A riveting narrative of Wall Street buccaneering, political intrigue, and two of American history's most colossal characters, struggling for mastery in an era of social upheaval and rampant inequality.
It seemed like no force in the world could slow J. P. Morgan's drive to power. In the summer of 1901, the financier was assembling his next mega-deal: Northern Securities, an enterprise that would affirm his dominance in America's most important industry-the railroads.
Then, a bullet from an anarchist's gun put an end to the business-friendly presidency of William McKinley. A new chief executive bounded into office: Theodore Roosevelt. He was convinced that as big business got bigger, the government had to check the influence of the wealthiest or the country would inch ever closer to collapse. By March 1902, battle lines were drawn: the government sued Northern Securities for antitrust violations. But as the case ramped up, the coal miners' union went on strike and the anthracite pits that fueled Morgan's trains and heated the homes of Roosevelt's citizens went silent. With millions of dollars on the line, winter bearing down, and revolution in the air, it was a crisis that neither man alone could solve.
Richly detailed and propulsively told, The Hour of Fate is the gripping story of a banker and a president thrown together in the crucible of national emergency even as they fought in court. The outcome of the strike and the case would change the course of our history. Today, as the country again asks whether saving democracy means taming capital, the lessons of Roosevelt and Morgan's time are more urgent than ever.
About the Author
Susan Berfield is an award-winning investigative reporter for Bloomberg Businessweek and Bloomberg News, where she has covered some of America's largest corporations. She has been interviewed on PBS NewsHour, NPR's All Things Considered, Marketplace, On Point, and elsewhere. Her research for The Hour of Fate, her first book, took her to archives in New York, St. Paul, Washington, D.C., and Cambridge, Massachusetts, and was supported by a Logan Nonfiction Fellowship. She lives in Brooklyn with her family.
Industry Reviews
“Berfield's wide-angle lens encompasses antitrust law, the details of railroad reorganization, investment banking, politics, coal mining and high living. . . . she can do a lot with only a few words.”
The Wall Street Journal
“Most authors might be content to write about either John Pierpont Morgan, possibly the world's most famous banker, or Theodore Roosevelt, one of America's best-loved presidents. But The Hour of Fate by Susan Berfield is richer for tackling them together. . . . Her book vividly brings both men to life.”
The Economist
“[The Hour of Fate] ambitiously juggles several historic threads from a turbulent time in America: soaring immigration, labor unrest in the face of low wages and dangerous conditions, the seemingly untrammeled ambitions of big business, and the clamor for public accountability and oversight . . . An engaging historical work involving truly larger-than-life American characters.”
Kirkus Reviews
“It's no easy task to write a dual biography while also incorporating the feelings and emotions of the historical moment, yet Berfield accomplishes all of this. An extremely readable work that will engage American history and business readers everywhere.”
Library Journal, starred review
