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Theodore Roosevelt Trustbuster Essay

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Theodore Roosevelt the Trustbuster. Theodore Roosevelt was the twenty-sixth US President. He became president at the age of 43, becoming the youngest president at this point in history. Roosevelt was appointed president after the assassination of President William Mckinley. Roosevelt became president during the progress era. During this time, there were many monopolies and trusts. A monopoly is a company that takes over all its competition. A monopoly is also known as a trusts. Since monopolies could have their prices at whatever they wanted or quality however they wanted they were not liked. Even though the monopoly's were good for the economy they were hated. Roosevelt especially hated the trusts that were bad. He separates the trusts into …show more content…

The Sherman Antitrust Act was the US first Ant-Trust Act. It was a law that prevents harmful practices to consumers. It was suppose to help encourage free and fair competition. It was not enforced for 12 years until Roosevelt came along and forced congress to enforce it. Roosevelt’s first trust he attached was the Northern Securities Company. Northern Securities Company was a railroad holding company. It was owned by JP Morgan and James J. Hill. Roosevelt saw the Northern Securities Company as Bad trusts. He saw it as a bad trusts because the company threatened competition and made prices unreasonable for riders. February 1902, roosevelt filed a lawsuit against the Northern Securities Company. Morgan found out and went to argue with the president but Roosevelt said no compromise could be made and must be settled in the court. In 1904 the Northern Securities Company was ordered to be dissolved by the Supreme Court. Morgan asked President Roosevelt if his other companies would be targeted. Roosevelt said they would only be targeted if they were breaking the law. Roosevelt also used the Hepburn Act and Elkins Act to control railroads, to ensure the railroads would use fair pricings. The Hepburn Act was used to help improve the Elkins Act and to strengthen the Interstate Commerce Commission (ICC)

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During this time period the outstanding debt of the national government decreased as a whole, which showcases that despite how the government was centering more attention on nonmilitary activities and likely interfering with laissez faire, the economy of the country improved as a whole. Government interference through the interstate commerce act also proved to be beneficial to both the party it was interfering on behalf of and the railroad systems. The act was seen as necessary in order to “conserve and protect” without harming the interests of the enterprises. It was in this same point of view that John Sherman created the Sherman Antitrust Act, for the sake of aiming at unlawful combinations and not harming any innocent enterprises. However, congress did follow in accordance to laissez faire when they resolved to no longer grant subsidies to corporations or private

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This was the first incident in which a president had candidly intervened in a discord between a company and its workers, at least inherently on the side of the laborers. Roosevelt explained his actions as contending toward a “Square Deal” between corporations and their employees; he coined the phrase “Square Deal” as part of his campaign slogan during the election of 1904. He did not share McKinley’s conservative pro-business policies, and instead became known as the “trust-buster” after being the

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The Roosevelt/Taft schism widened in 1910 after the Republican Party lost control of the House of Representatives in the midterm elections, and even more so in 1911 when Roosevelt was summoned to testify before the congressional Stanley Steel Investigating Committee to defend his approval of U.S Steel’s purchase of Tennessee Coal & Iron (Kolasky, 2011, para. 7). Taft, believing that Roosevelt testifying would demean the office of the president, asked him not to attend, but he was ignored. First, it was the Democratic majority of the Stanley committee that was largely critical of

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His contributions were similar to those of Roosevelt’s and equally or surpassed them. After Taft took office, Roosevelt left and did not return until June 1910. Roosevelt was upset with Taft’s “betrayal”, yet he refused to criticize the president, at first. Taft’s antitrust lawsuit against U.S. Steel was the last straw for Roosevelt. Roosevelt believed Taft’s breaking up of the the trust was destroying the carefully crafted system that he had established.

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He set out to regulate and subdue these corporations and remove the political corruption that was going on at the time. One of his first accomplishments

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He was the 32nd president and was the only president to be in office four times in a row and led america threw the great depression. It is said that an entire generation grew up only knowing Franklin D. Roosevelt as the president. He also was the president who got america threw world war II. in 1910 at age 28 Franklin D. Roosevelt was

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Were Theodore Roosevelt and Harry S. Tru{men}? Have you ever wondered how high profiled presidents today have impacted our lives? These are the most influential and important ways that Theodore Roosevelt and Harry S, Truman have helped the United States, and other countries in a positive manner. Theodore Roosevelt was the 26th president of the United States. His precedency lasted from 1901 to1909, after the assassination of president William McKinley.

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Roosevelt also passed the National Reclamation Act. This act in sure that the money earned from the sale of government land wouldn’t go to supply water to farms in the west. The money was used was during the construction of the Hoover

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The arbitrators awarded the miners a wage increase and a shortened workday. TR also worked to limit the power of big business by breaking up a monopoly. Roosevelt’s attorney general filed a suit against the Northern Securities Company, for violating the Sherman Antitrust Act. This act had not been used against monopolies since its passage in 1890.

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Trusts, or large monopolies, were corporations that combined and lowered their prices to drive competitors out of the business. This infuriated many americans at that time because it allowed such a small number of people to become wealthy, or even successful at all. When Theodore Roosevelt became president, he sympathized with workers unlike most of the presidents in the past who usually tried to help the corporations. As illustrated in Document A, Roosevelt wanted to hunt down the bad trusts ad put a leash on the good ones in order to regulate them. However, it only had a limited effect because the government was unable to control the activity of banks and railroads which were two of the most powerful industries in the world.

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