Great Fortunes from Railroads

"Great Fortunes from Railroads" by Gustavus Myers is a historical account written during the late 19th century. The book delves into the monumental fortunes amassed through the manipulation and control of railroad systems, examining the intertwining of wealth, government, and legal systems that facilitated this economic power. It particularly highlights the Vanderbilt and Gould fortunes, detailing how their wealth was acquired through a combination of industrial development, legislative corruption, and social inequalities. At the start of the work, Myers sets the stage by discussing the broader context of the American economy during the development of the rail industry. He contrasts the slow and individualistic growth of factory owners with the rapid accumulation of wealth by railroad magnates, illustrating the corrupt practices employed to seize public lands and secure legal advantages over the poorer classes. Myers argues that the laws established were often manipulated for the benefit of a select few, allowing them to monopolize resources while effectively disenfranchising the working population. This initial portion serves not only as an introduction to the rich historical narrative of railroad fortunes but also poses a critique of societal structures that enable capitalism to exploit labor and resources at the expense of common citizens. (This is an automatically generated summary.)

Gustavus Myers was an American journalist and historian who published a series of highly critical and influential studies on the social costs of wealth accumulation.