The History of the Standard Oil Company

The History of the Standard Oil Company is a 1904 book by journalist Ida Tarbell. It is an exposé about the Standard Oil Company, run at the time by oil tycoon John D. Rockefeller, the richest figure in American history. Originally serialized in nineteen parts in McClure's magazine, the book is a seminal example of muckraking, and inspired many other journalists to write about trusts, large businesses that (in the absence of strong antitrust laws in the 19th century) attempted to gain monopolies in various industries.

The History of the Standard Oil Company is credited with hastening the breakup of Standard Oil, which came about in 1911, when the Supreme Court of the United States found the company to be violating the Sherman Antitrust Act. The subsequent decision splintered the company into 34 "baby Standards." The value of Rockefeller's shares rose after the breakup as the new companies had a positive development on the stock exchange.[1]

The original book was a two-volume hardcover set. An abridged paperback edition was released later.

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Reactions and legacy

Public outcry erupted at the conclusion of Tarbell's 19-part exposure of Standard Oil published in McClure's, eventually resulting in the expedited breakup of Standard Oil in 1911.[2][3] Journalists, politicians, and citizens alike celebrated the accomplishments of Tarbell – a woman "outside" the inner workings of business and without significant money or influence. These reactions are immortalized in political cartoons utilizing imagery of Rockefeller's hidden agendas being demolished by investigative journalism and muckraking.[4]

Several journal and newspaper reviewers addressed The History of Standard Oil Company by praising its calmness in the face of hatred, focus on facts, and genuine exposure of the effects that greed can have on businessmen seeking success. A 1904 editorial review from The New York Times relayed the highlights of the volumes to the public, noting the diplomatic tendencies of Tarbell within her work – still widely respectful of the achievements of John D. Rockefeller but critical of Standard Oil's business strategies that were unfair and of questionable legality.[5] One review from the Economic Journal fixated on the monumental nature of Tarbell's work, stating that "it is difficult to write about Miss Tarbell's remarkable achievement without using language approaching the edge of hyperbole. So careful is she in her facts, so sane in her judgements, that she seems to have reached the high-water mark of industrial history."[6]

Though Standard Oil Company accrued more cumulative value after it was broken up, the exposure of what Tarbell described as immoral and illegal business became a striking symbol of the power of the press. As such, The History of Standard Oil Company harbors great significance as a standard-bearer of modern investigative journalism.[3]

In 1999 a jury under the aegis of the New York University's journalism department selected The History of the Standard Oil Company as the fifth best work of journalism in the United States in the 20th Century.[7] In his 2008 book Taking on the Trust: The Epic Battle of Ida Tarbell and John D. Rockefeller, Steve Weinberg described the exposure of Standard Oil as "arguably the greatest work of investigative journalism ever written".[8]

author	Ida M. Tarbell
country	United States
language	English
subject	Standard Oil Company
published	1904 McClure, Phillips and Co.
media type	Print
oclc	12591113
congress	04035331
wikisource	The History of the Standard Oil Company

The History of the Standard Oil Company

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Reactions and legacy

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