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

Show limitations and the achievements of urban governments, What were the l...

What were the limitations and the achievements of urban governments run by ethnic political machines?

Dsecribe the shift in focus of the u.s. population, Explain the shift in fo...

Explain the shift in focus of the U.S. population away from world events after the fall of the Soviet Union and the effect it may have had on our national security. • Agree or disa

World outline maps, what major land form and body of water cover much of no...

what major land form and body of water cover much of northern south america?

How did art in rome and venice adapt, How did art in Rome and Venice adapt ...

How did art in Rome and Venice adapt and use the Roman artistic inheritance? Did they do so in similar or different fashions? Were there changes in the use of the classical inherit

What allies did america have in wwii, How did America entering World War 1 ...

How did America entering World War 1 potentially end the war? What allies did America have in WWII? How did America become a world power? What happened to America's govern

Explain franklin roosevelt''s approach, What was Franklin Roosevelt's appro...

What was Franklin Roosevelt's approach to the Great Depression? How did it involve experimentation?

What does morgan say about the prudishness, What does Morgan say about the ...

What does Morgan say about the prudishness/drabness of the Puritans?

The Western Heritage, 2. The period between 1848 - 1871 saw several governm...

2. The period between 1848 - 1871 saw several government changes in France. How were Western values expressed in the Second Republic, the Second Empire, and the Paris Commune? In y

Biblical view of war and just war theory, Which war in American history, ot...

Which war in American history, other than the American War for Independence, most closely follow the biblical view of war and just war theory?

How and why did john punch and antonio, How and why did John Punch and Anto...

How and why did John Punch and Antonio, otherwise known as Anthony Johnson, ended up differently from their role and indentured servants? How were the two unconsciously defined by

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