THEODORE ROOSEVELT’S TRUST-BUSTING ACTIVITIES Marc Sanchez Per. 1 Mr. Bunch U.S. History Theodore Roosevelt: The Beginning • Theodore Roosevelt was one American who believed a • • • • • revolution was coming. Roosevelt believed Wall Street Financers and trust titans were acting foolishly. There was no limit to greed for Roosevelt If docking wages would increase profits, it was done. Higher railroad rates put more gold in their coffers, it was done. Roosevelt wondered, How much was enough? “A man who has never gone to school may steal from a freight car: but if he has a university education, he may steal the whole railroad.” - Theodore Roosevelt What is Trust Busting? • Trust busting is a government act seeking to dissolve corporate trusts and monopolies. • A Trust means a large business. • In 1898, President William McKinley launched the “Trust- Busting” era when he appointed the U.S. Industrial Commission. Trusts and Monopolies. • Some companies got so big that smaller companies couldn’t even compete with them. • Trusts worried people, so Roosevelt broke up the monopolies and trusts which gave him the nickname “Trust Buster”. • He attacked the trusts guilty of monopolies and set up the necessary reforms that resulted in businesses into accepting government regulations. Meat Packing Industry • The meat packing industry was making meat unhealthy and inedible for buyers to eat. • The meat was packaged in unsanitary conditions and was poisoning buyers. • The Federal Meat Inspection act was placed to inspect and condemn any meat that was unfit for human consumption. The Railroad Regulation • The Hepburn Act of 1906 gave the Interstate Commerce Commission (ICC) the power to set maximum railroad rates and stopped free passes given to friends of the railroad. • The Elkins Act of 1903 was the Administration's first effort at the regulation of railroad rates; it proved ineffective in practice. Work Cited "The Trust Buster [ushistory.org]."ushistory.org. N.p., n.d. Web. 1 Oct. 2013. <http://www.ushistory.org/us/43b.asp>. "Roosevelt: The Trust Buster! | AP United States History." AP United States History | United we stand… Divided we fall!. N.p., n.d. Web. 1 Oct. 2013. <http://kapush.wordpress.com/2008/03/09/roosevelt-thetrust-buster>. "Theodore Roosevelt And Trusts | Theodore Roosevelt." Theodore Roosevelt | Theodore Roosevelt. N.p., n.d. Web. 1 Oct. 2013. <http://abouttheodoreroosevelt.com/trust-buster-theodoreroosevelt/283>.