Part 1, Chapter 4, Section 3

The nationalization of the San Sebastián Mines and San Sebastián Railroad earlier that day (p 72 s 142) derails james Taggart’s plan to put Dagny Taggart “in her place” (p 71 s 142) at the Board of Directors Meeting. Instead, he offers unfounded consolation after the “unfortunate development” of nationalization: “I have full confidence — based on my knowledge of the inner processes shaping our foreign policy in Washington — that our government will negotiate an equitable settlement with the government of the People’s State of Mexico.”

James Taggart next takes takes credit for Dagny Taggart’s wise service and equipment cuts in anticipation of the nationalization that “saved the company many millions of dollars” (p 72 s 143). After pointing out this highlight, James Taggart states that those who “bore the major responsibility for this venture should now bear the consequences.” After suggesting a few names, James Taggart has not just shifted responsibility from himself but from those at the meeting as well: “they did not think of what they would have to do, but of what they would have to say to the men they represented. Taggart’s speech gave them what they needed.”