Progressive Politicians Wilsons New Freedom Wilsons Reforms First

Progressive Politicians Wilson’s “New Freedom”

Wilson’s Reforms First Progressive Act in Office: – Created the secretary of labor as a cabinet position First priority as president = lower tariffs Tariff – tax on imports or exports Wilson went in person to Congress to ask them to lower tariffs – very uncommon Underwood Tariff of 1913 – Included a graduated income tax

Banking Reforms No central fund for banks to borrow – When a bank failed – people lost all $ Conservatives: – Wanted more control of nation’s private banks Progressives: – Wanted the government to run the banking system

Federal Act of 1913 Combined the progressive and conservative view on banking Created a three-tier banking system for the nation Tier 1 – Federal Reserve Board Tier 2 – Federal Reserve Banks Tier 3 – Private Banks

Big Business Reform Wilson’s main goal - limit the power of monopolies over small businesses What Act did Wilson get approved to limit big business? ?

Clayton Antitrust Act-(1914) Clarified and extended the Sherman Antitrust Act Ex: companies cannot sell goods below cost to drive out competitors

Federal Trade Commission Authorized to investigate corporations Could issue cease and desist – Monopolies – Mislabeled products Trying to help the American consumer and small business

Labor Reform Federal Farm Loan Act (1916) – set up 12 federal farm-loan banks Adamson Act – Reduced railroad workers’ workday from 10 to 8 hours

Federal Workmen’s Compensation Act Provided benefits to federal workers injured on the job Also allowed laborers to strike

Keating-Owen Child Labor Act Outlawed the interstate sale of products produced by child labor Declared unconstitutional by the Supreme Court Child labor still needed to be dealt with