however, of the failure of this particular case, with its
spectacular features, the net result of the rebate prosecutions
was that the rebate evil was eliminated for good and all from
American railway and commercial life.

When Roosevelt demanded the "square deal" between business and
the people, he meant precisely what he said. He had no intention
of permitting justice to be required from the great corporations
without insisting that justice be done to them in turn. The most
interesting case in point was that of the Tennessee Coal and Iron
Company. To this day the action which Roosevelt took in the
matter is looked upon, by many of those extremists who can see
nothing good in "big business," as a proof of his undue sympathy
with the capitalist. But thirteen years later the United States
Supreme Court in deciding the case against the United States
Steel Corporation in favor of the Corporation, added an obiter
dictum which completely justified Roosevelt's action.

In the fall of 1907 the United States was in the grip of a
financial panic. Much damage was done, and much more was
threatened. One great New York trust company was compelled to
close its doors, and others were on the verge of disaster. One
evening in the midst of this most trying time, the President was
informed that two representatives of the United States Steel
Corporation wished to call upon him the next morning. As he was
at breakfast the next day word came to him that Judge Gary and
Mr. Frick were waiting in the Executive Office. The President
went over at once, sending word to Elihu Root, then Secretary of
State, to join him. Judge Gary and Mr. Frick informed the
President that a certain great firm in the New York financial