1 / 7

Wilson’s New Freedom

Wilson’s New Freedom. Chapter 17 Section 5. I Progressive Reform under Wilson A. Wilson’s New Freedom. Became Dem. Gov. and then left party affiliation to institute reform legislation Ex= direct primary/workmen’s comp Implemented “new Freedom” through the “triple wall of privilege” Trusts

dieter-santana
Download Presentation

Wilson’s New Freedom

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Wilson’s New Freedom Chapter 17 Section 5

  2. I Progressive Reform under WilsonA. Wilson’s New Freedom • Became Dem. Gov. and then left party affiliation to institute reform legislation • Ex= direct primary/workmen’s comp • Implemented “new Freedom” through the “triple wall of privilege” • Trusts • Tariffs • High finance

  3. B. Clayton Antitrust Act Clayton Anti Trust Act • Aimed to strengthen Sherman Antitrust by making business practices that created monopolies illegal • Prosecuted officers for breaking law • Conservative cts. Could not prosecute trade unions Federal Antitrust Act • Set up a “watchdog” agency called the Federal Trade Commission (FTC) • Investigated pos. violations (ex=inaccurate label) • Could issue “cease & desist order” for illegal practices

  4. C. New Tax System • Believed high tariffs created monopolies by reducing comp. • Secured the Underwood Tariff= reduces tariff rates for 1st time since civil war • Denounce lobbyists & urged citizens to watch their senators votes • EFFECTIVLY USED THE BULLY PULPIT

  5. D. Federal Income Tax • Lower Tariffs led gov’t to look for another source of revenue • 16th Amendment legalized fed. Income tax • Income tax=tax on profits and earnings • Graduated tax= higer wage higher tax, lower wage lower tax • Brought more revenue than tariffs • Main source of fed revenue until this day

  6. E. Federal Reserve System • Neededto make credit available outside of NY and Boston • And adjust amount of $ in circulation • FEDERAL RESERVE ACT SOLVED BOTH PROBLEMS

  7. Federal Reserve Act • Divided country into 12 regions/disticts • Each had own fed. Bank • Fed bank issue paper $ to other member banks to make loans to their customers • Fed bank could transfer $ in emergency to sace banks from closing and protect customer $$ • Federal reserve system serves as basis of our system today

More Related