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

Explain how the discussion over gays in the military, Don't Ask, Don't Tell...

Don't Ask, Don't Tell" 1. Explain how the discussion over gays in the military in part stems from the constitutional tension between Congress's power to organize the military an

Explain the development of the atomic bomb, What is the sequence of events ...

What is the sequence of events that led to the development of the atomic bomb?

Confederation governments - which branch was most powerful, Which branch of...

Which branch of government was most powerful in Confederation governments?

History, date of birth of mahatma ghandhi.

date of birth of mahatma ghandhi.

Beginnings of american culture, McMahon: Beginnings of American Culture. De...

McMahon: Beginnings of American Culture. Describe the origins of American culture by using examples from this essay to show how our culture began.

Show the widespread atrocities on both sides, a) widespread atrocities on b...

a) widespread atrocities on both sides b) few american victories c) british indecision and inaction d) the unwillingness of indian tribes to become involved in the conflict.

Explain new world of international relation by roskin, The new world of int...

The new world of international relation by Roskin For this book can anyone tell me how to cite and how to do critical essay.

Evaluate whether this ban violates the first amendment, A state supported i...

A state supported institution, passed a College wide rule that prohibits College community rooms from being used for faith based student groups. The College justifies its rule on t

Provide the materials about the boston tea party, What is one important dis...

What is one important distinction you could not overlook making when critically evaluating the information provided in these materials about the Boston Tea Party? Clarify the impor

Describe the changes in administration, Describe the changes in administrat...

Describe the changes in administration which occurred under the second and third Russian American Company charters

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