Why was Teddy Roosevelt was known as a trust buster?

Answer 1

Beginning in 1902, President Theodore Roosevelt's adminstration used the federal courts and the Sherman Antitrust Act (1890) to break up "trusts" (cartels, monopolies) that Roosevelt believed were acting against the interests of the people and the country. Up until that time, the "restraint of trade" facet of the Act was used against labor unions.

The first success was against J.P. Morgan's Northern Securities Company, which monopolized rail freight traffic in the US by its anti-competitive practices. There were other trusts that Roosevelt saw as primarily benefitting a few wealthy directors at the expense of the economy, and he moved against them as well.

He soon became known as the "Trust Buster" although he thought some monopolies were in the public interest, and opposed their breakup. (This was one thing that led to his decision in 1912 to run for President again against his successor, William Howard Taft.)

Answer 2

In 1902, Roosevelt's administration forced the Northern Pacific and Great Northern railroads to end their alliance. This was one of the most significant moves against monopoly power up to that time. The "trusts" (cartels, or interlocking directorates) allowed small groups of individuals to control groups of companies that would otherwise be competitors.

Answer 3

Roosevelt explained his approach to social reform as "The Square Deal", which said "all people should have an equal opportunity to succeed through strong personal ethics, a sense of fairness, and adherence to the law." Seeing trusts as a violation to this belief, he looked to the people of America for support for this regulation program. He had government leaders design a series of moves to limit trusts, for example with the Northern Securities Company, which they took to court in 1904. The Supreme Court decided that Northern Securities Company violated the Sherman Antitrust Act by trying to attain a monopoly of northwester railroads. After a while, Roosevelt tried to pass legislation to assist these antitrust suits, and this was the Expedition Act. After this act, his reputation as a trustbuster grew. Please note- though known as a trustbuster, preferred regulation instead of trustbusting because regulation forced business leaders to obey laws, while trust busting broke apart monopolies after the fact.

Answer 4

He established Anti-trust laws to take power away from the big business leaders, such as John D Rockefeller.

Answer 5

In 1902, Theodore Roosevelt used the Sherman Antitrust Act to sue the Northern Securities Company. This gained him a reputation as a trustbuster.

Answer 6

He pushed for legislation to regulate and break-up trusts and such monopolistic business practices.

Answer 7

Because he busted out of the trust jail

Answer 8

directed into the bulifing

Answer 9

lick prick