Progressivism Flashcards
progressivism
the act of correcting society’s wrongs due to the rapid growth of cities and industry through political and social reform movements
3 areas of focus for improvement for progressives
- promote social welfare (safety, health, working conditions).
- expand democracy (more voting opportunities)
- create economic reform (regulating business)
muckraker
a writer who tried to expose corruption in American society and fuel public demand for reform
direct primary
an early election in which voters narrow down the field of candidates running for public office
recall
to vote elected officials out of office through petitions and elections (state legislative)
referendum
a bill created by the legislative branch of a state that citizens vote and decide on
initiative
a bill proposed by a citizen that is voted on by others in a state
Sherman Antitrust Act
a law made in 1890 that outlawed corporations to gain control of industries by forming trusts/monopolies
Theodore Roosevelt
president after McKinley in 1901, created a “square deal” to ensure fairness for workers, consumers, and big businesses
conservation
controlling resource usage
civil rights
equal rights granted to all citizens
trust
a kind of monopoly formed when businesses join together in order to hold stock
socialism
system in which the state controls the economy
William Howard Taft
Republican president handpicked by Roosevelt in 1908 to carry on his own progressive policies, like attacking
trusts; passed 16th and 17th Amendments
16th Amendment
gave Congress the power to create federal income taxes
17th Amendment
gave voters the right to elect Senators directly
Bull Moose Party
Progressive, political party created during Taft’s presidency when a split developed between Taft and other Republican leaders who supported TR
Clayton Antitrust Act
law that further prohibited monopolies and business practices that lessened competition; allowed labor unions to expand and legalized strikes
Federal Reserve Act
law that created the modern banking system and passed by Wilson
prohibition
A ban on the production and sale on alcohol
18th Amendment
made prohibition federal law; banned production, transportation, and sale of alcohol
Susan B. Anthony
President of National American Women Suffrage Association (NAWSA) and suffrage leader
19th Amendment
Gave women the right to vote in 1920
settlement houses
community center that provides education, healthcare, and daycare to the poor
suffrage (women)
the right to vote
How many banks did the Fed distribute money to?
12 regional banks across the country
How did the Fed make money?
Charges the banks interest rates that they pass onto their customers
Can you borrow or deposit money at a FRB?
no
T or F? Taxes paid to the US gov are deposited in the FRB for the gov to spend
True
T or F? The Fed has to keep records of all the money owed by the US gov which are in the form of loans, bills, and bonds
True
Will a check ever pass through the FRB?
Yes
Can the Fed buy or sell gov bonds?
yes
How does the Fed control consumer borrowing?
by raising or lowering the interest rates they charge to the banks
Who created the Federal Reserve System?
Wilson in 1913
Who is in charge of running the Fed?
the Board of Governors
