What was trust-busting, History

Assignment Help:

What was trust-busting

In the late nineteenth and early twentieth century, industrialization, urbanization, and immigration transformed the United States. Twenty-six million immigrants arrived in the U.S. between 1880 and 1920. Many of these new immigrants settled in America's cities, which became extraordinarily crowded. Industrialization grew rapidly after the Civil War until, by 1894, the United States' industrial output was larger than the output of its rivals: Britain, Germany, and France. Enormous new business corporations, such as U.S. Steel and Standard Oil, gained tremendous power in the American economy and in politics. Many Progressives were determined to curb the power of these business monopolies.

Progressivism was a mixture of religious and secular impulses. Some progressives believed in the Social Gospel, a theological movement that suggested that Christians ought to save society, not individual souls. Many progressives also accepted the new influence of social science. They were impressed that social scientists could study social problems and find solutions for those problems.

At the national level, progressivism began with the presidency of Theodore Roosevelt, who became president upon the assassination of William McKinley in 1901. Roosevelt became famous for trust-busting. This meant the use of the power of the federal government to break up trusts, corporations that had gained monopoly power in their line of business. Roosevelt enforced the Sherman Anti-Trust Act (1890), which outlawed combinations "in restraint of trade. In 1904, the administration succeeded in breaking up the Northern Securities Corporation, which controlled railroads in the Northwest. Most famously, the Roosevelt administration broke up John D. Rockefeller's Standard Oil company, which dominated petroleum production in the U.S. After years of effort, the government finally split Standard Oil into several separate companies in 1911 (after Roosevelt had left office). Roosevelt also signed the Hepburn Act (1906), which regulated railroad freight rates. Roosevelt's term was also notable for his interest in conserving America's natural resources. He protected millions of acres of land by creating new national parks and forests.


Related Discussions:- What was trust-busting

What are tenets of the american political system, What are some tenets of t...

What are some tenets of the American political system as evidenced by the early written documents of the Revolutionary era? You must state two core beliefs and two documents that r

How does work relate to sociopolitical climate of the period, Could anyone ...

Could anyone give me some websites where I can do my research paper on the comparison of David's works on Oath of the Horattii and The Coronation of Napoleon to find the answers to

General defection of obscenity, a general defection of "obscenity" includes...

a general defection of "obscenity" includes all of the following EXCEPT that it a: lacks political or scientific value b: lacks serious literary or artistic value c: appeals to pru

Relationships between early modernist art, Discuss the relationships betwee...

Discuss the relationships between early modernist art such as Cubism, Fauvism, futurism, and expressionism categories and the sociopolitical climate of the period. How did the s

The growing nation., How many states were formed when the Articles of Confe...

How many states were formed when the Articles of Confederation were approved in 1781?

What extended the 5th amendment, What extended the 5th Amendment due proces...

What extended the 5th Amendment due process clause to protect citizens not only from the national government but from their state governments? a. the Civil Rights Act of 1964

Why did the seven years war occur, Why did the Seven Years war occur? Who w...

Why did the Seven Years war occur? Who wanted to fight the war? Do you believe desertion was a problem in the British-American army? Consider the background of the soldiers, did th

Us military and foreign policy, How did US military and foreign policy play...

How did US military and foreign policy play out during the 1940s and 1950s? What were the "hot spots"?

Writing a letter to a world leader, When he was 6 years old Obi was whipped...

When he was 6 years old Obi was whipped for writing a letter to a world leader. Name that leader.

What allowed europeans to increasingly influence, What allowed Europeans to...

What allowed Europeans to increasingly influence, dominate and colonize the world after the fifteenth century? Include the key inventions and reasons of the exploration and scienti

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd