Monopolies and the People

The author examines the rise and operations of corporate monopolies—particularly railroad and banking interests—and documents their use of land grants, subsidies, stock manipulation, and legislative influence to enrich managers while burdening farmers and laborers. He traces specific schemes including railroad construction contracts, Credit Mobilier–style arrangements, watered stock, warehouse extortion, municipal indebtedness, and tariff and patent abuses, and criticizes collusion among legislators, the executive, and the courts. Chapters discuss constitutional limits, eminent domain, taxation, currency control, and proposed government regulation, concluding with a call for decisive reform to restore public rights and check consolidated capital.