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

Development of art and architecture, The Indus Valley Civilization was famo...

The Indus Valley Civilization was famous for (a) Well-planned cities (b) Efficient civil organization (c) Development of Art and Architecture (d) All of these

Politics, what did the framers do wrong in the constitution?

what did the framers do wrong in the constitution?

Compare and contrast arthur c. clarke''s, Compare and contrast Arthur C. Cl...

Compare and contrast Arthur C. Clarke's "The Sentinel" with the movie 2001: A Space Odyssey. Pay particular attention to the discontinuities between the written and visual forms. W

Decades of the 20th century, Why did small airplane manufacturers find it e...

Why did small airplane manufacturers find it easier(relative to later periods) to launch new plane models in the first two decades of the 20th century? Explain fully!

In what ways was the election, In what ways was the election of 1896 a turn...

In what ways was the election of 1896 a turning point in American political history.

Describe george washington''s role in the revolutionary war, Describe Georg...

Describe George Washington's role in the Revolutionary War, including his leadership, strategies, and relationship with the Continental Army and with Congress. Provide an analysis

Indian attacks on colonists having revitalization movements?, Why were Indi...

Why were Indian attacks on colonists considered revitalization movements? White/Indian Relations and Slavery in the Colonies -Relations between colonists and Indians were oc

What was the role of women in the family economy, What was the role of wome...

What was the role of women in the family economy of early modern Europe? How might it differ from the lives of women in the late medieval period? How might it have been affected by

How did that children serve the same economic function, How did that childr...

How did that children serve the same economic function in New England as indentured servants did in the Chesapeake?

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