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

How did reconstruction fall apart, How did Reconstruction fall apart? What ...

How did Reconstruction fall apart? What were the Slaughterhouse Cases, and what did they do? What was the election of 1876 like? What did the Compromise of 1877 do?

Encounters and transformations, Encounters and Transformations p. 340. For ...

Encounters and Transformations p. 340. For Discussion Question. What were the advantages and disadvantages of the Mongol peace for the West?

What were the artistic styles in the 18th dynasty, What were the artistic s...

What were the artistic styles in the 18th Dynasty in Ancient Egypt. Particularly Hatshepsut's and the Thutmosis'

Industrial revolution and the scientific revolution, What historical connec...

What historical connections do you see between the Industrial Revolution and the Scientific Revolution?

Describe the causes of civil war, Explain the causes of the Civil War. Thin...

Explain the causes of the Civil War. Think about the various compromises we discussed in class as well as events of the 1850s. Discuss the reasons that Southerners thought secessio

How important is it to get absolute facts in history, How important is it t...

How important is it to get the "absolute facts" in history? Do questionable stories like "Follow the Drinking Gourd" have a place in learning about history?

Describe the three main political parties, Please describe the three main p...

Please describe the three main political parties in the late 1890's, the Democrates, Republicans and Populist party. The key issues, political leaders, supporters and how successfu

How did the revolution in transportation affect, How did the revolution in ...

How did the revolution in transportation affect different social groups in the antebellum North

Role of the house un-american activities committee, What was the role of th...

What was the role of the house un-american activities committee in the eary cold war?

Capital of the angkorian empire, Which of the following modern day countrie...

Which of the following modern day countries in southeast asia was the center of and had the capital of the Angkorian Empire? a. Vietnam b. Laos C. Cambodia D. Thailand

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