According to historian David Burton, "When it came to domestic political concerns, TR’s Bete Noire was the plutocracy.In his autobiographical account of taking on monopolistic corporations as president, TR recounted’’ …we had come to the stage where for our people what was needed was a real democracy; and of all forms of tyranny the least attractive and the most vulgar is the tyranny of mere wealth, the tyranny of a plutocracy.’’The Sherman Antitrust Act had been enacted in 1890, with large industries reaching monopolistic or near-monopolistic levels of market concentration and financial capital increasingly integrating corporations, a handful of very wealthy heads of large corporations began to exert increasing influence over industry, public opinion and politics after the Civil War. Money, according to contemporary progressive and journalistWalter Weyl, was "the mortar of this edifice", with ideological differences among politicians fading and the political realm becoming "a mere branch in a still larger, integrated
According to historian David Burton, "When it came to domestic political concerns, TR’s Bete Noire was the plutocracy.In his autobiographical account of taking on monopolistic corporations as president, TR recounted’’ …we had come to the stage where for our people what was needed was a real democracy; and of all forms of tyranny the least attractive and the most vulgar is the tyranny of mere wealth, the tyranny of a plutocracy.’’The Sherman Antitrust Act had been enacted in 1890, with large industries reaching monopolistic or near-monopolistic levels of market concentration and financial capital increasingly integrating corporations, a handful of very wealthy heads of large corporations began to exert increasing influence over industry, public opinion and politics after the Civil War. Money, according to contemporary progressive and journalistWalter Weyl, was "the mortar of this edifice", with ideological differences among politicians fading and the political realm becoming "a mere branch in a still larger, integrated