Taft and Wilson- Progressive Presidents?

William Howard Taft Taft defeats William Jennings Bryan easily Expectations: Progressives thought he would do what Teddy did- a true progressive. Conservatives Republicans thought he would scale it back

Trustbusting Continued… Taft busted twice as many trusts as Teddy Went after US Steel and J.P. Morgan- a merger approved by Teddy Teddy viewed this as a personal attack- the beginning of a major conflict between the two

More Taft Progressivism Conservation: created Bureau of Mines, added land to forest reserves, and created federal oil lands Mann Elkins Act (1910): ICC gained more power over railroad rates and allowed them to regulate telephone and telegraph companies Supported and promoted the 16th Amendment: Progressive Income Tax Children’s Bureau (1912): bureau to investigate “all matters pertaining to the welfare of children and child life.”

Trouble in Paradise- Progressives Mad at Taft Payne-Aldrich Tariff: Taft promised to lower the tariff but agreed to this tariff which rose taxes in many areas. He did not stand up to conservatives and seemed to agree with them. Pinchot-Ballinger Controversy: Pinchot was a respected conservationist and Progressive. Richard Ballinger, Secretary of the interior was a conservative accused of selling public lands for personal profit. Taft supported Ballinger and fired Pinchot

Teddy is Back! Osawatomie Speech: Social justice only possible through a strong federal government: “stewards of the people” “new nationalism” Teddy showed support for graduated income tax, inheritance taxes, workers compensation, child labor laws, lower tariffs, more regulation.

Teddy Roosevelt 1912 “We stand at Armageddon” and “we battle for the Lord”- Teddy led his supporters out of the Republican Convention and started a new party: The Progressive Party AKA Bull-Moose Party Stood for stronger progressive reforms: breaking up monopolies, regulation of industry, etc.

Assassination Attempt Teddy Roosevelt shot by a man who was told in a dream by McKinley to do it Bullet was slowed by 50 page speech, heavy coat and eyeglass case. Mob was beating man while calm Roosevelt said, “Don’t hurt him, bring him here. Why did you do this.?” Bullet was lodged on 4th rib and Roosevelt gave his speech without going to the hospital Friends, I ask you to be as quiet as possible. I don’t know whether you fully understand that I have just been shot” (as he showed his speech with a bullet hole)

1912 Election Results

Woodrow Wilson- New Freedom Wilson pledged to bring back free and fair competition in the economy Attacked “triple wall of privilege”- tariffs, banking, and trusts

Progressive Measures Underwood Tariff (1913)- reduced tariff rates for first time in 50 years Graduated Income Tax instituted (1-6%) Federal Reserve Act (1914)- created 12 district banks, federal reserve notes, federally regulated banking ever since

Business Regulation Clayton Anti-Trust Act (1914)- strengthened Sherman Anti-trust act and prohibited labor unions from being included in prosecution Federal Trade Commission (1914)- regulatory agency that could investigate unfair trade practices in any industry (except banking and transportation)

Other Reforms Federal Farm Loan Act (1916)- 12 farm loan banks created to provide low cost loans to farmers Keating-Owen Act (1916)- prohibited shipment of goods produced by underage children (14) across state lines. The court ruled this unconstitutional in Hammer v. Dagenhart (1918)