8monopolies

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The Problem(s)

 * They feel threatened by what seems to be limited entrepreneurial opportunities as the bulk of wealth is concentrated in the hands of a very few. By 1900, the wealthiest 2% of Americans controlled over 1/3 of the nation’s wealth.
 * **Monopolies** usually eliminated all competition and could easily raise prices and produce any quality goods it desired.
 * The huge enterprises gained so much power that they could influence government officials to pass laws that favored their interests.
 * **Trusts** – a deal between big businesses, they join together to control the making, selling, and the buying of goods.
 * **Trusts** eliminate the smaller businesses by stopping them from getting what they need; like store-owners, materials, and mostly customers.
 * **Trusts** make prices incredibly high so the smaller businesses cannot afford the materials they need.
 * **Trusts** then make sure the public is offered fewer goods so then they have to pay the high prices.
 * A **monopoly** is basically the same thing as a trust.
 * The federal government enacted antitrust laws in the years surrounding the turn of the 20th century, to fight the growth of big business during the later half of the 19th century.
 * If a few individuals or companies controlled the vast resources of a single industry, then both innovation and competition would be stifled.
 * The[| Standard Oil Company] is a great example of a **monopoly** which got rid of smaller businesses or took them over. IT was created by John D. Rockefeller and Samuel Andrew. Another example would be Carnegie's US Steel company.

The Solution(s)

 * During the 1870's the public needed help, so they started asking for it. The Progressives were formed, so this started the Progressive Movement which lasted from 1900 to 1920.
 * The Progressive Movement wqas formed to get better work places, fair prices for goods that were not so high, and to end **trusts**.
 * The Progressives worked for the government to make monopolies illegal.
 * In 1890 the **Sherman Anti Trust Act** was passed, it basically said that it was illegal for **trusts** to eliminate their competition.
 * **Ida Tarbell** was a woman who wrote "The History of the Standard Oil Company" which told the public what was going on in Rockefellers huge business. It ran in 19 magazine articles and woke the public to what Rockefeller was doing to the smaller businesses.
 * The court decided that breaking up **trusts** would be better for the country because they used unfair ways to get people and other companies out of business.
 * **Anti - Trust laws** were formed, these were laws that states were supposed to make against **monopolies** and **trusts**.
 * Then they formed the **Clayton Anti Trust Act**, which was basically an act that strengthened the **Sherman Anti Trust Act**. It said Labor Unions were ok and there were many more restrictions on **monopolies**.

The Images
This political cartoon is about **trusts** crshing republicanism and the lady liberty is trying to stop him.

This is a picture of **Ida Tarbell** who let people know what was going on in Rockefeller's business. In this cartoon uncle sam is being killed by the **trusts**.

The Primary Sources
//"In the unanimous decision inthe U.S. Supreme Court affirmed, with slight qualifications, a lower court's ruling that Standard Oil violated the Sherman Antitrust Act and required dissolution. However, the Court's decision limited the antitrust legislation by ruling that restraints of trade and monopolies should be broken up only when they were "unreasonable" by a common law standard. This rule of reason confused the issue, which led to new legislation; the rule of reason remained a judicial standard, though, in antitrust suits.//" SUPREME COURT DECISISON IN Standard Oil VS United States

The Citations
ABC-CLIO Progressive Era Handout [|Women and The **Progressive** Era] [|Monopolies and Trusts] __Standard Oil Company__