Raleigh, NC – October 17, 1902, was a pivotal day in the coal trust saga. J. Pierpont Morgan, the man behind the coal operators, had been dragging his feet for months, refusing to make concessions to the striking miners. Everyone in America knew that Morgan controlled the railroads that owned mines and transported coal, giving him a tight grip on the industry. The President of the United States was forced to send Elihu Root, his trusted advisor, to Washington to beg Morgan to take action and end the strike. Morgan, the coal magnate, finally relented and traveled to the nation’s capital to meet with the President. In the end, it was the President’s importunities that pushed Morgan to act, but the question remains: why did he wait so long?
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Key Facts
- State: North Carolina
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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