Federal Trade Act n Set Federal Trade Commission
- Slides: 9
Federal Trade Act n Set Federal Trade Commission n Investigate Companies n Issue “cease and desist” orders against companies using unfair trade practices (or those that hurt competition n Goal: work with business to stop activities that limited competition
Clayton Antitrust n Banned tying agreements, companies could not force retailers to not sell their competitors products n Banned price discrimination, know all customers must be charged same rate n Declared Labor Unions were not organizations that hurt trade and were except from Antitrust laws
Underwood Tariff n Reduced tariff rates to increase competition in business leading to lower prices n Added an income tax
16 th Amendment n Legalized the Federal Income Tax (direct taxes on earnings)
Federal Reserve Act n Est. Federal Reserve System n Banks would keep a portion of money in regional reserve bank, to protect against losses n Also would set interest rates to help them fight inflation (loss in value of money)
Foreign Diplomacy n Wilson uses a minor incident with Mexico as an excuse to occupy Veracruz n US and Mexico brought to brink of war
n Wilson recognizes the Carranza government Comes into conflict with Pancho Villa n Wilson sends in Gen. Pershing to try and capture Villa = epic fail n
n Wilson refuses Carranza’s demand to withdraw US troops sent into Mexico to capture Pancho Villa n Anti-American feelings
