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

Types of communism held by lenin and mao zedong, Compare and contrast the t...

Compare and contrast the types of communism held by Lenin and Mao Zedong, and compare and contrast the Bolshevik Revolution with that of the Chinese Communist Revolution?

The revolution of 1800, Why did many americans call the election of 1800 "t...

Why did many americans call the election of 1800 "the Revolution of 1800" and were they correct in doing so? Explain in great detail

How did reagan survive this constitutional crisis, What was the Iran-Contra...

What was the Iran-Contra scandal, and how did Reagan survive this constitutional crisis?

What alternative paths could industrializing nations follow, One of imperia...

One of imperialism's most virulent detractors was the British economist John Hobson (1858-1940). Having observed British imperial rule in South Africa, Hobson became an early crit

Inter-religious understanding, "Inter-religious Understanding." Please resp...

"Inter-religious Understanding." Please respond to the following: Describe at least one (1) idea in the United Nations reading and Swindler reading with which you agree. Describe a

I am proud to be a japanese american-book, Explain why Yoshiko Uchida, afte...

Explain why Yoshiko Uchida, after her long "desert exile," concludes her book by proclaiming, "I am proud to be a Japanese American" (152). Analyze Uchida's experiences at Tanforan

What was "popular sovereignty"? did it succeed in kansas?, What was "popula...

What was "popular sovereignty"? Did it succeed in Kansas? In 1854, Congress again confronted the issue of slavery in the West when the Nebraska Territory was opened to settleme

Ratification convention in virginia, One prominent Virginian presented the ...

One prominent Virginian presented the Virginia Plan in the Constitutional Convention, refused to sign the Constitution once it had been completed, but then became one of its most a

How did these factors influence the outcome of the war, I need to write a 1...

I need to write a 10 page term paper on this topic: Describe the relative weaknesses and strengths of the North and South at the beginning of the Civil war. How did these factors i

Predict the change in health care costs, Recall the computer models develop...

Recall the computer models developed to predict the change in health care costs that would result if the U.S. adopted a Canadian style national health plan and the computer models

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