Theodore Roosevelt, J.P. Morgan, and the Battle to Transform American Capitalism
In the book THE HOUR OF FATE, Susan Berfield portrays the momentous legal battle between 1902 and 1904 between President Theodore Roosevelt and investment banker J.P. Morgan over the government's ability to restrict agreements between companies that would lead to monopolies in their markets. The Northern Securities Case (1904), which established President Theodore Roosevelt’s reputation as a “trust buster,” reached the Supreme Court in 1904. It was the first example of Roosevelt’s use of anti-trust legislation to dismantle a monopoly, in this case a holding company controlling the principal…
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