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 evidence in the declaration of independence, What evidence in the decl...

What evidence in the declaration of independence helps you know why it was written? Quote from the document

The absence of literacy, Why were the Inca so successful despite the absenc...

Why were the Inca so successful despite the absence of literacy? What alternative sources of cultural unity and strength took the place of written language? Be specific. Provide ex

How did it conflict with the native american viewpoint, What term was used ...

What term was used to refer to the concept of the first born receiving the vast majority of an inheritance? Also, this concept reflected the European view that property was "privat

First battle of manassas, In 1861, the First Battle of Manassas a) saw a...

In 1861, the First Battle of Manassas a) saw a much larger Union force oppose Confederate troops. b) was a victory for the Confederates. c) ended in a stalemate. d) was

Personam jurisdiction over the case, 1.) A plaintiff cannot begin a lawsuit...

1.) A plaintiff cannot begin a lawsuit until the court finds there is a good cause for filing the suit. T/F 2.) A court that has subject matter jurisdiction over a case also has in

Difference between slaves of chesapeake region and south, The primary diffe...

The primary difference between slaves of the Chesapeake region and the Lower South was that • work in the Lower South emphasized the task system. • work in the Chesapeake region ut

Aristocracy or democracy or despotism, "As for the Roman constitution, it h...

"As for the Roman constitution, it had three elements, each of them possessing sovereign powers: and their respective share of power in the whole state had been regulated with such

Show the growing class conflict, Discuss the growing class conflict caused ...

Discuss the growing class conflict caused by industrial growth and combination, and the early efforts to alleviate it. What are the differences in public reception of veterans r

Main accomplishments that the u.s allies achieved, What were the main accom...

What were the main accomplishments that the U.S. and its allies achieved during the Second World War?

General ground for granting relief, Grounds for granting habeas corpus reli...

Grounds for granting habeas corpus relief are varied, depending on the state. A general ground for granting relief is; /a. Incompetent or ineffective counsel; /b. Knowing use by th

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