Wilsonian Progressivism

1. WilsonianProgressivism (1912-1916)

2. 1912 Election • Republicans re-nominate Taft

3. Republican Party Platform • High import tariffs. • Put limitations on female and child labor. • Workman’s Compensation Laws. • Against initiative, referendum, and recall. • Against “bad” trusts. • Creation of a Federal Trade Commission. • Stay on the gold standard. • Conservation of natural resources because they are finite.

4. Roosevelt delegates join the Progressive Party • AKA “The Bull Moose Party” after TR’s claim that he was “strong as a Bull Moose” • Republican Party drained of liberals

5. I want to be a Bull Moose, And with the Bull Moose stand.With antlers on my foreheadAnd a Big Stick in my hand.

6. Progressive Party Platform NewNationalism • Women’s suffrage. • Graduated income tax. • Inheritance tax for the rich. • Lower tariffs. • Limits on campaign spending. • Currency reform. • Minimum wage laws. • Social insurance. • Abolition of child labor. • Workmen’s compensation.

7. Democrat William J. Bryan tosses his delegate votes to New Jersey Governor Woodrow Wilson

8. Democrats adopts platform essentially identical to the Progressives

9. Democratic Party Platform • Government control of the monopolies  trusts in general were bad  eliminate them!! • Tariff reduction. • One-term President. • Direct election of Senators. • Create a Department of Labor. • Strengthen the Sherman Anti-Trust Act. • Did NOT support women’s suffrage. • Opposed to a central bank. NewFreedom

10. August 1912: Roosevelt officially nominated as candidate for Progressive Party • Hiram Johnson of California is his running-mate

11. October 1912: Roosevelt shot by a fanatic while preparing to make a speech • Roosevelt finishes his speech before going to hospital

12. He was saved by his speech & glasses case • He is in hospital for 2 weeks

13. Socialist Party Platform • Government ownership of railroads and utilities. • Guaranteed income tax. • No tariffs. • 8-hour work day. • Better housing. • Government inspection of factories. • Women’s suffrage.

14. “The Working Class Candidates” Eugene V. Debs Emil Seigel for President for Vice-President

15. An Actual 1912 Ballot

16. Wilson wins election • Wilson 438 • Roosevelt 88 • Taft 8

17. 1912 Presidential Election

18. Election really hinged on the choice of Progressivism: vs.

19. Roosevelt’s New Nationalism • Continued consolidation of big business under government regulation • Woman’s suffrage • Social insurance • Minimum wage

20. 19th Amendment provides full suffrage to women in all the states, 1920.

21. Wilson’s New Freedom • Favored small enterprise • Entrepreneurship • Free functioning of unregulated & unmonopolized markets

22. Shunned social welfare • Believed in the benefits of competition • Wanted to fracture the big trusts & monopolies

23. Woodrow Wilson • Virginian • Racist • Princeton President

24. President should play a dynamic role in gov’t • Lacked common touch of TR • Morally righteous & uncompromising

25. Woodrow Wilson’s New Freedom

26. Wilson’s domestic policies call for an attack on the “triple wall of privilege” • Tariffs • Banking • Trusts

27. TARIFFS • Wilson makes unprecedented visit to Congress to deliver personal message to joint session (1st since Adams) • Describes the need to reduce the tariff

28. Tariff Reform

29. Underwood Tariff Bill • 1913: House passes after Wilson appeals “over their heads” to the public • Bill substantially lowers import fees

30. 1st substantial tariff reduction since the low tariff of 1857 • Lowers tariffs on 958 items an average of 10%

31. To make up lost revenues it creates a modest income tax on incomes over $3,000 per year • Income tax made possible by the ratification of the 16th Amendment (1913)

32. BANKING • National Bank Act (1863) created the National Bank system as a market for US bonds

33. Banks bought US bonds & issued sound currency based on bond’s value • Banking system & level of currency controlled by eastern banking interests

34. Problem of inelastic currency existed & made clear by the Panic of 1907 • Aldrich-Vreeland Act (1908) allowed for the printing of emergency currency backed by various forms of collateral

35. 1908: Senate banking commission of Senator Aldrich begins investigating the need for bank reforms • Recommends a 3rd Bank of the United States

36. Pujo Committee (1912) • House banking reform committee under Congressmen Pujo declares that the “money trusts” of J.P. Morgan & others are gaining control of the economy

37. Morgan testifies under oath & denies any wrongdoing

38. Morgan dies in 1913 in Rome owning 72 directorates & 47 of the country’s largest companies • By the 1930s, Morgan’s family interests control one-quarter of the nation’s corporate wealth - $74,000,000,000

39. June 1913: Wilson makes 2nd personal appearance before Congress & calls for reform of the banking system

40. Wilson endorses Democratic plan for decentralized bank under government control not Republican plan for Bank of US with 15 branches

41. Federal Reserve Act (1913) • Owens-Glass Act passed creating:

42. The Federal Reserve System • Federal Reserve Board • 12 Branch Federal Reserve System of Banks • Federal Reserve Notes

43. Federal Reserve Districts

44. Federal Reserve System acts as a banker’s bank • All national banks are required to be members • State banks are encouraged to join

45. TRUSTS • 1914: Wilson goes before Congress a 3rd time seeking to tame the trusts

46. Federal Trade Commission Act (1914) • Created a commission to investigate monopolization & unfair trade practices in all industries involved in interstate commerce

47. Clayton Anti-Trust Act (1914) • Attacked practices that “substantially tended” to lessen competition by outlawing:

48. Price fixing • Interlocking directorates • Acquiring stock in competing companies

49. Strengthened the Sherman Anti-Trust Act & exempted labor from its terms (human beings are not commodities) • Legalized strikes & peaceful picketing

50. Other Progressive Reforms under Wilson: