Unformatted text preview: Roosevelt and big business. Roosevelt had a well-deserved reputation as a “trustbuster.” During his administration (1901–09), 44 antitrust actions were filed against the nation's largest corporations, including the Northern Securities Company (a railway holding company). But the essence of the president's Square Deal — Roosevelt's approach to social problems, big business, and labor unions — was that he distinguished between “good” and “bad” trusts and strongly preferred to regulate corporations for the public welfare rather than destroy them. In the case of the railroads, for example, the practice of rebating was eliminated through the Elkins Act (1903), and the Hepburn Act (1906) allowed the Interstate Commerce Commission (ICC) to set maximum railroad rates. The Hepburn Act also expanded the ICC's jurisdiction to include pipelines, ferries, sleeping cars, and...
View Full Document
- Fall '08
- Interstate Commerce, Interstate Commerce Commission, Northern Securities Company, railway holding company, maximum railroad rates.