What did Theodore Roosevelt think of the Millionaire's Club and how did he fight them?

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stolperia | (Level 1) Educator Emeritus

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President Theodore Roosevelt argued vigorously against industrial trusts and the corruption that had developed along with the trusts. Major new industries, including the railroads and oil and steel production, were controlled by a small number of enormously wealthy individuals and companies who also carried great influence with Congressional leaders, especially senators.

These giant trusts, including Standard Oil, American Tobacco, and U.S. Steel, could all afford extensive lobbying in Washington. They seemed to carry the most weight with the United States Senate-the house of Congress not then directly elected by the people. A number of senators were closely identified with major trusts. Editorial cartoonists began picturing the Senate chamber filled with overblown figures representing corporate interests; newspapers referred to the Senate as a "Millionaire's Club"; (ChapterĀ 2: "Lobbyists" September 28, 1987 (updated 1989))

President Roosevelt made extensive use of the Sherman Anti-Trust Act of 1890 to break up the monopolies. The Northern Securities Company, which was a trust controlled by the three major railroads in the northwest (Northern Pacific Railway, Great Northern Railway, and Chicago, Burlington and Quincy Railroad) was one of the first he attacked. The Supreme Court ruled in favor of the government and President Roosevelt, forcing the dissolution of Northern Securities, in 1904. Many other successful actions followed.


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