Economic events that occurred during 1900-1910 that changed or shaped the American economy

By yudith08105
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    1900

    Congress passes the Gold Standard Act, which pegs the dollar exclusively to gold and ends the debate over the use of silver. This stabilizes the currency's value and gives greater confidence to domestic and foreign investors, and the United States consolidates its position as a modern industrial and monetary economy.
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    1901

    J.P Morgan merges several steel companies to form U.S. Steel, the world's first billion-dollar company. President William McKinley dies, and Theodore Roosevelt takes office, ushering in an era of reforms known as Progressivism. Roosevelt adopts a more interventionist stance on the economy, opposing monopolies.
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    1902

    140,000 miners go on strike demanding better wages and conditions. President Roosevelt intervenes directly to mediate, marking an unprecedented shift in the federal stance toward labor disputes. The idea that the government should act as an arbiter in key economic disputes is promoted.
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    1903

    The department of commerce and labor, a new agency to regulate key industries and collect economic and labor statistics, is established, An era of increased government oversight of business and labor practices begins. More than 800,000 immigrants arrive in the U.S., expanding the labor force.
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    1904

    The supreme court, under the Sherman Antitrust Act, orders the breakup of Northern Securities, a powerful railroad monopoly. This marks the first major successful use of government funds against large corporate trusts. It reinforces Roosevelt's image as a "trust buster"