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

Commercial policy toward the america colonies, In terms of commercial polic...

In terms of commercial policy toward the america colonies A/ the British ignored the colonies prior to 1660 B/ British merchants encouraged colonial manufacturing. C/ the Britis

Why henry viii began the english reformation, Which of the following MOST e...

Which of the following MOST exactly explains why Henry VIII began the English Reformation? He converted to Protestant ideals. He wanted control of the church. He wanted to chang

American service women and russian service women, What are some similaritie...

What are some similarities and differences between American service women and Russian service women?

Which economic factors led to the great depression, Which economic factors ...

Which economic factors led to the Great Depression? underproduction, disparity of wealth, low interest rates, and low stock speculation underproduction, high consumption, low in

Spanish counterparts, Because of the differences in political, social, and ...

Because of the differences in political, social, and economic institutions established during the initial period of colonization, the British colonies in North America were better

Actions does gary daynes, Which of the following actions does Gary Daynes, ...

Which of the following actions does Gary Daynes, author of the long section on "The Political-Economic Problem," tend to favor? a. an active tariff policy, especially one designed

Presidential impoundment of funds, Presidential impoundment of funds is giv...

Presidential impoundment of funds is given as an example of a. building the power and influence of the office. b. judicial review. c. political party power. d. congressional con

Explain the main shared characteristics of new england, Write an essay mini...

Write an essay minimum 2 pages about the following question: What were the main shared characteristics of New England, the Upper and Lower South, the Backcountry, and the middle

Latin america in the current global economy, What are the contributions of ...

What are the contributions of Latin America in the current global economy?

Was slavery as practiced in the american colonies, Was slavery, as practice...

Was slavery, as practiced in the American colonies in the 17th and early 18th century, a product of racism or of other cultural, social or economic factors?

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