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

How states and the federal government, Review what constitutes "cyber crime...

Review what constitutes "cyber crime," and how states and the federal government are addressing it.

Agree or disagree with the following statement, Agree or disagree with the ...

Agree or disagree with the following statement and cite your reasons: "The United States is the most generous country in the world and should be loved by its trading partners and p

Gentlemen''s agreement, The "Gentlemen's Agreement" of 1908 dealt with a. d...

The "Gentlemen's Agreement" of 1908 dealt with a. discouraging the emigration of Japanese laborers to the United States b. progressive political efforts to persuade big business to

In the late nineteenth century american conservatives, In the late nineteen...

In the late nineteenth century, American conservatives a) opposed an activist federal judiciary b) criticized the legal profession c) expected the federal judiciary to strike do

What was devshirme tax levied by the ottomans, Upon what was the devshirme ...

Upon what was the devshirme tax levied by the Ottomans on their Christian Balkan populations?

Who was herodotus, Who was Herodotus, where was he from and why do we study...

Who was Herodotus, where was he from and why do we study him? What was his point of view on the Persians and on Greek resistance to Persia? What did he write, what was its format,

United states - race and hispanic origin, As preparation for this activity,...

As preparation for this activity, view the historical census data, United States - Race and Hispanic Origin: 1790 to 1990. Review the population of the United States during the yea

Protection of their rights, Immediately after the Civil War, freed people m...

Immediately after the Civil War, freed people made some gains: They voted, some became members of state legislatures, some opened schools and businesses, and so forth. However, soo

What is a funny story of a president between 1920-1990s, What is a funny st...

What is a funny story of a president between 1920-1990s?

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