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A Progressive reformer, Roosevelt earned a reputation as a "trust buster" through his regulatory reforms and antitrust prosecutions. His presidency saw the passage of the Pure Food and Drug Act , which established the Food and Drug Administration to regulate food safety, and the Hepburn Act , which increased the regulatory power of the ...
Roosevelt was hailed as the "trust-buster" for his aggressive use of the 1890 Sherman Antitrust Act, compared to his predecessors. [118] He viewed big business as essential to the American economy, prosecuting only "bad trusts" that restrained trade and charged unfair prices. [ 119 ]
Standard Oil (Refinery No. 1 in Cleveland, Ohio, pictured) was a major company broken up under United States antitrust laws.. The history of United States antitrust law is generally taken to begin with the Sherman Antitrust Act 1890, although some form of policy to regulate competition in the market economy has existed throughout the common law's history.
Theodore Roosevelt. ... President William Howard Taft established the federal income tax through the 16th Amendment and focused on trust-busting. He went on to become the Chief Justice of the ...
"Swift & Co. v. United States: The Beef Trust and the Stream of Commerce Doctrine," American Journal of Legal History (1984) 28#3 pp 244–279 in JSTOR Levin, Leslie A. "One Man's Meat Is Another Man's Poison: Imagery of Wholesomeness in the Discourse of Meatpacking from 1900–1910," Journal of American & Comparative Cultures (2001) 24#1‐2 ...
In 1898, President William McKinley launched the trust-busting era (one aspect of the Progressive Era) when he appointed the U.S. Industrial Commission. Theodore Roosevelt seized upon the commission's report and based much of his presidency (1901–1909) on trust-busting. [citation needed] Prominent trusts included: Standard Oil [6] U.S. Steel [7]
The Northern Pacific; the Great Northern; and the Chicago, Burlington and Quincy companies would later merge in 1969. The case was an example of Roosevelt's trust-busting procedures, prosecuting under the Sherman Antitrust Act (1890), and it marked a major victory for the antitrust movement,
When the trust fund invests in these government bonds, the money goes into the general fund of the U.S. Treasury and can be used to fund other programs. But the debt will have to be repaid and the ...