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PREFACE.

TO THE READER.

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OR two years past the author has awaited the auspicious

moment for presenting to the public his views upon the oppressions and abuses practiced by corporations and combinations of men who are apparently getting a controlling influence over the commerce, finances, and government of the contry. Recent action on the part of the people has convinced him that his opportunity has come, and he embraces it. He has aimed to present a true history of the operations of the different monopolies.

Since he began the preparation of his work, some events have taken place not noticed by him. Oakes Ames and James Brooks, two prominent characters among railroad men, and whom he has had occasion to name, have died. Some changes in the laws of congress have been made affecting the interests of corporations. The law requiring the secretary of the treasury to retain but one-half of the earnings from the government of the Pacific roads to apply on the interest due to government on subsidy bonds, has been repealed, and he may now retain and apply the whole amount. Suit has also been brought against the Union Pacific company because of its dishonest practices.

On the whole, however, combinations of corporations, and other rings and organizations, at war with the best interests of the people, have acquired new strength and more power within the last few months.

The reader will notice the fact, that while the author

has quoted liberally from the statutes and resolves of congress to show the great privileges and powers conferred upon railroad companies, and familiarized the reader with their financial and other transactions for a clear understanding of their manner of doing business, he has not pretended to give a full history; satisfying himself with such chapters as would place before the public the true character of these monopolies.

The author has sought to present truthful statements of matters in connection with the various interests now so hostile to the rights of the people, and he believes he has embodied the facts as they exist.

D. C. C. MUSCATINE, Iowa, July 28, 1873.

Since the publication of former editions of this work some additions have been made to the chapter on banking; on the legal tender decisions; on the control of railroad corporations; on water transportation, and a chapter added to the appendix on the financial policy of the government, as illustrated by the present crisis in monetary affairs. Of other changes introduced, an index has been prepared, a superior quality of paper is used, and the work is stereotyped.

The book is now presented to the public in the enlarged and improved form, with the hope that the efforts of the author and publishers to aid in reforming the abuses under which the country is suffering may be appreciated.

D. C. C.
September 26, 1873.

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