Challenges and Reforms in the Progressive Era: Power Struggles of Big Business
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Ashley, Hannah, Helena, Katie
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Large business monopolies
suppressed the potential for
competition
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Companies controlled entire
industries and could exploit laborers
and consumers
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The federal government failed to
combat the issue
G
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l
s
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Regulate large
corporations to prevent
monopolies
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Ensure competition and
free enterprise
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Establish and enforce
antitrust laws
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p
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M
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Muckrakers worked to expose
corruption
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Hoped to bring about reform
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Exposed the political and economic
corruption and social hardships
caused by the power of big
businesses through detailed and
accurate journalism
o
Corrupted management
o
Government influence
o
Monopolies
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Lincoln Steffens
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Wrote an article in McClure’s magazine
called “Tweed Days in St. Louis”
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Exposed how city officials worked with big
business to maintain power while corrupting
the public treasury
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Ida Tarbell
o
Wrote a series in McClure’s Magazine called
“History of the Standard Oil Company”
o
Outlines and documented Rockefeller’s
cutthroat business tactics
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Presidents
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Theodore Roosevelt
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Woodrow Wilson
B
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Andrew Carnegie
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Steel empire
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Ruthless business tactics
Vertical Integration
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John D. Rockefeller
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Founded Standard Oil Company
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Monopoly on the oil industry
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Ruthless business tactics
Horizontal Integration
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Presidents enforced laws to watch
over large businesses and control
monopolies
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Making people aware of what is
happening in these big businesses
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Sherman Antitrust Act- Prevented
large firms from controlling a single
industry
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“Rule of Reason”-Used to interpret
Sherman Antitrust Act
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Federal Reserve Act-Created central
banking system of the United States
for better control over money from
large businesses
G
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Republicans
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Teddy Roosevelt became president and
enforced laws
Formed Progressive Party
o
William Taft passed the 16th amendment
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Democrats
o
Woodrow Wilson taxed people with large
incomes
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Labor Unions/Laborers
o
Better working conditions and wages
O
b
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F
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Unfairness in markets
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Entrepreneurs had more say in
government
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Difficulty passing legislation
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Discrimination & poverty were
obstacles against individual
freedom & liberty
S
u
c
c
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Congress enacted law regulating
railroads (Interstate Commerce Act
1887)
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Election of sympathetic presidents
(Roosevelt & Wilson) who enforced
these laws
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Antitrust Law prohibits monopoly &
unfair business practice
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Attempted to prevent large firms from
controlling a single industry (Sherman
Antitrust Act 1890)
The Progressive Era was marked by the dominance of large business monopolies, leading to suppressed competition, exploitation of laborers, and economic control. Reformers aimed to regulate corporations, ensure fair competition, and expose corruption through muckraking journalism. Notable figures such as Lincoln Steffens and Ida Tarbell challenged powerful tycoons like Andrew Carnegie and John D. Rockefeller. Presidents took actions like enforcing antitrust laws and creating the Federal Reserve Act to combat monopolistic practices.
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Presentation Transcript
Power of Big Business in the Progressive Era Ashley, Hannah, Helena, Katie
Problems Large business monopolies suppressed the potential for competition Companies controlled entire industries and could exploit laborers and consumers The federal government failed to combat the issue
Goals Regulate large corporations to prevent monopolies Ensure competition and free enterprise Establish and enforce antitrust laws
Exposure and Muckraking Muckrakers worked to expose corruption Hoped to bring about reform Exposed the political and economic corruption and social hardships caused by the power of big businesses through detailed and accurate journalism o Corrupted management o Government influence o Monopolies
Notable Names GOOD GUYS Lincoln Steffens o Wrote an article in McClure s magazine called Tweed Days in St. Louis o Exposed how city officials worked with big business to maintain power while corrupting the public treasury Ida Tarbell o Wrote a series in McClure s Magazine called History of the Standard Oil Company o Outlines and documented Rockefeller s cutthroat business tactics Presidents o Theodore Roosevelt o Woodrow Wilson BAD GUYS Andrew Carnegie o Steel empire o Ruthless business tactics Vertical Integration John D. Rockefeller o Founded Standard Oil Company o Monopoly on the oil industry o Ruthless business tactics Horizontal Integration
Strategies/Tactics Presidents enforced laws to watch over large businesses and control monopolies Making people aware of what is happening in these big businesses Sherman Antitrust Act- Prevented large firms from controlling a single industry Rule of Reason -Used to interpret Sherman Antitrust Act Federal Reserve Act-Created central banking system of the United States for better control over money from large businesses
Groups Involved Republicans o Teddy Roosevelt became president and enforced laws Formed Progressive Party o William Taft passed the 16th amendment Democrats o Woodrow Wilson taxed people with large incomes Labor Unions/Laborers o Better working conditions and wages
Obstacles Faced Unfairness in markets Entrepreneurs had more say in government Difficulty passing legislation Discrimination & poverty were obstacles against individual freedom & liberty
Successes/Failures Congress enacted law regulating railroads (Interstate Commerce Act 1887) Election of sympathetic presidents (Roosevelt & Wilson) who enforced these laws Antitrust Law prohibits monopoly & unfair business practice Attempted to prevent large firms from controlling a single industry (Sherman Antitrust Act 1890)
