The Forty-year Run (November 1992 | Volume: 43, Issue: 7)

The Forty-year Run

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Authors: Roy Hoopes

Historic Era: Era 7: The Emergence of Modern America (1890-1930)

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November 1992 | Volume 43, Issue 7

In 1935, Fortune magazine published a profile of the Hearst empire, which said that William Randolph Hearst’s assets—28 newspapers, 13 magazines, eight radio stations, two movie companies, inestimable art treasures, real estate, 14,000 shares of the Homestake Mine, and 2,000,000 acres of land were worth $220 million.

But Fortune also noted that, because of taxes and other debits in books that it was not permitted to see, the Hearst Corporation might soon be short of cash. The taxes, of course, were imposed by that hated man in the house at 1600 Pennsylvania Avenue, Washington, D.C., for which Hearst would have gladly traded his California castle; his Bavarian Village in Wyntoon, California; his mistress Marion Davies’s beach “cottage” at Malibu; his castle at St. Donat in Wales; his Long Island estate; his New York apartment; his two cloisters from Spain; and his Brooklyn warehouse with all its treasures.

This century’s most famous newspaper publisher wasn’t really a newspaper publisher at all. He was the next president of the United States.

But Hearst never made it to the White House. President Franklin D. Roosevelt, whom perhaps only H. L. Mencken hated more than Hearst did, had laid out a tax program about which he once smiled at Secretary of the Interior Harold Ickes and said, “That is for Hearst.” Two years after the Fortune article, the Hearst Corporation did go bankrupt. Hearst had to start selling newspapers, relinquish control of what was left of his propaganda machine, and take a pay cut from $500,000,000 a year to $100,000. As his father said in 1887 when one of his employees told him that in a good year $100,000 would be about what young Willie might make from that paper he wanted to run, “Hell, that ain’t no money!”

And the question could quite rightly be asked: How had a man who had built the greatest publicity machine in history not only gone bankrupt but become so hated in his country that the Hearst Pathé News had to eliminate “Hearst” from its logo because people hissed when his name came on the screen? In 1936, the historian Charles A. Beard wrote of Hearst that “even school boys and girls by the thousands now scorn his aged image and cankered heart,” and 6000 people went to the Hippodrome Theater in New York City to stage a mass trial of Hearst, with Minnesota’s governor Hjalmar Peterson leading off by charging him with “being guilty in the first degree of attempting to destroy democracy.”

The man who has given the most thought to the career of William Randolph Hearst is W. A. Swanberg, whose monumental biography, Citizen Hearst, appeared in 1961. He surveyed all the obituaries written at the time of Hearst’s death and noted that the man baffled most of his contemporaries. “They were saying that he was great—somehow—but they could not explain why.”