James Rudolph Garfield, as a physician, administers a large dose labeled “Federal Franchise” to a bloated, elderly man labeled “The Trusts” sitting in a chair with his feet soaking in a tub labeled “Rough on Railroads.” On a table are various medicines named after states, and on the right, Uncle Sam, as a nurse, is standing in the background. Caption: Dr. Garfield — This may reduce your income, but it will steady your nerves.
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Comments and Context
One of Theodore Roosevelt’s many nicknames was “The Trust-Buster,” and with reason. Early in his presidency a federal suit was filed against the Northern Securities Company. It rattled Wall Street; Wall Street’s J. P. Morgan pleaded that Roosevelt could have sent “his man” to see Morgan’s “man” and settled whatever the problem was. But Roosevelt’s intention was not to tend to a mistake or minor detail; after decades of growing complaints about monopolies and the restraint of trade, the president had come to believe that trusts — powerful, colluding, sometimes secretive organizations — needed to be addressed.