In “The Star-Spangled Scotchman,” author Andrew Carnegie tells of his life along with his business partner William Coleman. The pair formed the Columbia Oil Company together in 1861. The company boomed, making the men over a million dollars in its lifetime. Carnegie was also a partner in the Keystone Bridge Company, which manufactured iron railway bridges. This company also added to his great wealth.
In “Henry Demarest Lloyd Exposes Standard Oil Monopoly,” Lloyd exposes the truth about how much kerosene we use and how this has created a monopoly for Standard Oil. He says that people use more kerosene than they do Bibles, and this intensive use of the resource is all controlled by one company, Standard Oil, which many people did not know. Technically the company produces one fiftieth-sixtieth of the petroleum, but it controls the price of all of it, and refines almost all of it. This means that the company does not have a true monopoly, how it gets away without legal trouble. This is why Lloyd exposes the company, sharing of their monopolistic ways.
In “Teddy Roosevelt Advocates Regulation,” TR discusses how the wealth of the nation was once sufficiently regulated, but with the influx of new laws and customs, adjustments on regulation needed to be made. At the beginning of his presidency, Theodore Roosevelt makes it clear in this statement that regulations need to be made to clear up the distribution and accumulation of wealth in America.
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