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

Main events of the spanish american war, Describe the causes and main event...

Describe the causes and main events of the Spanish American War. What did the United States hope to accomplish in the war? Discuss the outcome, especially in terms of the territori

International demand for cotton, The_______ resulted from the inventions th...

The_______ resulted from the inventions that led to improvements in the textile industry and caused an increase int he international demand for cotton.

Ratified in 1870, What is this topic about because I do not understand any ...

What is this topic about because I do not understand any of it? As ratified in 1870 the____amedment prohibited any state from denying the vote to any male citizen on account of

Did the empire decline and fragment, Charlemagne did several things to make...

Charlemagne did several things to make his Carolingian Empire larger and better administered with support from both vassals and the Church. Yet, not that many years after his death

Civil war , why did lincoln write emanicipation proclamation?

why did lincoln write emanicipation proclamation?

What was the national bank, What was the National Bank? Who designed it? Wh...

What was the National Bank? Who designed it? What was its intended function? Who supported it? Why? Who was against it? Why?

Richard nixon''s overwhelming reelection in 1972, All of the following fact...

All of the following factors contributed to Richard Nixon's overwhelming reelection in 1972 except: negotiations toward an end to the war in Vietnam, Nixon's refusal to visit commu

Great awakening inspire people to challenge authority, How did the Enlighte...

How did the Enlightenment and the Great Awakening inspire people to challenge authority?

Colonized non-western countries, Is it true that imperial rule was good for...

Is it true that imperial rule was good for the colonized non-western countries because it meant things like good government, infrastructure improvements, public health, and religio

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