To honor the gods that’s the answer
Answer:
Some of the major issues that Abraham Lincoln faced while he was in office included the secession of many of the Southern states, the outbreak of the Civil War, worry over whether the Emancipation Proclamation could withstand a legal challenge, and a low approval rating from his constituency.
The US gained its independence on the 4th of July of 1776. During this time the world's economic system was based on commerce. Hence the author choosing to portray Minerva, the goddess of commerce, for a painting about America's independence. Commerce was key to a country's economy and in order to succeed in being an independent country. Also, one can see the ship that is painted in the picture's background.
On the other hand, wisdom was key to the formation and success of an independent nation. Minerva was also the goddess of wisdom. The country needed the wisdom to decide how to run themselves, make their own laws, and create a government.
Minerva was also the goddess of crafts. Crafts represented tradable goods that could impulse the country's economy. A successful country was one that was able to produce elaborate goods that had added value to them: instead of just exporting primary goods. Therefore, crafts were key for a successful and strong economy.
<span>Business leaders pushed for horizontal integration. Rockefeller’s Standard Oil began buying out competitors. By 1880, it controlled about 90 percent of the U.S. oil refining industry, a near monopoly. When People opposed this horizontal integration fearing monopolies will charge heavily the business leaders found two ways to overcome this obstacle by creating Trusts and Holding Companies.
A trust is a legal arrangement that allows one person to manage another person’s property. The person who manages that property is called a trustee. The trustees could control a group of companies as if they were one large, merged company. In 1882 Standard Oil formed the first trust. Standard Oil had stockholders of that company give their stock to Standard Oil trustees in exchange for shares in the trust and its profits.
A new general incorporation law in 1889 allowed corporations to own stock in other businesses without special legislative permission. Many companies used the law to create holding companies. A holding company does not produce anything itself but owns the stock of companies that do produce goods. The holding company manages its companies, effectively merging them into one.</span>
