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

Lutheranism and calvinism, what were the main tenets (principles, teachings...

what were the main tenets (principles, teachings) of Lutheranism and Calvinism, and how did they differ from each other and from Catholicism?

A new view of the west, Here is the ariticle you can look from Susan Armita...

Here is the ariticle you can look from Susan Armitage, "Through Women's Eyes: A New View of the West," in Armitage and Jameson, The Women's West (University of Oklahoma Press, 1987

Latin america in the current global economy, What are the contributions of ...

What are the contributions of Latin America in the current global economy?

Hebrew reilgion, What are changes in the Hebrew religion in 600bce - 600ce

What are changes in the Hebrew religion in 600bce - 600ce

American economy in new directions, how did the events during the War of 18...

how did the events during the War of 1812 help to move the American economy in new directions after peace was restored?

Explain woman''s life easier or harder by the 1970s, Was a woman's life eas...

Was a woman's life easier or harder by the 1970s than it had been? Why or why not?

What was the main exception to this rule, In the British colonies, slaves g...

In the British colonies, slaves generally had the same status as domestic animals. What was the main exception to this rule?

Why is the writing inscribed on the ancient oracle, Why is the writing insc...

Why is the writing inscribed on the ancient oracle bones easily understood today?

What effect do you think this change, In the early 1800's the growth of ind...

In the early 1800's the growth of industrial manufacturing, especially textiles, led to a decline in household manufacturing by women. What effect do you think this change had on f

How did andrew jackson address the challenges explain, How did Andrew Jacks...

How did Andrew Jackson address the challenges from South Carolina in the Nullification Crisis of 1830-1832? Also, How did James Buchanan address the challenges from South Car

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