Supreme Court ruled in favor of the government and ordered the company dismantled. Morgan-violated the Sherman Antitrust Act because it was a monopoly. At issue was the claim that the Northern Securities Company-a giant railroad combination created by a syndicate of wealthy industrialists and financiers led by J. The suit alarmed the business community, which had hoped that Roosevelt would follow precedent and maintain a "hands-off" approach to the market economy. So when the Department of Justice filed suit in early 1902 against the Northern Securities Company, it sent shockwaves through the business community.
Although Congress had passed the Sherman Antitrust Act in 1890, former Presidents had only used it sparingly. However, this idea was relatively untested. One of Roosevelt's central beliefs was that the government had the right to regulate big business to protect the welfare of society. And even when he began to chart his own course, Roosevelt knew that he had to work with congressional Republicans to get the G.O.P. Coming into office following William McKinley's assassination, Roosevelt pledged to maintain the fallen President's policies so as not to upset the nation in a time of mourning. In addition, TR was a politician who understood the need to compromise in order to implement his ideas. In fact, he often stated that there must be reform in order to stave off socialism if government did not act, the people would turn to more extreme measures to seek remedies. He never suggested fundamentally altering American society or the economy to address various economic and social ills. He was not a radical, however TR believed that big business was a natural part of a maturing economy and, therefore, saw no reason to abolish it. As chief executive, Roosevelt felt empowered by the people to help ensure social justice and economic opportunity through government regulation. At the turn of the twentieth century, Americans had begun to look for ways to address some of these problems. As the United States became increasingly urban and industrial, it acquired many of the attributes common to industrial nations-overcrowded cities, poor working conditions, great economic disparity, and the political dominance of big business. cities to work in the country's burgeoning factories. The population of the United States had almost doubled from 1870 to 1900 as immigrants came to U.S. When Theodore Roosevelt took the oath of office in September 1901, he presided over a country that had changed significantly in recent decades.
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