Trust (19th century)

A special trust or business trust is business entity formed with intent to monopolize business, to restrain trade, or to fix prices. [cite book |title= The Truth About The Trusts |author= Moody |pages=XIII] Trusts gained economic power in the U.S. in the late 19th and early 20th centuries. Some but not all were organized as trusts in the legal sense. They were often created when corporate leaders convinced (or coerced) the shareholders of all the companies in one industry to convey their shares to a board of trustees, in exchange for dividend-paying certificates. The board would then manage all the companies in 'trust' for the shareholders (and minimize competition in the process). Eventually the term was used to refer to monopolies in general. In 1898, President William McKinley launched the 'trust-busting' era when he appointed the U.S. Industrial Commission. The report of the Commission was seized upon by Theodore Roosevelt, who based much of his presidency on "trust-busting".

This kind of trust led to the term "antitrust laws" in the United States for what the rest of the world calls "competition laws." The pioneering United States antitrust laws, especially the Sherman Antitrust Act, were initially aimed at breaking up these trusts.

References

Bibliography

ee also

*Cartel, a modern implementation

Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

Trust — may refer to:* Trust (social sciences), a relationship of reliance. ** Trust Fall, a trust building game.In law: * Trust law, where money or property is owned and managed on behalf of another * Escrow, where a thing is held in trust until… … Wikipedia
List of 19th century English language idioms — This is a list of idioms that were recognizable to literate people in the late 19th century, and have become unfamiliar since. As the article list of idioms in the English language notes, a list of idioms can be useful, since the meaning of an… … Wikipedia
Trust-busting — is any government activity designed to break up trusts or monopolies. Theodore Roosevelt is the U.S. president most associated with dissolving trusts.Trusts were large business entities that largely succeeded in controlling a market, essentially… … Wikipedia
List of churches preserved by the Churches Conservation Trust in Southwest England — Whitcombe Church … Wikipedia
Destruction of country houses in 20th-century Britain — Trentham Hall demolished in 1912. The Italianate Trentham was so lavish that the Shah of Persia in 1873 remarked to the future King Edward VII, of their host too grand for a subject, you ll have to have his head off when you come to the throne.… … Wikipedia
MODERN TIMES – FROM THE 1880S TO THE EARLY 21ST CENTURY — introduction effects of anti jewish discrimination in russia pogroms and mass emigration german jewry racism and antisemitism The Economic Crisis of the Early 1930s In Soviet Russia after 1917 new types of social organization contribution to… … Encyclopedia of Judaism
Christianity in the 20th century — Part of a series on Christianity … Wikipedia
Anderton Boat Lift Trust — The Anderton Boat Lift Trust is a waterway society in Cheshire, England, UK, and a member of the partnership to restore the Anderton Boat Lift near Northwich on the Weaver Navigation.The other partners are: *Association of Waterways Cruising… … Wikipedia
New Century Guild — U.S. National Register of Historic Places U.S. National Historic Landmark … Wikipedia
Land trust — There are two distinct definitions of a land trust: a private, nonprofit organization that, as all or part of its mission, actively works to conserve land by undertaking or assisting in land or conservation easement acquisition, or by its… … Wikipedia

Academic Dictionaries and Encyclopedias

Trust (19th century)

Look at other dictionaries:

Share the article and excerpts

Academic Dictionaries and Encyclopedias

Wikipedia

Trust (19th century)

Look at other dictionaries:

Share the article and excerpts

Direct link