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

What cultural factors contributed in the holy land, Why has the Arab-Israel...

Why has the Arab-Israeli conflict been so persistent? What religious and cultural factors have contributed to the persistent state of unrest in the Middle East, in particular, in t

Describe the rise of fascism in italy, Describe the rise of fascism in Ital...

Describe the rise of fascism in Italy.indicate the conditions present in Italy that made it possible for Mussolini to come to power. Describe Mussolini tactics against leftist. Wha

Explain the short-term significance, Take one inventor, "Captain of industr...

Take one inventor, "Captain of industry" or "robber Baron" and explain his/her long and short-term significance upon the history of this period. Address what made that person a Cap

Which statement is most true about rococo architecture, Which statement is ...

Which statement is most true about Rococo architecture? Answer: a. It was something everyone could enjoy looking at in their home b. It was a style that used straight lines as mold

United states'' military and foreign policy, How did the Cold War affect Un...

How did the Cold War affect United States' military and foreign policy?

How was the constitution less democratic, How was the Constitution less dem...

How was the Constitution less democratic than the articles of confederation and why was this the case?

Strategies in current world politics, Please respond to the following: S...

Please respond to the following: Select any two of the four basic strategies used to preserve security. Identify and describe what assumptions are made about the opponent accord

Issue advocacy advertising funds by federal law, Issue Advocacy Advertising...

Issue Advocacy Advertising funds are not regulated by federal law.

What were the more preferred methods of committing suicide, According to Do...

According to Don Wharton in his essay " Black Tuesday," what were the more preferred methods of committing suicide amongst stock brokers after the Great Crash? A) provided a mod

Presidents in us history, Why is Abraham Lincoln consistently ranked among ...

Why is Abraham Lincoln consistently ranked among our top three presidents in US history?

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