Wednesday, November 13, 2019

Business :: essays research papers

Businessman. Before World War I, Truman had lost money in mining and oil investments. In 1919, he and his friend Eddie Jacobson invested their savings in a men's clothing store in Kansas City. They worked hard, keeping the store open from 8 a.m. to 9 p.m., but the business failed during the severe recession that began in 1921. Truman worked about 15 years to pay the store debts. Political career Discouraged by the failure of the store, Truman decided to seek a career in politics. He received help from "Big Tom" Pendergast, the Democratic Party boss of Kansas City. Pendergast's nephew had known and admired Truman in the Army. Pendergast led one of the strongest political machines in the United States. He decided that Truman could win votes because of his farm background, his war record, and his friendly personality. County judge. Pendergast supported Truman in his campaign for election as county judge of Jackson County. This post in Missouri resembled that of county commissioner in other states. Truman won the election, and served from 1922 to 1924. He lost the 1924 election because of a split in local Democratic forces. Truman attended the Kansas City School of Law during the mid-1920's, but did not obtain a degree. He served as presiding county judge from 1926 to 1934. The Pendergast machine was notoriously dishonest, but Truman won a reputation for honesty and efficiency. He supervised new projects financed by $14 million in tax funds and bond issues. U.S. senator. In 1934, again with Pendergast's support, Truman was elected to the United States Senate. As a member of the Senate Interstate Commerce Committee, Truman directed an investigation of railroad finances. His staff found damaging evidence about many of Truman's friends in Missouri, but he ordered the investigation completed. A major result was the Transportation Act of 1940, which regulated railroad financing. Also during this time, a government study of the Pendergast political machine disclosed vote frauds and shady financial dealings. Pendergast pleaded guilty to income tax evasion, and he and many of his followers were sent to prison. The scandals did not touch Truman, but he refused to disclaim Pendergast. In 1940, Truman won reelection to the Senate. The Truman Committee. In 1940, although the United States was not formally involved in World War II, the nation's defense spending rose to huge sums. Truman realized that the defense effort created many opportunities for waste and corruption.

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