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

Explain how the algonquians and iroquoians are similar, Explain how the Alg...

Explain how the Algonquians and Iroquoians are similar or different to typical Native American tribes in Central and South America

Disastrous and embarrassing campaign against who, In the 1st Century BC, Cr...

In the 1st Century BC, Crassus (reportedly the richest man of Rome) led a disastrous and embarrassing campaign against who?

What practices would you put in place to insure compliance, The staff of an...

The staff of any medical office comes into contact with a variety of PHI. As office manager of FPMG, what practices would you put in place to insure compliance with HIPAA?

President to go on record as seeing a ufo, Who is the first known president...

Who is the first known president to go on record as seeing a UFO?

Voltaire''s belief that religion, Two reading selections from Voltaire's Ca...

Two reading selections from Voltaire's Candied. the story begins by acknowledging the foolishness of the superstitious traditions held by the people in the city of Lisbon but ends

What was the middle ground and play-off strategy?, What were the Indians' s...

What were the Indians' strategies for dealing with European settlers? What was the "middle ground"? What was the "play-off strategy"? The Contest for America- European natio

What food was heavily purchased from north, What food stuff was heavily pur...

What food stuff was heavily purchased from the North by Great Britain during the Civil War? A. meat     C. vegetables B. grains    D. fruits

Show at least two effects on u.s. citizens, Discuss at least two effects on...

Discuss at least two effects on U.S. Citizens that stem from the division of power between the federal and state governments

What methods of control did parliament use against colonies, After 1763, wh...

After 1763, what methods of control did Parliament use against the colonies? Which methods worked? Which failed? Which backfired

What claims did the critics make, "Highbrow" critics condemned the suburban...

"Highbrow" critics condemned the suburban culture of the 1950s and the popular culture of the mass media. What claims did the critics make? What economic and social developments we

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