The purpose of the trusts established in the United States in the late 1800s was to decrease government spending and the size of the federal budget deficit.

Question

Quizplus · Accepted Answer

The purpose of trusts established in the late 1800s was to consolidate power and control in industries such as oil, steel, and railroads, often leading to monopolies that stifled competition and innovation. It was not intended to decrease government spending or the size of the federal budget deficit. In fact, the government had to step in with antitrust laws to break up these trusts and restore competition in the market.

The Purpose of the Trusts Established in the United States