Woodrow Wilson's Progressive Program

Woodrow Wilson's Progressive Program consisted of attacking tariffs, banking, and trusts or as he called "the triple wall

privilege". Wilson during his presidency aimed to bring free and fair competition to the economy. In order to accomplish this Wilson passed laws to regulate the market, trust busting, and created a federal bank.

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Wilson's first concern was reducing the ridiculously high tariff by the passage of the Underwood Tariff in 1913. I was the first time in 50 year that the tariff had been substantially lowered. Along with a tariff reduction the bill also included a graduated income tax increase for 1% to 6%.

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Federal bank.

Federal bank was a solution to over speculative private bank system. The federal bank was supervised by a Federal Reserve Board and consisted of 12 district banks. Ever since Americans use Federal Reserve Notes issued by the federally regulated bank system.

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Business regulation

Clayton Antitrust Act (1914) made the Sherman antitrust Act act much stronger. It also excluded unions from being targeted as trust.

Federal Trade Commission(1914) regulatory agency that investigated unfair trade practices in every industry except banking and transportation.

federal Farm loan act (1916) 12 regional federal banks that were established to provide loans to farmers at low interest rates.

Child Labor Act (1916) Made it illegal to ship products manufactured by children under 14 year of age over state lines. It had limited success because it was ruled unconstitutional in 1918 Hammer V.

Dagenhart




Sources
AMSCO
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