Industrial Boom and The "Big Five"
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| C. Brewer & Co. |
| Theo H. Davies & Co. |
| Amfac |
| Castle & Cooke |
| Alexander & Baldwin |
As a territory of the United States, sugarcane plantations gained a new infusion of investment. By getting rid of tariffs imposed on sugarcane sent to the United States, planters had more money to spend on equipment, land and labor. Increased capital resulted in increased production. Five kingdom-era corporations benefited from annexation, becoming multi-million dollar conglomerations: Castle & Cooke, Alexander & Baldwin, C. Brewer & Co., American Factors (later Amfac), Theo H. Davies & Co. Together, the five companies dominated the Hawaiian economy as the "Big Five."
The Big Five corporations together became a single dominating force in Hawaii. The companies did not compete with each other but rather cooperated to keep the prices on their goods and services—and their profits—high. Soon, the executives of the Big Five sat on each others' boards of directors. With economic power came political power over Hawaii. They often threatened the labor force to vote in their favor. Plantation managers hung pencils over voting booths. The way the pencil swayed indicated how the laborer voted. Retaliation for voting "the wrong way" was common.
The territory became an oligarchy governed by the Big Five. They backed only whites and Republicans to run the government. During the rule of the Big Five, it was almost impossible to win an election in Hawaii as a Democrat.
Read more about this topic: Territory Of Hawaii
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