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

Cattle industry and mining in fueling westward expansion, How important wer...

How important were the cattle industry and mining in fueling westward expansion?

Describe and explain the evolution of american political, Describe and expl...

Describe and explain the evolution of American political thought and tactics in opposing British policies between 1754 and 1774. Why and how had the revolutionary movement brought

Outline the argument both for and against imperialism, Imperialism became a...

Imperialism became a leading but controversial topic during this time period. Outline the argument both for and against imperialism. Was imperialism un-American? Why, or why not.

Reasons for the emergence of the populist movement, What are the reasons fo...

What are the reasons for the emergence of the Populist movement in the late nineteenth century?

How to analyze primary sources, Analyze James Madison's "The Federalist, No...

Analyze James Madison's "The Federalist, No. 10." Follow the guidelines on "How to analyze primary sources" and the example provided.

Explain the slave system and slave society in the south, What were the caus...

What were the causes and consequences of the War with Mexico? Describe the slave system and slave society in the South. What were the competing visions of Thomas Jefferson an

How did the european colonial powers, How did the European colonial powers ...

How did the European colonial powers accomplish their plans in conquering Asian countries

First golden age of islam, Early Abbasid Islamic rule and civilization bega...

Early Abbasid Islamic rule and civilization began what is often known as the first Golden Age of Islam. What policies and approaches did the Abbasids use to stabilize and legitimiz

Discuss george iii''s actions and attitude towards colonies, 1. Discuss Geo...

1. Discuss George III's attitude and actions towards the colonies. 2. George III appointed General William Howe to lead the British army in the colonies. Why was Howe a good choice

Part of the angkorian empire, Which of the following modern day countries i...

Which of the following modern day countries in southeast asia has no territority that was once part of the angkorian empire? a. vietanam c. Loaos d. thailand b, the Philippines

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