Theodore Roosevelt's New Nationalism called for the elevation of "the public welfare" over the rights of property.

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This is true. In his 1910 speech, Roosevelt stated that "the prime need is to change the conditions which enable the individuals of immense wealth to accumulate their wealth" and called for a stronger role for the government in regulating industry and protecting the welfare of the American people. He believed that the public interest should take precedence over individual rights to property.

Theodore Roosevelt's New Nationalism Called for the Elevation of "The