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Objective 2.13- Wilson's New Freedom

Added Nov 13, 2015 •

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Woodrow Wilson what did President in 1912 with this power is transferred from the Republicans to the Democrats Wilson a progressive sets out on an agenda to continue reforms on finance and economics Wilson's Legacy is that of an intelligent performer and father of the modern Financial system Wilson grew up in the South during the Civil War reconstruction he served as president of Princeton University and governor of New Jersey his political philosophy focused on breaking up power of Terrace trust and I financially and Granny greater freedom to the common America the first thing Wilson focus on was tariffs and tax reform Wilson Lobby Congress hard to lower tariffs that hat raised Wilson won the fight in Congress pass the Underwood act in 1913 Wilson use his bully pulpit and urge voters to monitor their representatives votes to make up glass Revenue Wilson propose a graduated income tax is progressive tax system would tax higher incomes more and lower incomes Less in 1913 the 16th what time it was ratified and added to the Constitution creating an income tax system make sure to pay your taxes next Wilson turn to Financial the banking system in monetary systems were in need of overhaul in the United States President Wilson signed the Federal Reserve Act established the Federal national banking system was broken up into 12 districts each district had a regional Reserve Federal Bank the Regional Federal Reserve Bank issued money in loans preventing failures and making the banking system more stable but that can also control interest rates to make loans easier or harder and therefore to control the economy what is still our banking system today deposit your money in Banks next we have trust and regulation Wilson continue the regulation of business in like Teddy Roosevelt and Taft in 1914 he created the Federal Trade Commission the FTC is a watchdog agency that has the power to investigate for 4 credenza regulatory violations meaning they would support any La violacion government ability to sue businesses in court if they do not comply with these laws the FTC still monitors business today its power includes approving mergers only at they are healthy for hey your companies are too big break it up a good example of how the Federal Trade Commission regulates mergers of companies today is it United Airlines add some merger with American Airlines the FTC would not approve this merger because it would form an unhealthy Monopoly on Airline fees causing fees to rise I make it harder for you to travel it's better to have competition in this case it means lower prices Wilson also continue the progressive agenda of trust busting E-40 Wilson signs the Clayton Antitrust Act it is undoubtedly the biggest antitrust law of the Progressive Era first it strengthened the Sherman Antitrust Act which Southern tide used to sue trust it prohibited forms from buying stock of competitors if it led to a monopoly this was the holding company strategy used by JP Morgan it also firm that labor unions had the right to exist and therefore unionized and couldn't be sued as trust themselves it also lawfully allowed strikes and other they strategies Samuel Gompers the labor leader called the act the Magna Carta of Labor  you workers of the right however like his predecessors volume tap Wilson did fail in one area that area is civil rights Wilson was a southerner and did nothing to help African Americans during the 1912 can you can't pay for African-American votes by pledging equality and promoting anti-lynching laws but once in office he backtracked for example he refused to stop the irrigation of the Capitol building and other DC offices after 50 years  he opposed every anti-lynching law that was put to vote siding states rights Southerner he felt that every state should deal with this issue in their own way and finally he appointed segregationist to Federal positions allowing them to control the important issues of the country Woodrow Wilson service president until 1920 near the end of his term he suffered a debilitating stroke which left him mostly incapacitate by this time is Progressive reforms had lost momentum and with the outbreak of World War 1 in Europe in 1914 the Progressive Era died out Americans begin to concentrate remaining neutral and focus their attention on foreign policy  for all this many successes and its few failures the Progressive Era has ramifications on Americans that we all benefit from today and it's Roosevelt Taft  and Wilson who deserve the credit

Uploaded by Mark Lovein.

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Objective 2.13- Wilson's New Freedom

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