Theodore Roosevelt Trustbuster Essay

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

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)