lots of time and love to be entertained by wealth, if only to put their contempt upon it. The hospitality of a buyer must be bad indeed if they refuse it. Vera’s hospitality was attractive in itself. ”

“ One evening on my return from an urgent trip to New York Natalie came racing down the great hall to meet me, with a flying slide at the end, as in the old days she was wont to meet Galt, and whether she meant it quite, or miscalculated the distance, I do not know; but anyhow I had either to let her go by off her balance or catch her, and she landed in my arms.
“Oh, Coxey, he’s asking for you,” she said, getting her feet and dragging me along at a run. “He’s better all at once. He can talk.” ”

“ If a man with whom he meant to do business insisted upon talking beside the point he would say: “Go outside to make your speech and then come back.” He never read a newspaper. He looked at it, sniffed, crumpled it up and cast it from him, all with one gesture. Four or five times a day he ran a yard or two of ticker tape through his fingers and glanced in passing at the news printing machine. Magazines and books were non-existent matter. Yet within the area of his own purposes no fact, no implication of fact, was ever lost.
Meanwhile Great Midwestern stock was slowly rising. ”

“ Money is not a thing either true or untrue. It is merely a token of other things which are useful and enjoyable. Both silver and gold are sound for that purpose. Their use is of convenience, and the proportions and quantities in which they shall circulate as currency is rationally a matter of arithmetic. Yet here were millions of people emotionally crazed over the question of which should be paramount, one side talking of the crime of dethroning silver and the other of the gold infamy. ”

“ The Galt Railroad System, formerly treated with respect and wonder, now was represented to be an octopus, oppressive, arrogant, holding power of life and death over helpless communities.
And all the time there were men at Washington who whispered into the official ear: “Of course a lot of this outcry is senseless. There are good trusts and bad trusts. Most of them have the economic welfare of the country at heart and are willing to submit to any reasonable regulation. The public is undiscriminating. Its mind becomes fixed on what is bad. It happens to be fixed on this Galt Railroad Trust. ”

“ Every few days there’s a rumor on the Stock Exchange that we are busted, as so many other railroads are, and then the speculators, as I told you, create so much uproar and confusion that no legitimate buyer can find a legitimate seller, but all must do business with the speculator, who plays upon their emotions in the primitive manner by means of terrifying sounds and horrible grimaces. ”

“ Wall Street was the stronghold of the gold people. It was to Wall Street that the government came to sell bonds for the gold it required to replenish its gold fund. The spectacle of the Secretary of the Treasury standing there with his hat out, like a Turkish beggar, was viewed exultingly by the gold people. “Carlisle’s Bonds Won’t Go,” said the New York Sun in a front page headline, on one of these occasions. Carlisle was the Secretary of the United States Treasury, entreating the gold people to buy the government’s bonds with gold. ”

“ As a railroad executive Valentine for all his experience was inefficient. This had been always tolerantly understood. But now with Galt’s work beginning to produce results in contrast the fact was openly admitted. Galt’s touch was sure, propulsive and unhesitating. And besides, in whatever he did there was an element of fortuity that could not be reasoned about. He not only did the right things; he did them at precisely the right time.
“You remember what I told you a long time ago,” said Harbinger. “He sees things before they happen. My heart breaks for the old man ... but it’s no use.” ”

“ Nobody seemed very sanguine about the Coxey plan; nobody understood it, in fact; yet something would have to be done; people couldn’t live without work.
Unemployment was the basic grievance. I took a group of twenty, all skilled workmen, sixteen of them married, and found that for each of them the average number of wage earning days in a year had been twelve. They blamed the money power in Wall Street. When they were asked how the money power could profit by their unemployment, what motive it could have in creating hard times, they took refuge in meaningless phrases. ”

“ In the Middle Ages Europe might have advanced, with consequences in this day not easily to be imagined, but for the time and the energy of mind and body which were utterly wasted in quest of holy grails and dialectical forms of truth. So now in this magnificent New World, the resources of which were unlimited, human progress had been arrested by silly Utopians who distracted the mind with thoughts of unattainable things. ”

“ The disturber was Jonas Gates, a dry, mottled little man, indecorously old and lewdly alert, with a shameless, impish sense of pleasantry. He practiced usury on a large scale as a kind of Stock Exchange pawn broker, lending money to people in difficulties at high rates of interest until they had nothing more to pledge and then cutting them off at the pockets. ”

“ Buggies, two-wheelers, open carts and spring wagons line both sides of the street. The horses are blanketed. A damp, chill wind is blowing. Vendors from Chicago, lewd-looking men, working a hundred feet apart, are yelling: “Git a Christ army button here fer a nickel!” There is a composite smell of ham sandwiches, peanuts, oranges and cigars.
A shout rises at the far end of the street. The crowd that has been so thick there, filling the whole space, bursts open. A band begins playing “Onward Christian Soldiers,” and the spectacle is present.
First comes a negro bearing the American flag. ”

“ This was the first true exhibition of his power to move men’s minds,—a power which nobody understood, which he did not himself understand. Perhaps it was not their minds he moved. Men of strong will often turned from their convictions and voted with him or for what he wanted who afterward, having recovered their own opinions, were unable to say why they had acted that way. ”

“ So many winds running their feet together, like people in a mob, create a storm; and when it is over and they are themselves again, sane little winds, they wonder at what was done. The Wall Street news tickers reported that certain banks were refusing to lend money on Galt securities. This may have been a stroke of the conspiracy or merely a reaction to the prevailing fear, or both interacting. One never knows. But it was true, and Great Midwestern securities suffered another frightful fall. ”

“ A scourge of unemployment fell upon the land and labor as such, with no theory of its own about money, knowing only what it meant to be out of work, assailed the befuddled intelligence of the country with that embarrassing question: Why were men helplessly idle in this environment of boundless opportunity? ”

“ On a rainy Wall Street morning in late December, with no sign or gesture of anguish, the Great Midwestern Railroad gave up its corporate existence and died.
It was a shapeless event.
Ten men sat around the long table in the Board Room smoking, fidgeting, irritably watching the time. These were the eminent directors. They were men whose time nobody could afford to waste,—enterprisers in credit, capital, oil, coal, metals and [Pg 116] packing house products. They wished the obsequies to begin promptly and be as brief as possible, for they had many other things to mind. ”

“ One evening as dinner was finishing Vera looked at me across the table and said: “Won’t you come sometime to tea when father can’t have you all to himself? He hates tea.”
I was startled and absurdly thrilled; but the curious feeling was that I became in that instant an object of curiosity and solicitude mingled, as one marked by fate for a certain experience. I got this particularly from Natalie who glanced first at me with an anxious expression, and then at her sister.
“We are always at home Sunday afternoon,” said Mrs. Galt. ”

“ No answer.
“I say you will be the economic dictator of the whole country.”
“I heard you say it,” said Galt. “It ain’t a question.”
“But do you think it desirable that one man should have so much power,—that one man should run the country?”
“Somebody ought to run it,” said Galt.
“Is it your ambition to run it?”
“It is my idea,” said Galt, “that the financial institutions of the country,—I mean the insurance companies and the banks,—instead of lending themselves out of funds in times of high prosperity ought then to build up great reserves of capital to be loaned out in hard times. ”

“ More than anything else Galt missed his maps and charts. A map of any portion of the earth’s surface enthralled him. The act of gazing at it stimulated his thoughts. And statistical charts,—those diagrams in which quantities, ratios and velocities are symbolized by lines that rise and fall in curves,—these were to him what mathematical symbols are to an astronomer. He could not think easily without them. We had tried various devices for getting maps and charts before him, and they were all unsatisfactory. One day he said: “I can look at the ceiling and walls without effort. ”

“ The terms were hard, but the government, owing to the fascinated stupidity of Congress, was in a helpless plight. What Cleveland had the courage to face was the fact that any terms were better than none. It was fundamentally a question of psychology. The spell had somehow to be broken. The richest and most resourceful country in the world was about to commit financial suicide for a fetich. All that was necessary to save it was to restore the notion,—merely the notion,—of gold solvency. People really did not want gold to hoard or keep. ”

“ One evening late, with a particularly interesting nocturnal adventure behind us, we stood in the hallway saying good-night. We said it and lingered; said it again and still lingered. She was more excited than usual. Her lips were slightly parted. She almost never blushed, but on rare occasions, such as now, there was a feeling of pink beneath the deep brunette color of her skin.
Her beauty seemed of a sudden to expand, to become greatly exaggerated, not in quality but in dimensions, so that it excluded all else from the sense of space. The sight of it unpoised me. And she knew. ”

“ In the next room were two motionless men with their backs to each other, keeping a perfunctory, low-spirited tryst with an enormous iron safe.
“Our treasurer, John Harrier,” said Harbinger, introducing me to the first one,—a slight, shy man, almost bald, with a thick, close-growing mustache darker than his hair. He removed his glasses, wiped them, and sat looking at us without a word. ”