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

Mesopotamia differ geographically and politically, How did Egypt and Mesopo...

How did Egypt and Mesopotamia differ geographically, politically, and religiously? In what ways were they similar? Why was religion important in both?

What were the major outcomes for native americans, What led to the "Last In...

What led to the "Last Indian Wars," and what were the major outcomes for Native Americans?

European society faced significant intellectual, During the last decades of...

During the last decades of the 19th century, European society faced significant intellectual, scientific, and cultural changes. Discuss how Robert Louis Stevenson's novel, Dr. Jeky

Successive american frontiers, What social, ethnic, environmental, and econ...

What social, ethnic, environmental, and economic factors made the trans-Mississippi West a unique region among the successive American frontiers?

Congressional reconstruction, Congressional Reconstruction ended when... ...

Congressional Reconstruction ended when... A. the Compromise of 1877 was negotiated B. the 15th Amendment was ratified C. the KKK took over the South D. the Supreme Court ignore

Christianity''s early proponents and writers, Who, after persecuting Christ...

Who, after persecuting Christians, converted and became one of Christianity's early proponents and writers? Answer Constantine Paul or Saul Origen Timothy

Write a critical book review of the book, Write a critical book review of t...

Write a critical book review of the book , The Silk Road in World History (2010) by Xinru Liu. 1.Situate the book in pertinent fields of world history rising? 2.Briefly summariz

Failure of the vietnam war, Analyze and explain the events leading to the f...

Analyze and explain the events leading to the failure of the Vietnam War. Describe the main contradictions of the Vietnam War concerning our military strategy and pacification prog

Evaluate the importance of african religion, -In a minimum of 900 words, pl...

-In a minimum of 900 words, please answer the following question- Describe and evaluate the importance of African religion prior to the arrival of Muslim and Christian missionar

What has been most powerful symbol of constructive teamwork, In your experi...

In your experience with collegiate environments to date, what has been the most powerful symbol of constructive teamwork between the administration and the faculty?

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