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 –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 Trying to help the American consumer and small business

10. 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

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