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Coal strike of 1902 (view source)
Revision as of 11:02, February 18, 2009
, 11:02, February 18, 2009→Federal intervention
The economics of coal revolved around two factors: most of the cost of production was wages for miners, and if the supply fell the price would shoot up because in an age before oil and electricity, there were no good substitutes. Profits were low in 1902 because of an over supply; therefore the owners welcomed a moderately long strike. They had huge stockpiles which grew in value daily. It was illegal for the owners to conspire to shut down production, but not so if the miners went on strike. The owners welcomed the strike, but they adamantly refused to recognize the union, for then it would control the coal industry.
The economics of coal revolved around two factors: most of the cost of production was wages for miners, and if the supply fell the price would shoot up because in an age before oil and electricity, there were no good substitutes. Profits were low in 1902 because of an over supply; therefore the owners welcomed a moderately long strike. They had huge stockpiles which grew in value daily. It was illegal for the owners to conspire to shut down production, but not so if the miners went on strike. The owners welcomed the strike, but they adamantly refused to recognize the union, for then it would control the coal industry.
[[Image:Coal.JPG|thumb|300px|left|TR teaches the childish coal barons a lesson; 1902 editorial cartoon]]
[[Image:Coal-TR.JPG|thumb|300px|left|TR teaches the childish coal barons a lesson; 1902 editorial cartoon]]
Roosevelt continued to try to build support for a mediated solution, persuading former President [[Grover Cleveland]] to join the commission he was creating. He also considered sending the U.S. Army to take over the coalfields; the wave of support for the strikers was alarming, and he feared that it presaged a broad public sentiment in favor of socialism.
Roosevelt continued to try to build support for a mediated solution, persuading former President [[Grover Cleveland]] to join the commission he was creating. He also considered sending the U.S. Army to take over the coalfields; the wave of support for the strikers was alarming, and he feared that it presaged a broad public sentiment in favor of socialism.