WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The breakup of monopolies in order to promote competition and preserve free-enterprise
|
|
|
Exposing a trust to reinforce its economic power
|
|
|
The rearrangement of a monopoly, to ensure a trust stays in place
|
|
|
Creation of new monopolies to spread the gospel of wealth and increase bimetallism
|
Detailed explanation-1: -Antitrust. By virtue of the Sherman Antitrust Act of 1890, the US government can take legal action to break up a monopoly. In 1902, President Theodore Roosevelt used the Sherman Antitrust Act as a basis for trying to break up the monopolization of railway service in the United States.
Detailed explanation-2: -By eliminating competition, trusts could charge whatever price they chose. Corporate greed, rather than market demands, determined the price for products. Progressives advocated legislation that would break up these trusts, known as “trust busting."
Detailed explanation-3: -Criminal antitrust enforcement is done only by the Justice Department’s Antitrust Division. Additionally, U.S. state governments may also enforce their own antitrust laws, which mostly mirror federal antitrust laws, regarding commerce occurring solely within their own state’s borders.
Detailed explanation-4: -The Supreme Court majority found that all monopolies tended to restrain trade and “to deprive the public of the advantages that flow from free competition.” The court ordered the breakup of the Northern Securities Company into independent competitive railroads.