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

In what different ways was european colonial rule expressed, In what differ...

In what different ways was European colonial rule expressed and experienced in the Americas

Relationship between u.s. government and organizations, Describe the relati...

Describe the relationship between the U.S. government and the policing organizations throughout the United States. Explain the influence of this relationship on U.S. society as

Creation of an american empire, What arguments did Albert Beveridge make fo...

What arguments did Albert Beveridge make for the creation of an American empire?

Principle scientific movements of the seventeenth century, 1. what were the...

1. what were the principle scientific movements of the seventeenth century? 2. How are they reflected in today's understanding of the role of science in today's management and l

What were the problems and opportunities encountered, What were the problem...

What were the problems and opportunities encountered by newly independent states in the 20th Century? [please also include Central and South America in your answer]

What were the problems american universities, According to left wing radica...

According to left wing radicals of the 60s, what were the problems American universities -- and the country as a whole - faced at the time?

New age of american nationalism during this period, Aside from the Battle o...

Aside from the Battle of New Orleans what were some other events that inspired a new age of American nationalism during this period?

Why did japan win the sino-japanese war, why did japan win the Sino-Japanes...

why did japan win the Sino-Japanese war and why did china loose? compare and contrast the Tongizhi restoration and the Meiji restoration

How did colonists use class to determine status, How did colonists use clas...

How did colonists use class, race and gender to determine status in the colonies? By the end of the Salem Witch trials, who was the most powerful group in the colonies? Who was at

Why did muhammad find the religion of islam, Why did Muhammad find the reli...

Why did Muhammad find the religion of Islam. How and why was the religion able to spread so rapidly? Please discuss starting with a 10-12 sentence response.

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