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

Compare the development of agriculture, Compare the development of agricult...

Compare the development of agriculture in the New England, mid-Atlantic and southern colonies. How did different types of farming contribute to the formation of different types of

Majority of the wealth of the byzantine empire was based, The majority of t...

The majority of the wealth of the Byzantine Empire was based on a. Tribute from neighboring states b. Military conquest of new territories c. Agriculture and trade d. Private co

Why did settlement patterns in new england changes, Why did settlement patt...

Why did settlement patterns in New England change from the 17th to the 18th century?

Political conflicts between federalists or anti-federalists, Discuss the po...

Discuss the political conflicts between Federalists and Anti-Federalists in the writing and ratification of the Constitution. Please use specific examples and include 2 specific Fe

European settlement or the founding of the united states, The United States...

The United States was united in name only." What does this mean? Can you make a connection with the statement for the history that precedes European settlement or the founding of t

Who is little big man''s adopted father or grandfather, In Little Big Man, ...

In Little Big Man, Who is Little Big Man's adopted father or grandfather? A) Shadow That Comes In Sight B) Younger Bear C) Wind in His Hair D) Old Lodge Skins

Find how many days worked every worker, A worker can finish exact work for ...

A worker can finish exact work for 15 days, other worker can finish only 75% of that work for the same time. At first the second worker worked several days and then the first one j

Major problem with the articles of confederation, What were the major probl...

What were the major problem with the Articles of Confederation and the arguments for and against replacing them with a stronger national government?

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