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

Who led americans to migrate to texas in the 1830s, What led Americans to m...

What led Americans to migrate to Texas in the 1830s? a. What did they agree to do once they were there? b. Why did conflict with Mexico arise? c. What spurred the desire for Texas

Define the role of cities in building civilization, Is it possible to have ...

Is it possible to have civilization without cities? What is the role of cities in building civilization?

Show president theodore roosevelt''s attitude, Discuss President Theodore R...

Discuss President Theodore Roosevelt's attitude toward and involvement in building the Panama Canal. Include in your answer the other parties involved, and the dollar amounts that

How they changed and differ to middle colonies, Describe the early colonies...

Describe the early colonies and how they changed and differ to middle colonies.

Who was herodotus, Who was Herodotus, where was he from and why do we study...

Who was Herodotus, where was he from and why do we study him? What was his point of view on the Persians and on Greek resistance to Persia? What did he write, what was its format,

Why many american colonists joined revolutionary insurgency, by reading and...

by reading and comprehension of T.H. Breen, (American Insurgents, American Patriots,) explain why many American colonists joined the revolutionary insurgency of 1774-1775, and desc

Doves and hawks regarding u.s. presence in vietnam, What was the main diffe...

What was the main difference between Doves and Hawks regarding U.S. presence in Vietnam? A. Doves believed that the United States military should have a strong presence in Vietn

Why did westward migration expand dramatically explain, Why did westward mi...

Why did westward migration expand dramatically in the mid-nineteenth century?

Native in reservation systen in todays society, What are some advantages an...

What are some advantages and disadvantages of the American Native in reservation systen in todays society?

What was roosevelt''s court-packing scheme, What was Roosevelt's court-pack...

What was Roosevelt's court-packing scheme, why did it backfire, and what impact did it have on the New Deal?

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