Depression Growth of Moves to Curb Huge Salaries
Before The Depression and before the advent of the Roosevelt administration disclosures respecting the annual compensation of executives of large corporations were rarely made. The amount of such emoluments was usually shielded even from stockholders, and it was only as the result of an occasional court litigation or official investigation that the public obtained accurate information as to the pay of corporate officers, and then only in a particular corporation or a particular line of activity. In the prosperous days of the post-war decade, moreover, very large salaries were generally regarded as marks of success—to be commended rather than criticized.
The hard times that followed the stock-market collapse of 1929 tended to cause a change of public sentiment ...