ipl-logo

To What Extent Was The Sherman Act Of 1890

1068 Words5 Pages

The 1800’s were a time of widespread growth due to the Industrial Revolution which introduced new manufacturing processes and tools, greatly increasing productivity. As the 19th century came to an end, the Industrial Revolution enforced government intervention into the market place righting wrongs that had come to fruition. Among these interventions were the Sherman Act of 1890, the Greenbacks over the Gold Standard, 1862 and the Interstate Commerce Act, 1887. Even though the United States practiced in a free market, these government interventions moved to reinstate economic opportunities and to correct inequalities in the American economic markets. At first with the widespread Industrial Revolution, everyone encouraged the growth of …show more content…

The most notorious of monopolies included the sugar industry, the whisky industry and the tobacco industry. Not only was the competition affected, but also the consumers who were paying higher prices and workers who were unable to change companies in an industry due to lack of competition. The Sherman Act of 1890 was the first United States antitrust law that was put in place to maintain free competition in business and made it a crime to monopolize any part of trade or commerce. The Sherman Act of 1890 was an antitrust law which was intended to defend trade and commerce from unfair business practices that make it possible to do away with competition based on their large economies of scale. It was named after its primary supporter John Sherman, an Ohio Senator on July 2, 1890 and further signed into law by President Benjamin …show more content…

Prior to the Civil War, the United States currency was based on gold which required every coin or dollar in circulation to have corresponding gold to support that monetary value. However, during the Civil War our government transitioned from this gold standard to Greenbacks. Greenbacks were paper currency, printed on green paper, in two forms: Demand Notes and United States Notes. They were legal tender but did not hold comparable gold to support that legal

Show More
Related

Explain How Big Businesses Controlled The Economy And Politics Throughout 1870-1900

170 Words | 1 Pages

Justin Clement APUS DBQ Big businesses controlled the economy and politics throughout 1870-1900. They were in control of the prices for certain items because they destroyed their smaller competitors until there was no competition left. They had much sway over politics and took away the people’s say. As we can see from Document A, between 1870-1899, the price for food, fuel, lighting and living decreased with the emergence of big businesses.

Read More

Market Revolution Dbq

311 Words | 2 Pages

The Market Revolution was a period of economic growth and expansion in the 19th century America. This era included the physical expansion, intellectual expansion and economic expansion of the nation. Physically, canals and, more significantly, railroads were built and expanded. Trunk lines were installed in order to provide consolidation and more efficient connection. Intellectual ideas prospered the market revolution.

Read More

The Market Revolution In The Jacksonian Era

1011 Words | 5 Pages

The era of Andrew Jackson was an age of reform as the United States was acquiring land- through the idea of manifest destiny- and concerned with democratizing its own institutions. The growth of the industrial economy attracted immigrants from several parts of the world notably Northern and Western Europe. Although economic opportunity was in their hands, an extreme amount of immigrants endured discrimination; they were forced to take on anomalous professions in order to survive. Furthermore, they suffered a tremendous volume of exploitation due to the venality of the Nativists; who saw the growth of the immigration population as a threat to the United States and the ideals it was built upon.

Read More

Big Business Dbq

939 Words | 4 Pages

Thesis : After the Civil War, America was in a post-war boom. During the 1870-1890, big business moguls, such as Rockefeller and Carnegie, create huge corporations which not only affected the economy, but also affected the political realm of America. While many may assume that during the rise of these big business helped to change the economy and politics,  the real focus was on the responses formed by society, such as labor unions, increase public outcry, and political opposition groups that helped to change society. A: Economically, big business flourished during the late 1800s.

Read More

Second Great Awakening Industrialization

362 Words | 2 Pages

During the 19th century, the American people were experiencing a revolution concerning both the economy and religion, in what is recognized today as the Market Revolution and the Second Great Awakening. A rapid increase in the population within the countryside, and the development of new technology outburst a change in the economy from one of local exchanges to one governed by capital and capitalists. Family owned businesses began to expand and sold their items not only among a small community, but now products were being shipped to different ports along the colonies. The industrialization movement was rapidly approaching that “Indian removal was necessary for the opening of the vast American lands to agriculture, to commerce, to markets, to

Read More

Sherman Antitrust Act Essay

733 Words | 3 Pages

Consumer’s satisfaction and quality of prices would have decreased if the Sherman Antitrust Act haven’t been created by the Congress in 1890. Since the 17th century monopolies have existed. The Sherman Antitrust Act created on the 17th century by Senator John Sherman, from Ohio was the beginning of a lasting fight against monopolies. The Sherman Antitrust Act had the objective of preventing anticompetitive monopolies, thus, protecting consumers. President Theodore Roosevelt was the first American president to use the principle of the Sherman Antitrust Act to work against monopolies that hurted the American economy.

Read More

How Did The Nineteenth Century Brought Enormous Growth In The 19th Century

363 Words | 2 Pages

The nineteenth century brought enormous growth in the American economy. Technology and industrialization fueled the growth. The growth was in agriculture, banking finance and military. These transformations were after the Civil War. The Republicans believed manufacturing products and marketing them overseas could create jobs and prosperity in the United States.

Read More

Farmers's Response To Industrialization In The Gilded Age

1456 Words | 6 Pages

In a time when America was coming out of the bloodiest war that was ever fought, against themselves, The Civil War, and when America looked overseas for a new frontier with Imperialism. It is in this context that America started to grow westward with farm land and in industry with the million of workers, but America still felt growing pains. Two significant ways in which farmers and industrial workers responded to industrialization in the Gilded Age (1865-1900) were the formation of organizations to protect farmers, and the creation of labor unions and the use of strikes to protect the workers. One significant way in which farmers responded to industrialization in the Gilded Age (1865 - 1900) was the formation of organizations to protect farmers. During Westward Expansion farmers fell victims to the low pricing of the crops.

Read More

Manifest Destiny And The Market Revolution

1108 Words | 5 Pages

The Market Revolution generated a drastic change in the United States economy and altered gender barriers while at the same time accomplishing this in a provocative manner. This economic boom occurred around the first half of the 19th Century. The economic boom was achieved by inventions such as a transcontinental railroad system which resulted in a better transportation system which improved trade and the cotton gin which sped up the rate of removing seeds from cotton fiber. However like what the great Hugo said, “The brutalities of progress are called revolutions. When they are over we realize this: that the human race has been roughly handled, but that it has advanced”.

Read More

Advertising In The Gilded Age

498 Words | 2 Pages

Modern day America is an economic superpower. However, one and a half centuries ago, this was not the case. In the late 1800’s there was a large boom in terms of population and industrialization in the United States. From this stemmed many new technological innovations, innovations which could be applied to the creation of alluring products for the masses. This led to the rise of a prominent American consumer culture, which was a driving force in the great economic growth of the Gilded Age.

Read More

How Did Progressivism Contribute To The Transformation Of America

674 Words | 3 Pages

Progressivism contributed significantly to the transformation of the United States of America. After the civil war, America experienced significant economic changes due to industrialization. The economic situation was encouraged by the government's support of private companies, an environment that supported start-ups and availability of natural resources such as coal, oil, iron ore, copper, timber and vast of fertile lands. Besides, the federal monetary policy that ensured stabilized the currency and high-interest rates. Although many Americans were committed to the ideology of using free labor and wished that the country's economy would remain open and decentralized, and the gap between the rich and the poor would be minimized due to the numerous opportunities, the opposite happened because of the emergence of monopolies such as Rockefeller who dominated the market and prohibited entry of new enterprises.

Read More

Industrialization In The Gilded Age Essay

812 Words | 4 Pages

The time period from when the Second Industrial Revolution was beginning, up until President McKinley’s assassination in 1901, is known as the Gilded Age. After the Civil War, many people headed out West to pursue agriculture, and many immigrants moved to urban areas to acquire jobs in industrial factories. It is in this context that farmers and industrial workers had to respond to industrialization. Two significant ways farmers and industrial workers responded to industrialization in the Gilded Age, were creating the Populist Party and the American Federation of Labor (AFL).

Read More

The Role Of Big Business In The 1800s

336 Words | 2 Pages

In the later part of the 1800’s there were many big changes taking place. A few of which was the rise of cities, industrialization, and Big Businesses. Prior to this point in history many people made their own items to provide for themselves and businesses were mostly locally owned shops ran by people who knew their customers well and put the customers before anything else. However the growth of large companies and corporations changed this drastically. The owners knew nothing about their customers and their main concern was how much profit was made.

Read More

Economic Changes Between 1877 And 1900

229 Words | 1 Pages

The period between 1877 and 1900 saw an array of economic challenges that required the intervention of business people to foster sustainability. Importantly, the need for an economic transformation in the United States (U.S) called for radical changes that would secure the future. During the last quarter of the 19th century, the American economy needed some sort of maturity in the industrial sector, expansion of big corporations, the need to widen agricultural production, as well as the essence of solving industrial conflicts. The technological change outburst experienced towards the end of the 19th Century saw business people in the U.S expand their operations beyond the borders of the country thanks to globalization.

Read More

Darkest Times In American History: The New Deal Era

1176 Words | 5 Pages

The New Deal Era Jessica Scull History 144 10/25/15 Soon after WWI ended, those in the middle class and upper class experienced an abundance in wealth and capitalism was thriving like never before. However, this time of prosperity didn’t last very long, America faced a series of economic issued that led to one of the darkest times in American history, the Great Depression. Banks, loans, and stocks had all failed, there was a decline in innovation, as well as supply and demand, and also a global financial crisis. In the tail end of the Great Depression, Republican President Herbert Hoover responded to the economic crises in America by imposing strong business-like ideals he and his administration strongly adhered to throughout

Read More

More about To What Extent Was The Sherman Act Of 1890

Related Topics

Open Document