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

Show the rise of mass banana production, Discuss the rise of mass banana pr...

Discuss the rise of mass banana production and consumption in the Americas at the end of the nineteenth and early twentieth centuries. Why did the vast majority of American consume

Low prices for agricultural products, Show how each of these weaknesses(the...

Show how each of these weaknesses(the low prices for agricultural products and low wages for workers) contributed toward landing the US into the Great Depression?

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?

How does shen gua''s understanding of the natural world, how does shen gua'...

how does shen gua's understanding of the natural world compare to that of the early greeks?

Example of an international crime, Give one example of a transnational crim...

Give one example of a transnational crime, and one example of an international crime. explain how the facts of the case meet the definitions of transnational and international crim

Worst pollution control laws in new jersey, Mark Each sentence T (true) or ...

Mark Each sentence T (true) or F (false). - 1. In the 1960s, New Jersey enacted strict air and water pollution control laws. - 2. During the 1973-1974 gasoline crisis, New Jerse

Social fairness is a virtuous quality, 1. Since social fairness is a virtuo...

1. Since social fairness is a virtuous quality (and one of the pillars of this country's founding), explain why America did not embrace the revolutionary social theories purported

Immediate cause of the depression of 1893, Beyond the immediate cause of th...

Beyond the immediate cause of the depression of 1893, why did it create a crisis for american society ?

Was firm league of friendship sufficient to hold the us, Was the firm leagu...

Was the firm league of friendship sufficient to hold the United States together as a nation?

Development of the atomic bomb, What is the sequence of events that led to ...

What is the sequence of events that led to the development of the atomic bomb?

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