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

Colonization and settlement 1585-1763, Colonization and Settlement 1585-176...

Colonization and Settlement 1585-1763? The US History interactive timeline gives you a broad overview of the 10 eras of US History covered in this course. For more specific inf

British empire to declaring their independence, How and why did Americans m...

How and why did Americans move in 1775-1776 from fighting only for "the rights of Englishmen" within the British Empire to declaring their independence?

Region of nationalistic pressure during the 19th century, Which of the foll...

Which of the following is not a region of nationalistic pressure during the 19th century

Mexican war and manifest destiny, Abraham Lincoln and James K. Polk were co...

Abraham Lincoln and James K. Polk were contemporary voices who spoke loudly, and with some influence and controversy, on the subject of Manifest Destiny. After completing the readi

Jefferson''s criticisms about the constitution describe, What are Jefferson...

What are Jefferson's criticisms about the Constitution? Explain.

Person celebrating the chinese new year, Based on the article, which of the...

Based on the article, which of these is something a person celebrating the chinese new year might do on the last day of the year ?

Declaration of rights have on the current u.s. government, What historical ...

What historical importance did the Virginia Declaration of Rights have on the current U.S. Government?

Lowest birthrates are found mostly, The lowest birthrates are found mostly ...

The lowest birthrates are found mostly in ? 1. Western Europe 2. South Asia 3. North America 4. Africa 5. Latin America

Major weaknesses of the u.s. supreme court, What are the major strengths an...

What are the major strengths and major weaknesses of the U.S. Supreme Court policy you chose in influencing social policies in the U.S.? Answer

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