How successful were Presidents, Roosevelt, Taft and Wilson in addressing America’s economic problems?
How successful were Presidents, Roosevelt, Taft and Wilson in addressing America’s economic problems? (24 marks)
America in the late 19th and early 20th century was going through tremendous growth, with mass immigration and the consequent rapid growth of cities and urbanisation, industrialisation and mass production. Teddy Roosevelt, Taft and Wilson, the 3 main presidents of the early 20th century are often known for their many achievements both abroad and at home, and economic problems are one of the many problems that they dealt with during their terms as president. This essay will touch on the economic problems in that era and how the presidents dealt with those problems.
The first of the presidents Theodore ‘Teddy’ Roosevelt was a president who worked successfully as a ‘trust buster’. As industrialisation developed in America, there was a rise of monopolies where big businesses. They started to have major and sometimes even full control of a particular product by buying out rival companies so they were the only business involved for the whole process, and this is called ‘Vertical Integration’. These caused problems as small businesses were attacked by big businesses undermining the opportunities for them therefore caused uncompetitive business in US. As a response to this problem, president Theodore Roosevelt (TR) enforced the Sherman Anti-Trust Act 1890 which was ignored by previous presidents like Cleveland, and was considered successful. Under this Act, in 1902 TR filed a lawsuit against James J.Hill’s and J.P Morgan’s Northern securities decision which had the aim of trying to merge the three major rail lines to form the Bulington Northern Railroad. This eventually caused the giant railroad company to disband pushing back the rising power of the big businesses, dismantling the big business back to its original smaller size. Roosevelt’s success in beating the big businesses shows that he was successful in addressing economic problems.
In 1903 the
America in the late 19th and early 20th century was going through tremendous growth, with mass immigration and the consequent rapid growth of cities and urbanisation, industrialisation and mass production. Teddy Roosevelt, Taft and Wilson, the 3 main presidents of the early 20th century are often known for their many achievements both abroad and at home, and economic problems are one of the many problems that they dealt with during their terms as president. This essay will touch on the economic problems in that era and how the presidents dealt with those problems.
The first of the presidents Theodore ‘Teddy’ Roosevelt was a president who worked successfully as a ‘trust buster’. As industrialisation developed in America, there was a rise of monopolies where big businesses. They started to have major and sometimes even full control of a particular product by buying out rival companies so they were the only business involved for the whole process, and this is called ‘Vertical Integration’. These caused problems as small businesses were attacked by big businesses undermining the opportunities for them therefore caused uncompetitive business in US. As a response to this problem, president Theodore Roosevelt (TR) enforced the Sherman Anti-Trust Act 1890 which was ignored by previous presidents like Cleveland, and was considered successful. Under this Act, in 1902 TR filed a lawsuit against James J.Hill’s and J.P Morgan’s Northern securities decision which had the aim of trying to merge the three major rail lines to form the Bulington Northern Railroad. This eventually caused the giant railroad company to disband pushing back the rising power of the big businesses, dismantling the big business back to its original smaller size. Roosevelt’s success in beating the big businesses shows that he was successful in addressing economic problems.
In 1903 the