Contrary to "popular" wisdom... it was a time period of INCREASING, rather than decreasing, intervention by government (federal and state) in the economy... beginning in earnest during the Civil War years with the new banking acts pushed through by the Lincoln Administration that began the process of reestablishing a "national bank" which subsequently set us back on the path to boom and bust cycles (called "Panics" in those days).
Furthermore, as far as monopolies (the "boogeymen" of the era upon whom so much blame is cast by modern historians) go - again contrary to "popular" wisdom and "mainstream" history - rather than taking on the monopolies (called "trusts" in those days) to reign in their abuses... government (at all levels including the federal) actually encouraged their creation and development through anti-free-market policies that enabled large firms to avoid having to engage in real competition with small-medium sized firms through all kinds of subsidies, regulations, exclusionary contracts, and other benefits. In fact, if you look at most of the giant firms in the major industries of the era (railroads, steel, oil, telephones/telegraphs, etc.) that were considered to be the worst of the "predatory" monopolies you'll find that many actually partnered with government to undermine their competition... what many of us refer to as "crony capitalism" or perhaps "corporatism."
As it turns out, even in the late 19th century, the business elites in America, rather than standing against the trending statism in the name of freedom and capitalism, instead preferred to use the coercive power of government to undermine their competition, redistribute to themselves other people's money, and protect themselves from the consequences of their own bad decisions.
