8 Flashcards
What was the Underwood Tariff Act?
Reduced Tariffs to their lowest levels in more than 50 years
What is the Graduated Income Tax?
Created an income tax the more you make the more you pay
What is the Federal Reserve Act?
A Three Tier Banking system
12 Federal Reserve banks
Bankers banks
Private banks
What did the a Federal Reserve Act help with?
Helped farmers by reducing interest rates
What is the Clayton Antitrust Act?
Specially listed rules for corporations
Could not big competing business
Couldn’t go below market price
Gave workers right to strike but no permanent property damage
What is the Federal Trade Commisin?
Authorized to investigate corporations
Could issue “Cease and Desist Orders” to target abusers of business
How did businesses abuse the system?
Mislabeling
False claims about products
Fraud
What did the New Freedom Program do?
Protected small businesses against big businesses
What did the Federal Farm Loan Act do?
Low-interest loans to farmers
The Federal Trade Commission had the power to?
Protect people from dying
Write laws to determine rules for businesses
The Federal Farm Loan Act ended?
Sharecropping
What was President Wilson’s main goal?
To lower Tariffs
