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- NARRATOR: Previously
on the men who built America...
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Fighting back from the
bloodshed of the Civil War,
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America has grown into one
of the most powerful countries
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00:00:15,349 --> 00:00:16,391
on the planet
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fuelled by a group
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00:00:18,519 --> 00:00:21,396
of visionaries who
are building a better future.
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Vanderbilt stopped at
nothing to connect
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the nation via railroads.
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- If they want a War--
I'll give them a war.
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- NARRATOR: Rockefeller
used his trademark
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00:00:35,953 --> 00:00:38,788
ruthlessness to light
homes from coast to coast...
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- But what about the
Pittsburgh refineries?
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00:00:41,250 --> 00:00:42,291
- Shut them down.
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- NARRATOR: Cities are
expanding to the sky
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built on the strength of
Andrew Carnegie's steel.
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- It's impossible.
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- Nothing's impossible.
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- NARRATOR: And under
J.P. Morgan's control,
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electricity is starting
to power the country.
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- EDISON: Long live
the electric light.
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- (laughter)
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- (applause)
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- MORGAN: We're in the
early days of a new industry.
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- NARRATOR: In just 35
short years the nation
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has changed faster than
anyone could imagine.
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But the incredible advancements
come with a price.
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- All those in favor of
striking, raise your hand!
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- NARRATOR: An undercurrent of
anger is growing...
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- Fire!
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- (gun fires)
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- NARRATOR: And many...
- Mr. Frick...
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- NARRATOR: are looking
to take back control
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of the country
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but America's
most powerful Titans
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believe they
answer to no one.
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- I've heard enough.
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This is what's
going to happen.
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The Morgan bank...
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- NARRATOR: And with a
Presidential election
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on the horizon their next
move will shock the world.
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- (Blues Saraceno playing
"Save My Soul")
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♪ When I got to Memphis ♪
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♪ I put my old
baby down ♪
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♪ He said I can't
take you to Heaven ♪
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♪ I can't save
your soul ♪
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♪ I can't promise
forever ♪
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♪ Whoo ♪
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♪ With my heart
in your hands ♪
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♪ I can't feel,
fell my soul ♪
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- NARRATOR: After inheriting
and expanding his father's
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banking empire J.P. Morgan
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is now among the
most powerful man in the nation.
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00:03:01,181 --> 00:03:03,349
His influence over the
country is matched
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by only two other men.
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Andrew Carnegie and John
D Rockefeller
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have been rivals for decades
and that competition
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has driven both men to
incredible heights.
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00:03:18,782 --> 00:03:21,534
At the peak of
their power, J.P. Morgan,
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00:03:21,618 --> 00:03:23,870
John Rockefeller
and Andrew Carnegie
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00:03:23,954 --> 00:03:25,663
are worth the modern
equivalent
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of over $1 trillion dollars
combined.
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More than the entire
net worth
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of the 40 richest people
alive today.
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- The wealth, then,
was like royalty.
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It was just a
different thing.
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They literally
controlled the country.
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When you're talking about
a guy like Rockefeller,
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who was literally
1% of the economy,
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it's stunning to
think about that.
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It is almost
incomprehensible.
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- NARRATOR: But
while Carnegie,
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Rockefeller and Morgan
continue to get richer,
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00:03:53,817 --> 00:03:55,943
others are
struggling to get by.
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00:03:57,321 --> 00:03:59,697
The gap between the rich
and the poor
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is as big as it's ever been.
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00:04:03,827 --> 00:04:06,746
Over 90% ofAmericans
survive on less than $100
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dollars per month, while
the average worker earns
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00:04:10,250 --> 00:04:13,836
barely a dollar a day--
well below the poverty line.
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Working conditions in
factories across
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the country are
almost unbearable.
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00:04:20,552 --> 00:04:24,639
In a single year, one out
of every 11 steel workers
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will die while on the job.
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As the country approaches
the 1896 Presidential
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election, America's poor
are desperate and without hope.
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One man sees the
opportunity to harness
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their anger and in the
process propel himself
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to the White House--
William Jennings Bryan.
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Bryan runs on a ticket
promising equality
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for all, vowing to be
a voice for the poor
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and to take the fight
to the country's elite.
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00:05:05,889 --> 00:05:08,265
- The great combinations
of capital have encroached
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upon the rights
of the masses.
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No man can earn a
million dollars honestly.
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- (applause)
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- He made himself the
spokesman for the common man.
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He was the Great Commoner.
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There's no doubt that he
tapped into something
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that was vital to most
Americans
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that were not well off.
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- Republicans endeavor to
overthrow and discredit
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all who honestly
administer the law
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and to allow every wrong doer
to operate unchecked
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as long as he has
enough money.
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- The monopolies, the
trusts became a target
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of Democrats, so that
anti-trust became
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a rallying cry of everybody
who was--well not seen
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as in the hip pocket of the
corporations themselves.
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- I will tear
down these trusts.
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Do you hear me, Carnegie?
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Do you hear me,
Rockefeller?
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- (applause)
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- NARRATOR: Bryan's
emergence is the biggest
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threat the Titans
have ever faced.
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He promises to dismantle
their companies and to not rest
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until they're
behind bars.
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- CARNEGIE: This is
William Jennings Bryan
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at a recent Democrat rally.
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He's a prohibitionist and
a devout Presbyterian.
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00:06:30,766 --> 00:06:33,100
According to him, Darwin's
theory of evolution
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00:06:33,185 --> 00:06:34,435
is a pack of lies.
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00:06:34,936 --> 00:06:37,146
He's an enemy of the gold
standard and an enemy
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of big business.
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It is certain that he will win
the Democratic nomination.
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What do you think?
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- The Republican party
has a good candidate.
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00:06:52,829 --> 00:06:56,749
- No. We have to have
to buy our own president.
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- They took advantage
of the strengths.
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00:07:04,091 --> 00:07:06,675
When you have, you know,
what relatively speaking
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00:07:06,760 --> 00:07:08,511
is an unlimited
amount of money,
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00:07:08,595 --> 00:07:11,180
you can pay people to do
almost anything for you.
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- NARRATOR: Desperate
to protect the empires
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they've spent their
lifetimes building
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the titans throw their
full support
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00:07:20,023 --> 00:07:22,441
behind the candidacy of
Ohio Governor,
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William McKinley.
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- William McKinley's
campaign manager was
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an industrialist
himself and he went,
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00:07:30,534 --> 00:07:33,452
essentially hat in
head, around Wall Street
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00:07:33,537 --> 00:07:34,787
"dunning them".
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00:07:34,871 --> 00:07:37,289
Saying, "if McKinley
doesn't win,
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00:07:37,374 --> 00:07:41,168
that crazy man Bryant will
be President and if Bryan
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is President, don't you
realize what that is going
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00:07:43,713 --> 00:07:45,339
to do to the credibility
of the United States
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around the world?"
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00:07:47,259 --> 00:07:49,635
- NARRATOR: The Titans
weld more power than any group
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00:07:49,719 --> 00:07:51,428
of men in American history
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and they're about to use it.
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- Much appreciated.
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00:08:05,819 --> 00:08:07,736
This is McKinley's speech
that he'll be giving
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00:08:07,821 --> 00:08:09,530
at the Republican convention.
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00:08:15,787 --> 00:08:17,830
- Make sure he
sees it in time.
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- Understood.
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00:08:20,917 --> 00:08:24,461
- NARRATOR: Rockefeller,
Morgan and Carnegie each
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00:08:24,546 --> 00:08:27,214
give over $200,000
to McKinley.
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The equivalent of $20
million dollars today.
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00:08:32,304 --> 00:08:34,680
The campaign is, by far,
the most expensive
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00:08:34,764 --> 00:08:38,809
in American history and
McKinley outspent Bryan
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by a factor of five to one.
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But they don't just
fund their candidate.
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The group wields
tremendous influence
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00:08:55,952 --> 00:08:58,204
and they aren't shy
about using it.
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Suggesting headlines and
orchestrating PR campaigns
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00:09:03,376 --> 00:09:05,628
that end up getting
McKinley elected.
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00:09:06,296 --> 00:09:10,216
- It was easier to buy the
publicity that you wanted
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00:09:10,300 --> 00:09:12,092
in those days,
than it is now.
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00:09:12,177 --> 00:09:15,512
The news media was a
smaller market and it was easier
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00:09:15,597 --> 00:09:18,182
to feed information
to your favorite
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00:09:18,266 --> 00:09:20,476
correspondents than
it probably is now.
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00:09:21,895 --> 00:09:23,687
- NARRATOR: Bryan
fights back.
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He undertakes the
country's
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00:09:25,148 --> 00:09:26,982
first whistle-stop press tour.
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Cross-crossing the nation
and talking directly
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00:09:30,362 --> 00:09:31,570
to the people.
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00:09:32,364 --> 00:09:35,074
The tour becomes the model
for the way Presidential
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Bryan gives over 500
speeches to huge crowds
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across the country.
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- I will put rings in
the noses of these hogs.
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- NARRATOR: Publicly
attacking the nation's richest
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00:09:52,175 --> 00:09:55,427
and most powerful
men and vowing to usher
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00:09:55,512 --> 00:09:56,804
in a whole new era.
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00:09:58,014 --> 00:10:00,641
As Bryan's campaign
gains traction,
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00:10:00,725 --> 00:10:03,102
the nation's leading
industrialists turn
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00:10:03,186 --> 00:10:04,478
to fear tactics.
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00:10:06,189 --> 00:10:09,149
- Many big employers--
many big industrialists
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00:10:09,234 --> 00:10:12,069
said, "if Bryan
wins this election,
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00:10:12,153 --> 00:10:15,364
business is going to be so
bad we're simply closing shop.
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00:10:15,824 --> 00:10:18,784
So, if Bryan wins
on election Tuesday,
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00:10:18,868 --> 00:10:21,287
don't bother showing up
for work on the next day
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00:10:21,371 --> 00:10:22,997
because there
won't be jobs."
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00:10:23,665 --> 00:10:26,542
Well, if you're a worker
and this is something that
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00:10:26,626 --> 00:10:28,627
confronts you, you're
going to think very
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00:10:28,712 --> 00:10:31,463
seriously--even if you
had been intending to vote
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00:10:31,548 --> 00:10:33,132
for Bryan, which
way does...
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00:10:33,216 --> 00:10:35,301
maybe your heart
leans towards Bryant,
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00:10:35,385 --> 00:10:37,511
but where does your
pocketbook point?
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00:10:39,931 --> 00:10:43,225
- NARRATOR: On election
day the lines are drawn.
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It's Wall Street
versus Main Street,
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00:10:46,062 --> 00:10:47,563
rich versus poor.
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00:10:48,273 --> 00:10:51,233
- One of the things of an
evolving society is that--
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00:10:51,318 --> 00:10:53,110
is the wealth distribution
and it's clear that we
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00:10:53,194 --> 00:10:55,612
argue about today has a
corner in every politics.
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00:10:55,697 --> 00:10:58,198
Is it better with wealth
in the hands of a few,
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00:10:58,283 --> 00:10:59,700
versus distributing
among the many,
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00:10:59,784 --> 00:11:02,661
whether from a moral or
an economic point of view.
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00:11:02,746 --> 00:11:04,955
- NARRATOR: 90% of
eligible voters go
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00:11:05,040 --> 00:11:08,667
to the polls, roughly double
recent turnouts.
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00:11:10,128 --> 00:11:12,671
- In the 1890s voting was
a public act and on one
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00:11:12,756 --> 00:11:15,132
side there was the
Republican ballot box
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00:11:15,216 --> 00:11:16,967
and on the other side was the
Democratic ballot box.
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00:11:17,052 --> 00:11:19,595
And so your foreman or
an agent of your foreman
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00:11:19,679 --> 00:11:21,847
could see who
you voted for.
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00:11:21,931 --> 00:11:26,435
So there was a certain
coercion that was employed
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00:11:26,519 --> 00:11:29,980
by the Republicans upon
those urban workers.
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00:11:30,065 --> 00:11:31,857
They might well have
decided what they decided
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00:11:31,941 --> 00:11:34,151
on their own but this
simply made it easier
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00:11:34,235 --> 00:11:35,736
for them to decide that.
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00:11:40,241 --> 00:11:42,284
- NARRATOR: When
the polls close,
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00:11:42,369 --> 00:11:44,953
the nation's future
hangs in the balance.
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00:11:49,501 --> 00:11:51,543
For 20 long
hours Carnegie,
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00:11:51,628 --> 00:11:54,671
Morgan and Rockefeller
agonize over the results.
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00:11:56,549 --> 00:11:58,801
Not knowing whether the
modern country they helped
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00:11:58,885 --> 00:12:01,678
to build will still
be the same
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00:12:01,763 --> 00:12:03,722
when all the ballots
are counted.
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00:12:10,647 --> 00:12:12,815
America is at
a crossroads.
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00:12:13,650 --> 00:12:16,193
A small group of men
have created the modern
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00:12:16,277 --> 00:12:19,988
country, building
unimagined empires in oil,
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00:12:20,073 --> 00:12:22,491
steel and electricity.
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00:12:25,995 --> 00:12:29,790
But now, those empires
are being threatened.
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00:12:33,503 --> 00:12:36,672
People across the country
are demanding change.
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00:12:36,756 --> 00:12:39,591
Outraged over what they
see as corrupt business
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00:12:39,676 --> 00:12:43,971
practices and unbearable
conditions for workers.
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00:12:46,099 --> 00:12:49,768
The 1896 US Presidential
election is the
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00:12:49,853 --> 00:12:53,230
battleground to determine
the future of the nation
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00:12:54,607 --> 00:12:57,109
and the Titans have done
everything they can
235
00:12:57,193 --> 00:12:59,736
to make sure the election
goes their way.
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00:13:10,748 --> 00:13:14,585
As America goes to the
polls, Andrew Carnegie,
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00:13:16,212 --> 00:13:21,508
J.P. Morgan and John
Rockefeller are forced to wait.
238
00:13:26,264 --> 00:13:29,475
Ultimately, this decision
lies in the hands
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00:13:29,559 --> 00:13:31,143
of the American people.
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00:13:34,314 --> 00:13:35,981
The country is divided.
241
00:13:36,983 --> 00:13:39,818
Democrat William Jennings
Bryant carries the rural
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00:13:39,903 --> 00:13:41,236
South and Mid-West.
243
00:13:42,780 --> 00:13:44,990
While Ohio Governor,
William McKinley,
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00:13:45,074 --> 00:13:46,909
takes the big
money North East.
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00:13:48,661 --> 00:13:53,707
As the results are tallied
the nation holds its breath.
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00:13:58,046 --> 00:14:02,299
Until, finally, a
President is chosen.
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00:14:09,599 --> 00:14:12,017
- NARRATOR: Rockefeller,
Carnegie and Morgan
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00:14:12,101 --> 00:14:13,393
have dodged a bullet.
249
00:14:13,853 --> 00:14:16,313
The country remains
in their control.
250
00:14:17,857 --> 00:14:21,527
With McKinley in office
they're free to conduct
251
00:14:21,611 --> 00:14:24,279
business in the way
they've become accustomed.
252
00:14:28,326 --> 00:14:29,868
- MAURY KLEIN: After
McKinley's election
253
00:14:29,953 --> 00:14:31,870
a number of the issues
that had bothered
254
00:14:31,955 --> 00:14:34,665
the big businessmen
conveniently went away.
255
00:14:35,416 --> 00:14:39,586
He was a man who was
in his philosophy,
256
00:14:39,671 --> 00:14:43,882
in his approach to
politics very much
257
00:14:43,967 --> 00:14:45,467
in sympathy with them.
258
00:14:46,135 --> 00:14:48,804
- NARRATOR: McKinley
rules back regulation
259
00:14:48,888 --> 00:14:51,098
and profits once
again skyrocket.
260
00:14:53,476 --> 00:14:57,354
It's back to business
as usual and Carnegie,
261
00:14:57,438 --> 00:15:01,233
Rockefeller and Morgan are
set to become even more powerful
262
00:15:01,317 --> 00:15:02,526
than ever before.
263
00:15:12,078 --> 00:15:14,496
They've defeated their
common enemy
264
00:15:14,581 --> 00:15:17,165
and with that ultimate
goal achieved
265
00:15:17,250 --> 00:15:20,502
their uneasy alliance
begins to fray.
266
00:15:23,047 --> 00:15:25,757
Rockefeller is the
first to break ranks.
267
00:15:27,302 --> 00:15:31,096
- Because Rockefeller, because
Carnegie were so wealthy,
268
00:15:31,180 --> 00:15:32,973
because they had
so much money--they had
269
00:15:33,057 --> 00:15:35,267
more money than they could
probably reinvest
270
00:15:35,351 --> 00:15:37,811
in their own companies--
they were looking
271
00:15:37,895 --> 00:15:39,521
for things to invest in.
272
00:15:43,443 --> 00:15:45,861
- NARRATOR: John
Rockefeller learns
273
00:15:45,945 --> 00:15:49,114
of a massive deposit of iron
ore in Northern Minnesota.
274
00:15:50,491 --> 00:15:53,535
The primary material used
in production of steel.
275
00:15:57,749 --> 00:16:00,876
Rockefeller knows little
about the steel business.
276
00:16:01,377 --> 00:16:03,795
What he does know is that
Andrew Carnegie is the
277
00:16:03,880 --> 00:16:08,258
biggest steel producer in
the world and that this is
278
00:16:08,343 --> 00:16:12,012
his chance to beat his
long time rival at his own game.
279
00:16:14,223 --> 00:16:17,726
- If you were a well-run
company competing against
280
00:16:17,810 --> 00:16:20,896
other well-run companies
you're coming up
281
00:16:20,980 --> 00:16:23,398
with ideas to jump them.
282
00:16:24,233 --> 00:16:26,026
You're thinking
they might do this,
283
00:16:26,110 --> 00:16:27,444
I'm going to do this.
284
00:16:28,112 --> 00:16:30,238
It's not a big
complicated thing.
285
00:16:36,120 --> 00:16:37,871
- Rockefeller is a fool.
286
00:16:38,331 --> 00:16:39,289
- How so?
287
00:16:47,173 --> 00:16:48,632
- Should we be worried?
288
00:16:48,716 --> 00:16:49,591
- No.
289
00:16:50,468 --> 00:16:54,137
You can buy iron ore
anywhere and the ore from
290
00:16:54,222 --> 00:16:56,264
the Mesabi Mountains
is like dust.
291
00:16:56,349 --> 00:16:58,642
It clogs the
blast furnaces.
292
00:16:58,976 --> 00:17:01,978
No steel producer in his
right mind would buy it.
293
00:17:08,778 --> 00:17:10,862
- (dynamite explosion)
294
00:17:13,241 --> 00:17:15,784
- NARRATOR: But
Carnegie is wrong.
295
00:17:15,868 --> 00:17:18,829
Steel manufacturers
quickly figure out how
296
00:17:18,913 --> 00:17:22,416
to use the iron ore and
Rockefeller immediately
297
00:17:22,500 --> 00:17:25,919
begins supplying it to
Carnegie's competitors
298
00:17:26,003 --> 00:17:27,754
at rock bottom prices.
299
00:17:29,841 --> 00:17:32,175
- There are many people
who either work
300
00:17:32,260 --> 00:17:35,262
for Carnegie knew how to make
steel, could figure out,
301
00:17:35,346 --> 00:17:37,639
well if I could raise a
little bit of money
302
00:17:37,724 --> 00:17:40,100
maybe I could start my own
steel company and price it
303
00:17:40,184 --> 00:17:42,477
just a little bit lower
than Carnegie.
304
00:17:42,562 --> 00:17:43,311
And guess what?
305
00:17:43,354 --> 00:17:46,064
Customers will come to
me to buy their steel.
306
00:17:49,235 --> 00:17:51,862
- NARRATOR: As the
competition heats up
307
00:17:51,946 --> 00:17:54,322
Carnegie's customers
begin to flee.
308
00:17:56,492 --> 00:17:58,326
The impact is devastating.
309
00:17:59,996 --> 00:18:03,415
In just months Carnegie's
profits begin to crater.
310
00:18:07,712 --> 00:18:09,963
Sensing weakness
Rockefeller devises
311
00:18:10,047 --> 00:18:11,506
a daring scheme.
312
00:18:13,551 --> 00:18:15,761
He's going to build
a steel plant.
313
00:18:15,845 --> 00:18:19,014
One to rival anything
Andrew Carnegie has ever built.
314
00:18:22,685 --> 00:18:25,479
But Carnegie knows he
can't let that happen.
315
00:18:26,397 --> 00:18:28,732
- Carnegie is determined
316
00:18:28,816 --> 00:18:31,276
that nobody is going
to take his place.
317
00:18:31,861 --> 00:18:33,653
He's going to
build new plants,
318
00:18:33,738 --> 00:18:36,573
he's going to destroy--
if Rockefeller goes
319
00:18:36,657 --> 00:18:38,742
into steel he'll destroy him.
320
00:18:42,789 --> 00:18:44,664
Carnegie calls a meeting.
321
00:18:44,749 --> 00:18:47,334
Hoping to intimidate
Rockefeller into staying
322
00:18:47,418 --> 00:18:49,169
out of the steel business.
323
00:18:51,589 --> 00:18:53,673
But Rockefeller didn't
become the richest man
324
00:18:53,758 --> 00:18:57,093
in American history by
cowering in fear.
325
00:19:00,264 --> 00:19:01,848
- CARNEGIE: Mr.
Rockefeller.
326
00:19:01,933 --> 00:19:03,683
- ROCKEFELLER:
Mr. Carnegie.
327
00:19:13,611 --> 00:19:15,779
- You don't want to
negotiate with me.
328
00:19:16,614 --> 00:19:18,240
I am a great negotiator.
329
00:19:18,616 --> 00:19:20,450
I know I
intimidate people.
330
00:19:20,535 --> 00:19:21,660
I understand that.
331
00:19:21,744 --> 00:19:23,870
I get it, and I
understand why,
332
00:19:23,955 --> 00:19:26,414
and I don't want to
intimidate anybody,
333
00:19:26,499 --> 00:19:28,375
unless they
try to hurt me.
334
00:19:28,459 --> 00:19:29,960
Then I hurt them back.
335
00:19:31,963 --> 00:19:35,048
- NARRATOR: Their rivalry
has lasted for decades
336
00:19:35,132 --> 00:19:38,426
but now--for the first
time ever--Carnegie
337
00:19:38,511 --> 00:19:41,137
and Rockefeller are
locking horns directly.
338
00:19:44,308 --> 00:19:48,562
The negotiations last for
months and neither man
339
00:19:48,646 --> 00:19:50,438
is willing to give in.
340
00:19:51,148 --> 00:19:52,941
- Negotiating
is a real art.
341
00:19:53,734 --> 00:19:56,862
It's an art and a
great negotiator,
342
00:19:56,946 --> 00:20:00,073
is like a great surgeon, and
the--they're very, very rare.
343
00:20:00,157 --> 00:20:01,575
You don't see it often.
344
00:20:02,493 --> 00:20:05,704
- NARRATOR: Rockefeller has
already made a fortune in oil.
345
00:20:05,788 --> 00:20:07,247
His investment
in steel
346
00:20:07,331 --> 00:20:09,791
is just a small part
of his portfolio.
347
00:20:11,252 --> 00:20:13,587
- CARLY FIORINA: You have
to be willing to walk away.
348
00:20:13,671 --> 00:20:15,589
You have to be
willing to walk away.
349
00:20:15,673 --> 00:20:19,134
And people who won't
walk away from a deal,
350
00:20:19,218 --> 00:20:21,303
in my experience, end
up making bad deals.
351
00:20:21,387 --> 00:20:25,849
- NARRATOR: Carnegie knows
he has little choice.
352
00:20:28,185 --> 00:20:31,104
In order to stay on top,
he needs to do whatever
353
00:20:31,188 --> 00:20:35,442
it takes to keep
Rockefeller out of steel.
354
00:20:38,195 --> 00:20:41,031
- CARNEGIE: I will buy
the entire output of your mines.
355
00:20:42,575 --> 00:20:46,620
In return, you will
renounce your decision
356
00:20:46,704 --> 00:20:48,371
to construct a steel mill.
357
00:20:54,211 --> 00:20:55,545
- ROCKEFELLER: Agreed.
358
00:21:01,552 --> 00:21:03,345
- They both knew that at
some point they would have
359
00:21:03,429 --> 00:21:07,182
to reach a deal in which neither
got everything he wanted.
360
00:21:07,266 --> 00:21:09,643
But neither got
destroyed in the process.
361
00:21:09,727 --> 00:21:12,062
Rockefeller and
Carnegie, in the end,
362
00:21:12,146 --> 00:21:15,815
were smart enough to know
that they were both
363
00:21:15,900 --> 00:21:19,027
too big to get into a battle.
364
00:21:21,572 --> 00:21:24,157
- NARRATOR: The agreement
is one of the most satisfying
365
00:21:24,241 --> 00:21:25,742
of Rockefeller's career.
366
00:21:27,078 --> 00:21:29,496
He's forced his biggest
rival to hand over
367
00:21:29,580 --> 00:21:34,834
a fortune in exchange for an
iron ore mine he never had
368
00:21:34,919 --> 00:21:37,087
much interest in owning.
369
00:21:41,133 --> 00:21:43,093
Rockefeller may have
gotten the better
370
00:21:43,177 --> 00:21:46,972
of Carnegie but their deal
has drawn the attention
371
00:21:47,056 --> 00:21:52,060
of another rival who
envisions something even bigger.
372
00:21:59,276 --> 00:22:02,737
America has expanded more
in the last three decades
373
00:22:02,822 --> 00:22:05,198
than any country on Earth.
374
00:22:06,826 --> 00:22:09,244
Covering the breadth
of the continent,
375
00:22:09,328 --> 00:22:11,621
its prosperity
is built on oil,
376
00:22:11,706 --> 00:22:14,624
steel and electricity.
377
00:22:17,586 --> 00:22:23,591
John D. Rockefeller, Andrew
Carnegie and J.P. Morgan
378
00:22:24,802 --> 00:22:27,095
amassed
mind-boggling fortunes
379
00:22:28,305 --> 00:22:29,806
and became targets.
380
00:22:30,850 --> 00:22:34,102
But after teaming up to put
their man in the White House,
381
00:22:36,731 --> 00:22:39,315
they're now free
to do whatever they want.
382
00:22:41,902 --> 00:22:44,571
- Every great business
leader I've ever met,
383
00:22:44,655 --> 00:22:47,407
in addition to being
very smart, very driven,
384
00:22:47,491 --> 00:22:49,200
they have this
"Why not me?
385
00:22:49,285 --> 00:22:51,077
Screw it. I deserve it.
Let's go."
386
00:22:51,162 --> 00:22:54,372
And if you don't have that you
can't achieve greatness.
387
00:22:56,000 --> 00:22:57,250
- NARRATOR: J.P. Morgan
388
00:22:57,334 --> 00:23:00,045
has risen to power
by consolidating broken
389
00:23:00,129 --> 00:23:03,006
industries and
eliminating competition,
390
00:23:04,508 --> 00:23:06,801
and after Carnegie's deal
with Rockefeller,
391
00:23:09,847 --> 00:23:12,640
he sees the potential to
apply his model
392
00:23:12,725 --> 00:23:14,476
to the steel business.
393
00:23:15,519 --> 00:23:19,773
- Morgan had much more
power than he had wealth
394
00:23:19,857 --> 00:23:24,778
and he understood that he
could have more influence
395
00:23:24,862 --> 00:23:27,238
over the economy
than Rockefeller,
396
00:23:27,323 --> 00:23:30,658
than Carnegie, than
just about anybody else.
397
00:23:31,952 --> 00:23:36,289
And he used this to pursue his
vision of the American economy.
398
00:23:38,292 --> 00:23:41,878
- NARRATOR: Morgan's years
of deal making have left
399
00:23:41,962 --> 00:23:44,297
him with a controlling
interest in companies
400
00:23:44,381 --> 00:23:48,009
ranging from
manufacturing, to mining,
401
00:23:48,385 --> 00:23:49,552
to railroads.
402
00:23:50,971 --> 00:23:56,392
One industry brings all
those others together--steel.
403
00:24:00,606 --> 00:24:04,943
- J.P. Morgan believes
that some individual
404
00:24:05,903 --> 00:24:11,241
has to bring sense and has
to bring order to American
405
00:24:11,325 --> 00:24:12,367
capitalism.
406
00:24:14,286 --> 00:24:19,415
Morgan wants to end the
cutthroat competition in steel
407
00:24:21,085 --> 00:24:24,420
and the only way
to do that is to bring
408
00:24:24,505 --> 00:24:28,800
together the competitors
into one new company.
409
00:24:30,219 --> 00:24:33,012
- NARRATOR: If Morgan
can consolidate steel,
410
00:24:33,097 --> 00:24:35,431
he could potentially
create the largest
411
00:24:35,516 --> 00:24:37,475
corporate empire
in the world.
412
00:24:39,353 --> 00:24:41,479
But do to that, J.P. Morgan
413
00:24:41,564 --> 00:24:43,481
will need to pull
off his biggest
414
00:24:43,566 --> 00:24:48,403
and most daring move yet--
a complete takeover
415
00:24:48,487 --> 00:24:50,989
ofAndrew Carnegie's empire.
416
00:24:54,201 --> 00:24:56,619
Morgan's timing
is impeccable.
417
00:24:57,705 --> 00:25:01,583
Carnegie, after years
of bruising battles,
418
00:25:02,626 --> 00:25:04,919
is questioning his future.
419
00:25:11,802 --> 00:25:14,554
- Carnegie knew that as
long as he wanted to,
420
00:25:14,638 --> 00:25:18,766
he could continue to
reign supreme in steel.
421
00:25:20,102 --> 00:25:22,937
He didn't know that he
wanted to keep fighting
422
00:25:23,022 --> 00:25:24,439
for the rest of his life.
423
00:25:26,317 --> 00:25:28,568
- NARRATOR: Morgan knows
424
00:25:28,652 --> 00:25:30,778
he can't go after
Carnegie directly.
425
00:25:31,530 --> 00:25:33,114
He needs another way in.
426
00:25:33,991 --> 00:25:36,659
So he sets up a meeting
with Carnegie's right-hand
427
00:25:36,744 --> 00:25:38,536
man, Charles Schwab.
428
00:25:47,004 --> 00:25:49,172
- How long have your
worked for Carnegie?
429
00:25:49,506 --> 00:25:50,924
- Over 1 5 years.
430
00:25:52,635 --> 00:25:54,510
- I guess he'd hate
it if you left.
431
00:25:55,930 --> 00:25:57,347
- No one is indispensable.
432
00:25:58,015 --> 00:25:59,933
- You've doubled profits
at Carnegie Steel every
433
00:26:00,017 --> 00:26:01,476
year for the past 5 years.
434
00:26:03,395 --> 00:26:04,854
- Times have been good.
435
00:26:04,939 --> 00:26:06,564
Carnegie is a
very easy boss.
436
00:26:07,233 --> 00:26:09,150
- What if you were
your own boss?
437
00:26:10,319 --> 00:26:11,319
- Of what?
438
00:26:12,196 --> 00:26:14,155
- I am going to
buy Carnegie Steel.
439
00:26:14,865 --> 00:26:17,116
And you are going
to be President
440
00:26:17,201 --> 00:26:18,993
of the world's largest company.
441
00:26:20,246 --> 00:26:22,121
- With all due
respect, Mr. Morgan,
442
00:26:22,206 --> 00:26:24,624
Carnegie would kill
your idea at birth.
443
00:26:25,084 --> 00:26:26,709
Carnegie would never sell.
444
00:26:27,753 --> 00:26:29,420
- Everyone has
their price.
445
00:26:30,798 --> 00:26:33,007
You just have to
find out what it is.
446
00:26:50,526 --> 00:26:51,359
CARNEGIE: Did you
know, Charles,
447
00:26:51,443 --> 00:26:53,945
that the game of golf
was invented in Scotland?
448
00:26:54,029 --> 00:26:55,029
- I did not.
449
00:26:55,572 --> 00:26:57,699
So, do they treat you like
a king when you return
450
00:26:57,783 --> 00:26:58,992
home to Scotland?
451
00:26:59,076 --> 00:27:00,535
- I suppose they do.
452
00:27:02,538 --> 00:27:05,665
- And then you came to
America and became a king--
453
00:27:05,749 --> 00:27:06,874
of industry.
454
00:27:07,751 --> 00:27:09,377
You created your
own destiny.
455
00:27:11,255 --> 00:27:13,131
- Destiny is not a
matter of chance.
456
00:27:13,215 --> 00:27:14,674
It's a matter of choice.
457
00:27:15,801 --> 00:27:16,759
- Exactly.
458
00:27:18,762 --> 00:27:20,013
Quote from Shakespeare?
459
00:27:20,097 --> 00:27:20,972
- No.
460
00:27:21,557 --> 00:27:23,433
William Jennings
Bryan said it.
461
00:27:24,768 --> 00:27:27,520
And we three kings of
industry have robbed him
462
00:27:27,604 --> 00:27:28,813
of his destiny.
463
00:27:28,897 --> 00:27:30,440
- Yeah.
For the greater good.
464
00:27:30,524 --> 00:27:31,858
To create more wealth.
465
00:27:32,568 --> 00:27:35,486
- Only if that wealth is
used for the benefit of mankind.
466
00:27:37,197 --> 00:27:40,283
- You know, if you were
to sell Carnegie Steel,
467
00:27:40,367 --> 00:27:43,494
you could spend the rest
of your life benefiting mankind.
468
00:27:45,039 --> 00:27:48,416
- Alas, there is not one
person in the world
469
00:27:48,500 --> 00:27:50,960
with enough money to
buy Carnegie Steel.
470
00:27:52,129 --> 00:27:53,588
- Save J.P. Morgan.
471
00:27:58,510 --> 00:28:00,678
Supposing Morgan
did want to buy.
472
00:28:02,431 --> 00:28:04,140
What would be your price?
473
00:28:12,441 --> 00:28:16,277
- Carnegie wasn't gonna do any
price haggling with Morgan.
474
00:28:16,653 --> 00:28:19,530
Carnegie writes done four
hundred and eighty million
475
00:28:19,615 --> 00:28:21,032
on a piece of paper.
476
00:28:21,450 --> 00:28:24,035
It's the equivalent of
four hundred billion today.
477
00:28:24,119 --> 00:28:26,746
More than Gates and
Buffet together.
478
00:28:28,082 --> 00:28:29,874
NARRATOR: Carnegie
has dared J.P. Morgan
479
00:28:29,958 --> 00:28:32,293
to buy him out
for an outrageous price.
480
00:28:34,380 --> 00:28:37,256
A sum that is higher
than the entire budget
481
00:28:37,341 --> 00:28:39,467
of the U.S. Federal Government.
482
00:28:47,434 --> 00:28:48,935
- I have a price.
483
00:29:02,491 --> 00:29:04,951
- NARRATOR: America
is on the move.
484
00:29:05,035 --> 00:29:07,745
After decades of
unprecedented growth,
485
00:29:07,830 --> 00:29:10,206
the country has emerged
as one of the leading
486
00:29:10,290 --> 00:29:12,333
industrial powers
in the world.
487
00:29:14,628 --> 00:29:18,089
J.P. Morgan has consolidated
business for years
488
00:29:18,549 --> 00:29:22,677
and now he's set his sights on
Andrew Carnegie's steel empire.
489
00:29:23,804 --> 00:29:28,599
Hoping to take it over
and create a monopoly in steel.
490
00:29:30,185 --> 00:29:33,729
But Carnegie has spent
a lifetime building his company,
491
00:29:33,814 --> 00:29:35,648
rising from
nothing to become
492
00:29:35,732 --> 00:29:38,443
one of the most powerful
men in America.
493
00:29:39,403 --> 00:29:43,531
Convincing him to sell
will take an astronomical
494
00:29:43,615 --> 00:29:44,866
amount of money.
495
00:29:54,251 --> 00:29:55,710
- I have a price.
496
00:30:05,512 --> 00:30:07,680
- Have Carnegie
come and meet me.
497
00:30:10,142 --> 00:30:11,893
Tell him the answer's yes.
498
00:30:28,494 --> 00:30:30,244
- CARNEGIE: I believe
that's the earliest
499
00:30:30,329 --> 00:30:32,914
in the day that I've ever
drunk champagne.
500
00:30:34,833 --> 00:30:36,709
- Congratulations,
Carnegie.
501
00:30:37,169 --> 00:30:39,629
You're now the richest
man in the world.
502
00:30:40,756 --> 00:30:42,882
- Would you have
said yes, Morgan,
503
00:30:42,966 --> 00:30:45,218
if I had asked for
$100 million more?
504
00:30:47,262 --> 00:30:48,763
- Goodbye, Carnegie.
505
00:30:57,648 --> 00:31:01,651
- NARRATOR: For 30 years
Andrew Carnegie
506
00:31:01,735 --> 00:31:05,738
has battled John D. Rockefeller
for the title
507
00:31:05,822 --> 00:31:07,782
ofAmerica's richest man
508
00:31:09,034 --> 00:31:11,744
and now he's finally
surpassed him.
509
00:31:13,705 --> 00:31:16,499
The deal gives Carnegie a
personal net worth
510
00:31:16,583 --> 00:31:20,127
of $310 billion dollars
in today's money.
511
00:31:21,380 --> 00:31:24,340
The largest private
fortune the modern world
512
00:31:24,424 --> 00:31:25,633
has ever seen.
513
00:31:34,851 --> 00:31:39,313
- Initially there is
this enormous let down.
514
00:31:40,649 --> 00:31:44,777
He can't quite believe now
that he has no connection
515
00:31:44,861 --> 00:31:46,862
with Pittsburgh
or his mills.
516
00:31:47,364 --> 00:31:49,574
That there is no
Carnegie Steel anymore
517
00:31:49,658 --> 00:31:53,286
and I think it's hard for him
to get used to that.
518
00:31:55,247 --> 00:31:59,083
- If somebody accepts
the ask too quickly,
519
00:31:59,167 --> 00:32:02,545
then you think there
was more room there.
520
00:32:03,046 --> 00:32:05,172
But I never like
to look back.
521
00:32:05,799 --> 00:32:07,842
I'm a very forward
thinking person
522
00:32:07,926 --> 00:32:11,053
and a very positive thinking
person, and the transactions
523
00:32:11,138 --> 00:32:13,848
that I did, or did not do,
I very rarely have
524
00:32:13,932 --> 00:32:15,683
any remorse over a situation.
525
00:32:16,268 --> 00:32:17,351
I like to move on.
526
00:32:22,274 --> 00:32:27,194
- NARRATOR: J.P. Morgan calls
his new company, U.S. Steel.
527
00:32:27,279 --> 00:32:30,865
It's instantly the biggest
corporation in the world.
528
00:32:31,158 --> 00:32:34,201
The first company in
history to be worth more
529
00:32:34,286 --> 00:32:38,748
than 1 billion dollars and
it will dominate the steel
530
00:32:38,832 --> 00:32:41,417
business for
almost 100 years,
531
00:32:41,501 --> 00:32:43,586
virtually unchallenged.
532
00:32:45,464 --> 00:32:47,506
But the creation
of U.S. Steel
533
00:32:47,591 --> 00:32:51,260
is only possible in this
new era of unchecked monopolies.
534
00:32:53,263 --> 00:32:56,265
An era Morgan helped
create when he and his rivals
535
00:32:56,350 --> 00:32:58,684
put their President
in the White House.
536
00:33:06,109 --> 00:33:08,444
They may have helped
to buy the President,
537
00:33:08,528 --> 00:33:11,155
but they can't avoid
politics forever.
538
00:33:12,199 --> 00:33:13,908
Their power over
the nation's biggest
539
00:33:13,992 --> 00:33:16,285
industries soon catches
the attention
540
00:33:16,370 --> 00:33:20,456
of an emerging politician,
Theodore Roosevelt.
541
00:33:22,000 --> 00:33:26,712
- Roosevelt was the kind
of figure that had to dominate,
542
00:33:26,797 --> 00:33:29,006
had to, in
a sense, own the room.
543
00:33:35,681 --> 00:33:38,933
- NARRATOR: Roosevelt is
from a wealthy New York
544
00:33:39,017 --> 00:33:41,977
family and could have
become a businessman like
545
00:33:42,062 --> 00:33:46,232
Carnegie or Rockefeller,
but he took a different path.
546
00:33:47,359 --> 00:33:51,445
Foregoing a career in
business for one in politics.
547
00:33:53,949 --> 00:33:56,784
But the young Roosevelt
had an image problem.
548
00:33:57,202 --> 00:34:00,287
His fancy clothes and
upper class demeanor
549
00:34:00,372 --> 00:34:02,164
left him open to ridicule.
550
00:34:04,042 --> 00:34:06,669
He took great pains to
remake his image
551
00:34:08,004 --> 00:34:11,048
posing in a New York City
photography studio dressed
552
00:34:11,133 --> 00:34:15,469
as a Badlands hunter with
a $500 engraved silver
553
00:34:15,554 --> 00:34:17,805
hunting knife
from Tiffany's.
554
00:34:18,473 --> 00:34:21,559
The images help Roosevelt
transform himself
555
00:34:21,643 --> 00:34:24,854
from a wealthy New York
aristocrat into a man
556
00:34:24,938 --> 00:34:26,188
of the people.
557
00:34:26,857 --> 00:34:29,024
And, as Roosevelt
enlists in the army,
558
00:34:30,026 --> 00:34:32,778
the image he manufactured
becomes real.
559
00:34:34,740 --> 00:34:36,532
- HW BRANDS: Theodore
Roosevelt became a hero
560
00:34:36,616 --> 00:34:38,534
during the
Spanish-American war.
561
00:34:39,369 --> 00:34:42,329
And the republican boss
of New York state
562
00:34:42,414 --> 00:34:44,957
said to Theodore Roosevelt,
"you're my boy."
563
00:34:45,041 --> 00:34:48,002
Got him the Republican
nomination and by virtue
564
00:34:48,086 --> 00:34:51,547
of his heroism became
New York Governor.
565
00:34:52,799 --> 00:34:54,800
Roosevelt quickly
demonstrated
566
00:34:54,885 --> 00:34:56,552
an independent streak.
567
00:34:56,636 --> 00:34:59,388
Roosevelt could not
be manipulated at all.
568
00:35:01,057 --> 00:35:03,017
- NARRATOR: As
Governor of New York,
569
00:35:03,101 --> 00:35:06,395
Roosevelt passes laws
clamping down on big business.
570
00:35:08,565 --> 00:35:10,024
His biggest targets are
571
00:35:10,108 --> 00:35:12,401
the nation's most powerful
monopolies
572
00:35:14,279 --> 00:35:16,447
and the men behind them.
573
00:35:18,492 --> 00:35:22,244
But Rockefeller and Morgan know
they can't buy Roosevelt
574
00:35:23,622 --> 00:35:26,540
so they set out to make him
as weak as possible.
575
00:35:28,919 --> 00:35:31,796
- One way to figure out
how to keep Roosevelt
576
00:35:31,880 --> 00:35:34,924
from becoming a major figure
at the national level
577
00:35:35,342 --> 00:35:37,384
is to make him Vice President.
578
00:35:37,469 --> 00:35:40,596
Because the Vice President
doesn't really have much to do.
579
00:35:42,015 --> 00:35:44,683
- NARRATOR: Heading into
a new election year
580
00:35:44,768 --> 00:35:46,852
it's a rematch of 1896.
581
00:35:47,562 --> 00:35:50,022
McKinley versus
William Jennings Bryan.
582
00:35:50,607 --> 00:35:52,942
Through a series
of backroom deals,
583
00:35:53,026 --> 00:35:55,236
some of the nation's
richest and most powerful
584
00:35:55,320 --> 00:35:58,614
men convince McKinley
to put Roosevelt on the ticket.
585
00:35:59,324 --> 00:36:01,116
- The vice presidency,
in those days,
586
00:36:01,201 --> 00:36:04,245
was a place where people
went to disappear.
587
00:36:04,329 --> 00:36:05,454
They became
vice president,
588
00:36:05,539 --> 00:36:06,747
were never heard
from again.
589
00:36:06,832 --> 00:36:09,458
It was almost like a modern
witness protection program.
590
00:36:11,586 --> 00:36:13,254
- NARRATOR: McKinley
is re-elected
591
00:36:13,338 --> 00:36:17,842
by a comfortable margin and
Roosevelt is sworn in
592
00:36:17,926 --> 00:36:19,593
as Vice President.
593
00:36:21,680 --> 00:36:24,306
With their man still
in the White House
594
00:36:24,391 --> 00:36:27,059
and their nemesis in a
powerless position,
595
00:36:29,437 --> 00:36:31,021
Rockefeller and
Morgan think
596
00:36:31,106 --> 00:36:33,148
they have protected
their empires.
597
00:36:34,985 --> 00:36:36,735
But their clever ploy
598
00:36:39,155 --> 00:36:40,322
may backfire.
599
00:36:50,375 --> 00:36:53,961
President William McKinley
is re-elected to a second term
600
00:36:55,213 --> 00:36:58,257
and Aspiring trust
buster Theodore Roosevelt
601
00:36:58,341 --> 00:37:00,342
is installed as
Vice President.
602
00:37:00,844 --> 00:37:03,721
A clever play to
silence his influence.
603
00:37:04,890 --> 00:37:07,766
With McKinley in office
for another four years,
604
00:37:07,851 --> 00:37:09,935
John Rockefeller and J.P.
Morgan
605
00:37:10,020 --> 00:37:12,688
have the freedom
to expand their empires
606
00:37:12,772 --> 00:37:14,523
to unprecedented heights.
607
00:37:17,193 --> 00:37:21,030
In September of 1901
President McKinley travels
608
00:37:21,114 --> 00:37:25,284
to Buffalo to give a speech
heralding America's prosperity.
609
00:37:26,995 --> 00:37:29,538
But that prosperity
hasn't reached everyone.
610
00:37:30,415 --> 00:37:35,252
Many are still struggling
to survive and they're fed up
611
00:37:35,337 --> 00:37:38,797
with McKinley's close
relationship with big business.
612
00:37:51,394 --> 00:37:54,605
Leon Czolgosz is a
former factory worker
613
00:37:57,233 --> 00:38:00,069
who recently lost his
job at a company J.P. Morgan
614
00:38:00,153 --> 00:38:04,031
took over during
the creation of U.S. Steel.
615
00:38:06,701 --> 00:38:10,037
As Czolgosz struggled, he
took refuge
616
00:38:10,121 --> 00:38:12,414
in the growing
anarchist movement.
617
00:38:13,959 --> 00:38:16,168
He became convinced that
the Government is helping
618
00:38:16,252 --> 00:38:18,003
the rich exploit the poor
619
00:38:20,298 --> 00:38:23,258
and he's determined
to put an end to it.
620
00:38:59,629 --> 00:39:00,921
- (gun fires)
621
00:39:06,094 --> 00:39:08,762
- NARRATOR: Eight days
after the shooting,
622
00:39:08,847 --> 00:39:13,600
William McKinley succumbs
to his injuries becoming
623
00:39:13,685 --> 00:39:17,354
the third American President to
be killed in office.
624
00:39:20,817 --> 00:39:23,152
For America's
most powerful men,
625
00:39:23,236 --> 00:39:25,404
it's the worst
case scenario.
626
00:39:25,488 --> 00:39:29,283
An assassin's bullet has robbed
them of their president,
627
00:39:29,367 --> 00:39:31,952
a man they
spent millions to get elected
628
00:39:33,038 --> 00:39:36,582
and with his death their worst
enemy comes to power.
629
00:39:39,377 --> 00:39:41,628
Teddy Roosevelt is
about to become
630
00:39:41,713 --> 00:39:43,714
the leader of the free world.
631
00:39:58,772 --> 00:40:01,607
- Mr. Roosevelt.
Very good to meet you, Sir.
632
00:40:02,150 --> 00:40:05,486
- The plan of having
Roosevelt buried,
633
00:40:05,570 --> 00:40:07,529
in effect, in the vice
presidency completely
634
00:40:07,614 --> 00:40:09,990
backfired because who
could've predicted
635
00:40:10,075 --> 00:40:11,200
what would happen?
636
00:40:11,284 --> 00:40:12,785
And what would
happen so quickly
637
00:40:12,869 --> 00:40:14,995
after the election of the 1900.
638
00:40:15,080 --> 00:40:18,123
- Theodore Roosevelt,
raise your right hand.
639
00:40:18,208 --> 00:40:21,627
Do you, Theodore Roosevelt
solemnly swear that you
640
00:40:21,711 --> 00:40:24,046
will faithfully execute
the office
641
00:40:24,130 --> 00:40:26,799
of President
of the United States.
642
00:40:27,801 --> 00:40:29,885
And to the best of
your ability,
643
00:40:29,969 --> 00:40:32,638
preserve,
protect and defend
644
00:40:32,722 --> 00:40:36,225
the constitution
of the United States.
645
00:40:36,309 --> 00:40:38,977
- ROOSEVELT:
And thus, I swear!
646
00:40:41,606 --> 00:40:43,607
Now. Let's get started.
647
00:40:44,943 --> 00:40:46,235
- Started. Yes.
648
00:40:47,445 --> 00:40:50,989
- Roosevelt insisted
that the big capitalists
649
00:40:51,074 --> 00:40:54,368
recognize that they
were mere capitalists.
650
00:40:54,452 --> 00:40:56,870
And that the elected
officials of the country,
651
00:40:56,955 --> 00:40:59,623
were the ones that
the people had chosen.
652
00:40:59,707 --> 00:41:02,876
Nobody elected J.P. Morgan
to anything.
653
00:41:04,129 --> 00:41:06,672
Nobody elected John D.
Rockefeller to anything.
654
00:41:07,465 --> 00:41:10,425
But the people had,
well, indirectly elected
655
00:41:10,510 --> 00:41:12,052
Theodore Roosevelt
President and he was going
656
00:41:12,137 --> 00:41:13,345
to make the most of it.
657
00:41:17,183 --> 00:41:19,268
- Roosevelt quickly
launches a campaign
658
00:41:19,352 --> 00:41:24,565
against the nation's largest
trusts and his first target
659
00:41:24,649 --> 00:41:28,777
is a railroad conglomerate
owned by J.P. Morgan.
660
00:41:29,988 --> 00:41:32,364
- Morgan demanded to
see the President.
661
00:41:32,448 --> 00:41:34,867
So he stormed down from
New York to Washington,
662
00:41:34,951 --> 00:41:36,368
went into the White House.
663
00:41:36,452 --> 00:41:38,412
And he said, I don't
understand, he said,
664
00:41:38,496 --> 00:41:41,290
if we got a problem, send
your man to my man
665
00:41:41,374 --> 00:41:42,708
and they'll fix it up.
666
00:41:42,792 --> 00:41:43,959
And Roosevelt said,
667
00:41:44,043 --> 00:41:46,420
"This is exactly
the problem with Morgan.
668
00:41:46,504 --> 00:41:50,591
He acts as though I'm
just a rival boss or something."
669
00:41:50,675 --> 00:41:53,677
And Morgan, who thought
that he could manipulate
670
00:41:53,761 --> 00:41:55,929
Roosevelt, discovered that
Roosevelt could not be
671
00:41:56,014 --> 00:41:57,389
manipulated at all.
672
00:41:58,141 --> 00:42:01,435
- NARRATOR: Roosevelt refuses
to back down from Morgan.
673
00:42:01,519 --> 00:42:03,979
He sues his company
in Federal court.
674
00:42:04,898 --> 00:42:07,232
The first Government
anti-trust case
675
00:42:07,317 --> 00:42:09,234
filed against a major
corporation.
676
00:42:11,863 --> 00:42:15,199
Roosevelt goes on to win
and Morgan's railroad
677
00:42:15,283 --> 00:42:17,159
monopoly is broken up.
678
00:42:19,370 --> 00:42:22,080
It's a stunning
setback for J.P. Morgan.
679
00:42:22,165 --> 00:42:24,708
One he'll agonize
over for years
680
00:42:29,714 --> 00:42:33,675
and it's a sign of things
to come for his fellow Titans.
681
00:42:34,886 --> 00:42:37,304
Roosevelt is elected
to a second term
682
00:42:37,388 --> 00:42:39,473
and over the course of his
administration,
683
00:42:39,557 --> 00:42:41,934
he files suit against
dozens of trusts.
684
00:42:43,603 --> 00:42:45,979
It's a time of great
change for the nation.
685
00:42:47,273 --> 00:42:50,567
J.P. Morgan, John Rockefeller
and Andrew Carnegie
686
00:42:51,069 --> 00:42:54,488
suddenly find Themselves
as members of an old guard.
687
00:42:55,615 --> 00:42:58,992
Aging Titans forced
to defend their fading empires.
688
00:43:03,081 --> 00:43:04,790
But as other
monopolies fall,
689
00:43:05,667 --> 00:43:07,876
one target refuses
to go down.
690
00:43:09,796 --> 00:43:12,172
John D. Rockefeller's
Standard Oil
691
00:43:12,257 --> 00:43:13,632
had managed to hold off
692
00:43:13,716 --> 00:43:16,051
a break up over multiple
administrations.
693
00:43:17,262 --> 00:43:20,847
But Rockefeller won't
be able to hide forever.
694
00:43:26,145 --> 00:43:28,146
- Standard Oil got
the reputation
695
00:43:28,231 --> 00:43:30,482
as the most hated company
in America.
696
00:43:31,276 --> 00:43:36,738
It became literally the
symbol for big business evils.
697
00:43:38,157 --> 00:43:41,493
It was an example of big
businesses getting
698
00:43:41,577 --> 00:43:45,163
way too much power and
nothing, or no one,
699
00:43:45,248 --> 00:43:46,790
available to
restrain them.
700
00:43:47,375 --> 00:43:49,251
- NARRATOR: The Government
files Suit against
701
00:43:49,335 --> 00:43:52,170
Standard Oil--in what
promises to be the biggest
702
00:43:52,255 --> 00:43:54,881
anti-trust case of
all time--
703
00:43:57,176 --> 00:44:00,053
and the Government
is hoping their lead witness
704
00:44:00,138 --> 00:44:02,681
will be John D. Rockefeller
himself.
705
00:44:04,600 --> 00:44:09,563
The feds issue a subpoena
and Rockefeller goes on the run.
706
00:44:10,982 --> 00:44:14,276
From California, to
Maine, to Key West...
707
00:44:14,610 --> 00:44:16,445
The most powerful man
in America
708
00:44:17,655 --> 00:44:19,698
has become a fugitive
from justice.
709
00:44:20,742 --> 00:44:22,951
- He went all over the
country to escape
710
00:44:23,036 --> 00:44:25,370
being served subpoenas.
711
00:44:25,455 --> 00:44:28,332
You know, he was
constantly running from the law.
712
00:44:29,375 --> 00:44:32,753
- NARRATOR: Rockefeller
avoids the subpoenas for months.
713
00:44:32,837 --> 00:44:34,629
But life intervenes.
714
00:44:41,721 --> 00:44:44,639
His son, John Jnr., and
his wife welcome
715
00:44:44,724 --> 00:44:47,476
the first Rockefeller grandson
into the world.
716
00:44:49,062 --> 00:44:51,021
Still on the run
from the subpoena,
717
00:44:51,105 --> 00:44:54,107
Rockefeller is unable
to travel to see his grandchild
718
00:44:55,318 --> 00:44:57,486
and the
absence is unbearable.
719
00:44:58,696 --> 00:45:00,822
- DEVIL BILL: I'm
only here for one day.
720
00:45:00,907 --> 00:45:03,825
Once I'm gone I am gone
and I may not be back.
721
00:45:07,705 --> 00:45:09,122
- NARRATOR:
Rockefeller knows
722
00:45:09,207 --> 00:45:11,458
what it's like
to be abandoned...
723
00:45:11,542 --> 00:45:14,002
- DEVIL BILL: Never
trust anybody son.
724
00:45:15,505 --> 00:45:16,588
Not even me.
725
00:45:20,593 --> 00:45:22,761
- NARRATOR: And he's not
going to let this case
726
00:45:22,845 --> 00:45:24,346
tear his family apart.
727
00:45:28,476 --> 00:45:32,646
He turns himself in
agreeing to testify in court
728
00:45:32,730 --> 00:45:36,483
in defense of
Standard Oil and in defense
729
00:45:36,567 --> 00:45:40,570
of an entire way
of business he helped create.
57184
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