The Great Buggy Bailout of 1905
Saturday, December 13th, 2008What happens now that the Big 3 Auto Bailout is dead? Often, a look at our own history can shed light on the future…
Let’s take a look back at the turn of the last century, when Teddy Roosevelt tried — but couldn’t quite convince Congress and taxpayers — to hand a billion dollar bailout to the wagon and horse-drawn carriage industry.
Blacksmiths and Equestrian Real Estate Decimated
Without the bailout, thousands of blacksmiths in Cleveland alone were booted out of their shops, into the streets.
While Teddy Roosevelt tried to convince John D. Rockefeller’s Standard Oil to loan $2 billion to Cleveland’s struggling buggy industry, Rockefeller accused the industry of being short-sighted for too long, and resistant to change:
Everybody saw this coming. Why did not the horse-drawn industry adjust to the changing economic landscape? Because they’re content to be fat, dumb, and happy — resistant to innovation and reluctant to change. If, instead, the bankrupt buggy industry had any responsible leadership, they could have been producing horses that run on gasoline ten years ago!
Without Rockefeller’s support, Roosevelt let the bailout die.
Soon, the demise of horse-drawn carriages rippled through the rest of America. Blacksmiths everywhere closed up shop. Hundreds of thousands of acres of equestrian real estate were sold and turned into parking lots (save for a few counties in Kentucky.)
A Bleak America Without Buggies
In a matter of years, only a few horse-drawn carriage makers remained. With Cleveland’s great buggy assembly lines gone, only a few Amish in Pennsylvania had any horse-drawn vehicles at all. Perhaps a handful of Tennessee Mennonites, too. But, everbody else, my grandparents have told me, was soon left to walking 10 miles in the snow just to get to school.
I’m certain if Teddy Roosevelt could have seen this country’s bleak future without streets filled with horse-drawn buggies, he would have put up a tougher fight to convince the Congress to bailout the wagon and horse-drawn carriage industry. Let’s hope today’s leaders don’t make the same mistake.
Read More: Great Buggy Bailout, Teddy Roosevelt, Standard Oil, John D. Rockefeller, horseless carriages, buggies, auto bailout, big 3 auto bailout

To say that former
Monday was the deadline for former Bush advisor Karl Rove to agree to voluntarily testify under oath about his involvement in sending former Alabama Governor Don Siegelman to prison.
