Acts
under President Woodrow Wilson
Underwood Tariff Bill 1913
lowered tariffs and import costs; b/c of 16thA, created graduated income ta
Federal Reserve Act 1913
decentralized banks in gov’t hands; 12 regional locations,
each with a centralized bank
Federal Reserve Board-appointed by President
-“bankers bank” owned by financial institutions
-guaranteed public control
-able to issue increased paper money in circulation in times of crisis
Federal Trade Commission Act 1914
appointed by president
to root out corruption in interstate commerce
Clayton Anti-Trust Act 1914-extend Sherman Act to included price
discrimination and interlocking directorates sitting
on board of dir for competing firms)
-benefit for labor- labor and agriculture exempt from anti trust busts and
permitted to
organize and picket peacefully
-hailed by Samuel Gompers as ending human labor as
mere commodity
Wilson’s Progressivism
Federal Farm Act 1916-gave farm loans and credit for low interest;
platform of Populists for years
Warehouse Security Act 1916
loans for staple crops, deferral highways, agricultural extensions for state
colleges
LaFolettes Seamen Act 1915
Protected Merchant marines
Workingmen’s Comp. Act 1916
Disability for civil serve employees
Adamson Act 1916
8 Hour work day for train employees for trained employees working in interstate
bar
1916- nominated Louis Brandeis, who was Jewish to the US Supreme Court