Trust-Busting: Theodore Roosevelt’s Effectiveness in Regulating Big Business

Trust-Busting: Theodore Roosevelt’s Effectiveness in Regulating Big Business

Length: 1618 words (4.6 double-spaced pages)

Rating: Powerful Essays

Open Document

Essay Preview

Before a series of antitrust acts and laws were instituted by the federal government, it was not illegal for businesses to use any means to eliminate competition in late nineteenth-century America. Production technology was now advanced to the point that supply would surpass product demand. As competition in any given market increased, more and more companies joined together in either trusts or holding companies to bring market dominance under their control (Cengage 2). As President Theodore Roosevelt was sworn into office in 1901, he led America into action with forceful government solutions (“Online” 1). Roosevelt effectively regulated offending business giants by the formation of the Department of Commerce and Labor, the Bureau of Corporations, and antitrust lawsuits.
Trusts were essentially agreements between businesses of any certain market to be anti-competitive in relation to one another. The problematic methods and techniques they used included rigorously lowering prices, “buying out competitors, forcing customers to sign long-term contracts, [and] forcing customers to buy unwanted products to receive other goods (“Sherman” 1). For example, financier J. P. Morgan captured the business opportunity presented by the Depression of 1893, which occurred for the same reason as the Depression of 1873—more goods had been produced than could be sold as a result of excessive expansion. Morgan acquired many railroads that had declared bankruptcy (“Domination” 2), as well as buying Andrew Carnegie’s Carnegie Steel in 1901 (Keesee 356).
To differentiate monopolies from trusts, it must be said that single companies were able to form monopolies when in control of “nearly all of one type of product or service… [This] affects the consu...


... middle of paper ...


...or Christian Schools® 3rd ed., Greenville, SC: Bob Jones UP, 2001. 356. Print.
Ohio History Central. “Trust Busting.” OHC, 1 Jul 2005. Web 03 Oct. 2011.
-Online Highways, LLC. “Business and Industry, the Theodore Roosevelt Administration.” Trust Busting: A Response to Business Concentration. N.d., n. pag. Web. 25 Sept. 2011.
“Processor Editorial Article - Antitrust Laws: Not Just For The Big Boys.” Editorial.Processor 19 Nov. 2004: 27+. Processor.com. Web. 29 Nov. 2011 .
-”Sherman Antitrust Act, The.” WashingtonPost. The Washington Post Company, 1998. Web. 17 Sept. 2011.
-“Theodore Roosevelt’s Square Deal.” The Progressive Era. SparkNotes, n.d. Web. 03 Oct. 2011.
United States. Dept. of Commerce and Labor. Reports of the Department of Commerce and Labor (House Document). Books.google.com. U.S. G.P.O. 1903. Web- Digitized 17 Jul. 2008. Web. 03 Oct. 2011. Print.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Roosevelt's Legacy

- Theodore Roosevelt was a man uniquely fitted to the role that he played in American history. He became President of the United States at the crucial crossroads of the nineteenth and twentieth centuries. At the turn of the century, the U.S. had faced countless problems as the result of the industrial revolution's effects on society and politics. Reform was needed and it took a man of great vision and ambition to make the changes the American public sought to gain. Roosevelt was the type of man needed by America to improve standards of living, earn purity in democracy, create fairness in business practice, protect the natural environment and earning the respect of foreign nations...   [tags: Theodore Roosevelt]

Powerful Essays
1160 words (3.3 pages)

Business Law Antitirust Essay

- Because the field of Business Law is so great, this paper will examine a single aspect of Business Law, that of antitrust action. Specifically, as it is applied to Microsoft, antitrust litigation is raising eyebrows in both the legal and business worlds. There is a hue and cry that antitrust laws as they exist today have outlived their usefulness when applied to cyber commodities and artificial intelligence. This paper will present those opposing viewpoints and attempt to answer the question: are laws wrought in the industrial age applicable to today’s technology....   [tags: GCSE Business Marketing Coursework]

Free Essays
6871 words (19.6 pages)

Essay on Relief Brought to the American People by Roosevelt's New Deal Programs

- ... The Wagner Act changed the role of the government by implying that social justice was now also on the government’s agenda of what to provide to citizens, in addition to political rights and economic security. Document E shows another instance of reform provided by FDR and his administration: social security. In response to Townsend and his followers, FDR created the Social Security Act which gave pensions to old-age workers, along with many other benefits to citizens. The effectiveness of Social Security was only satisfactory, as it failed to help farmers and domestic workers....   [tags: economy, depression, poverty]

Powerful Essays
1017 words (2.9 pages)

Business Increases And Trust Will Increase Essay

- business increases, thus income increases and trust will increase. Sites like Yelp help businesses to achieve greater customer numbers and income. Reviews and feedback on social media are also having an impact on businesses on modern society by letting the consumer speak their opinion on a company’s product or establishment. While there are negative effects, they are minimal for large companies. On the other hand, for small businesses it can be the deciding factor between bankruptcy and expansion....   [tags: Sociology, Marketing, Business, Corporation]

Powerful Essays
1002 words (2.9 pages)

The Importance of Trust Essays

- What is trust. According to Merriam-Webster’s Online Dictionary, trust is an assumed reliance or the character, ability, and strength of someone or something. My definition of trust is someone who can do something without being checked up on or being able to depend on someone. The focus of this essay will be trust. I will go in depth on trust at home, school and trust in general. Follow me on this journey as I explain why trust is needed and how it betters your character. Let’s begin… Trust is needed everywhere you go....   [tags: Trust]

Free Essays
416 words (1.2 pages)

Theodore Roosevelt And The President Essay

- Theodore Roosevelt Who would you say is your favorite president. Maybe George Washington, Ronald Reagan, or even Barack Obama. One commonly underestimated president is Theodore Roosevelt. From the day he took office, Roosevelt transferred the role of the president forever. He was a man of the people, who believed presidents should serve the people not their parties. All information in this paper is cited from Britannica. Theodore Roosevelt was born October 27, 1858 and died January 6, 1919. He became the 26th president after the assignation of President William Mckinley in 1901....   [tags: Theodore Roosevelt, William McKinley]

Powerful Essays
863 words (2.5 pages)

Theodore Roosevelt's Shaping of America Essay

- Theodor Roosevelt, our 26th president, was a gruff politician who had a huge impact on America. He is known for his accomplishments in the political, social, and business world during the Progressive Era. His accomplishments helped shape America, and because of this influence, he is one of the faces found on Mount Rushmore. Theodor Roosevelt was born on October 27, 1858, in New York, New York. As a child he was frail and timid, and as a result, most of his education was through tutors in his home before he went to college....   [tags: Theodore Roosevelt, USA, history,]

Powerful Essays
1075 words (3.1 pages)

Trust In Business Is A Means For Greater Business Efficiency Essay

- All businesses strive to be effective and efficient. Whilst the hallmark of a capitalist economy is self-interest and competition, cooperation is also necessary in order to further efficiency and productivity. For a business to be successful, the people within need to develop relationships amongst each other as well as outside the organization in order to be able to work with one another. These relationships are a function of trust. Trust is the reliance on the integrity, ability, or character of a person or thing....   [tags: Business Ethics]

Powerful Essays
1850 words (5.3 pages)

Essay on The Impact of Roosevelt's New Deal

- Look deep within United States history to find its most significant molding element and one will find that its source stemmed from a great national crisis. At its highest extent, nearly one-fourth of its labor force was unemployed and American confidence in itself was deeply shaken. It is in studying the Great Depression and President Franklin Delano Roosevelt’s New Deal, that America’s most significant influential event can be found. The New Deal and its legacy had the largest impact on American society since the founding of the United States....   [tags: Franklin D. Roosevelt]

Powerful Essays
2201 words (6.3 pages)

Roosevelt Essay

- Theodore Roosevelt is said to have been one of the greatest presidents ever. Theodore Roosevelt expanded the role of the presidency into foreign affairs by using The Roosevelt Corollary to the Monroe Doctrine, this stated that the U.S. had the right to oppose European intervention in the western hemisphere and also to intervene itself in the domestic affairs of its neighbors. This was brought about when the government of Venezuela stopped paying their debts to European bankers. As a result European naval forces formed a blockade around the Venezuelan coast and began to bombard their ports....   [tags: essays research papers]

Powerful Essays
727 words (2.1 pages)