Trust Busting By: Eddie Haith

Trust Busting is when government groups are aimed at breaking up monopolies and trusts.

Monopoly-

"The Trust Buster." Ushistory.org. Independence Hall Association, 2008. Web. 08 Feb. 2017.

During roosevelt’s presidency, he brought forth legal charges against trusts in the beef, oil, and tobacco industries. Although called a “trustbuster" Teddy did not want to divide up all trusts. He wanted to balance trusts, not destroy them. He saw some trusts as “good, and others as “bad”. Good trusts, he believed, were concerned with public welfare, but bad trusts were not.

Goals: Roosevelt wanted to balance trusts, not to destroy them, And brought forth charges against the beef, oil and tobacco industries.

Trusts were large business groups that succeeded in controlling a market, essentially becoming a monopoly. In the mid late 1900's the term became common, when a system of trusts controlled much of the economy of the United States. In 1898, President William McKinley sent out the “trust-busting” era when he scheduled the U.S. Industrial Commission on Trusts, which inquired Andrew Carnegie, John D. Rockefeller, Charles M. Schwab, and other industrial leaders. The report of the Industrial Commission was charged upon by Theodore Roosevelt, who became known as the “Trust Buster,” vanished 44 trusts during his two years as president. However, the “Trust Buster” nickname would probably be better suited for Roosevelt’s successor, William Howard Taft, who brought an end to 90 trusts in one year. Although Taft may have done more to control the trusts while in his term, Roosevelt keeps the nickname because he was the pioneer of trust-busting.

Sherman Anti-Trust Act- Teddy Roosevelt's weapon was the Sherman Anti-Trust Act, Passed by Congress in 1890. This law declared all illegal groups "in control of trade." For the first twelve years of its existence, the Sherman Act was weak to the economy. United States courts commonly urged with businesses when any enforcement of the Act was attempted.

Northern Securities Company- In the 1980's President Roosevelt charged the Department of justice to take the Northern Securities company to court for interfering the Sherman Antitrust Act in his "trust-busting" efforts to break up Big Business monopolies. Northern Securities case was a victory for Roosevelt when the Supreme Court ordered the Northern Securities company to be taken down.

"The Trust Buster." Ushistory.org. Independence Hall Association, 2008. Web. 08 Feb. 2017.

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Company, Houghton Mifflin. "Trust Busting." Dictionary.com. Dictionary.com, 2017. Web. 08 Feb. 2017.

Appleby, Joyce, Alan Brinkley, Albert S. Broussard, James M. McPherson, and Donald A. Ritchie. Discovering Our Past: A History of the United States. New York, NY: McGraw-Hill, 2014. Print.

Laoteacher. "Roosevelt: The Trust Buster!" AP United States History. Wordpress, 09 Mar. 2008. Web. 08 Feb. 2017.

Alchin, Linda. "Northern Securities." Northern Securities Case: US History for Kids ***. Sisteen Ltd., Apr. 2016. Web. 08 Feb. 2017.

Laoteacher. "Roosevelt: The Trust Buster!" AP United States History. Wordpress, 09 Mar. 2008. Web. 08 Feb. 2017.

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