lt’s statist tendencies brought new meaning to government regulation. Roosevelt’s Anti-Trust policy of 1902 pledged government intervention to break up illegal monopolies and regulate corporations for the public good. Roosevelt felt that “bad” trusts threatened competition and markets. in order to restore free competition, President Roosevelt ordered the Justice department to prosecute corporations pursing monopolisticpractices. However, the Judicial Branch repudiated its duty (right of reason) and now, even if the impact of the market was not harmful, actions that restrained or monopolized trade would automatically put a firm in violation of theSherman law. In 1902, the United Mine Workers were willing to submit to arbitration, but the coal operators adamantly opposed any recognition of the union. Thus, the union members decided to strike over wages, safetyconditions, and union recognition. The Anthracite Coal Strike of 1902 ended with the appointment by Roosevelt of an arbitration commission to rule on the issues. Business men did not regard politics (government regulation) as a necessary evil, but as an important part of their position in society. Roosevelt did not see big business as evil, but a permanent development that was necessary in a modern economy. Roosevelt couldn’t rely on the courts to distinguish between “good” or “bad” trusts. The only solution was for the executive to assume that responsibility. Roosevelt’s ingenious “square dealings” and “gentlemen’s agreements” controlled many firms. In 1903, a new cabinet position was created to address the concerns of business and labor (Department of Commerce and Labor). Within the department, the Bureau of Corporations was empowered to investigate and report on illegal activities of corporations. The abuse of economic power by railroads proposed another problem for Roosevelt. However, in 190...
