1. Progressive Politicians
Wilson’s
“New Freedom”

2. 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

3. Banking Reforms No central fund for banks to borrow Conservatives:
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

4. 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

7. 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??

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

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

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

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

12. 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