Theodore Roosevelt and the Railroads
Background: One of Roosevelt's central beliefs was that the government had the right to regulate big business to protect the welfare of society. In 1902 the business community was shocked when the Department of Justice filed a suite against the Northern Securities Company—a giant railroad combination created by a syndicate of wealthy industrialists and financiers led by J. P. Morgan—due to its violation of the Sherman Antitrust Act. The Northern Securities Company was a monopoly and this was forbidden by that act. In 1904, the U.S. Supreme Court ruled in favor of the government and ordered the company dismantled. Roosevelt's first achievement was the Elkins Act of 1903, which ended the practice of railroad companies granting shipping rebates to certain companies. However, he recognized that the Elkins Act was not effective, Roosevelt pursued further railroad regulation and created the Hepburn Act, which proposed enhancing the powers of the Interstate Commerce Commission to include the ability to regulate shipping rates on railroads.
Picture: The political cartoon depicts Roosevelt as an authoritative figure who is in control of the railroads. The sign shows where the people are headed if they allow the monopolies to continue. Roosevelt believes that over speculation will occur and thus he is trying to control it by using the Hepburn Act. The club Roosevelt holds in his hand symbolizes that greater railroad regulation that he is imposing on the alliance between companies and railroads. He has a firm grasp on the club, showing his power and determination to go through with his vision.
Picture: The political cartoon depicts Roosevelt as an authoritative figure who is in control of the railroads. The sign shows where the people are headed if they allow the monopolies to continue. Roosevelt believes that over speculation will occur and thus he is trying to control it by using the Hepburn Act. The club Roosevelt holds in his hand symbolizes that greater railroad regulation that he is imposing on the alliance between companies and railroads. He has a firm grasp on the club, showing his power and determination to go through with his vision.