The Wilson presidency: Progressivism and the New Freedom Flashcards
How was Wilson a traditional Democratic politician?
He was a Southerner who relied on the Solid South for his core political support. His high moral principles did not extent as far as campaigning for racial equality.
What happened to Bryan in Wilson’s administration?
Bryan was given the prestigious position of Secretary of State.
What was ‘New Freedom’?
A slogan used by Wilson in the 1912 election campaign differentiating his Progressive ideas from those of Roosevelt.
What were Wilson’s progressive beliefs?
He believed in a return to freedom for small businesses, and open competition instead of domination by big corporate cartels.
What did Wilson say to challenge government power in his election campaign?
‘The history of liberty is the history of the limitation of government power, not the increase of it’
What had been a major part of Wilson’s election campaign?
Demands for tariff reform; he had cleverly depicted conservative Republicans as ‘addicts’ of high protective tariffs.
How did Wilson regulate the tariffs?
After a long battle with opponents in the House and the Senate in 1913, Wilson forced through the Underwood-Simmons Tariff Act, slashing tariff rates by up to 20%. He also imposed a new income tax to compensate for lost tariff revenues.
What was another theme of the New Freedom?
The need to reform banking and the currency.
What did Wilson bring in to reform banking and currency?
The Federal Reserve Act, establishing a strong central bank which was under public regulation and control.
What were all national banks compelled to join?
One of the 12 regional Federal Reserve Banks; in turn these regional banks were supervised by the Federal Reserve Board in Washington.
What did the Federal Reserve system give focus to?
A monetary policy in the US and provided protection against financial panics like those of 1893 and 1907.
What had happened to the Federal Reserve 20 years later?
It was one of the chief weapons used by Franklin Roosevelt to combat the banking crisis of the Great Depression.
What was there strong support in Congress for?
Further regulation of big business. In 1914 Wilson set up the Federal Trade Commission to inspect and regulate corporate business methods, and to prevent unfair practices.
Why was the Clayton Antitrust Act passed?
To extend the powers of the 1890 Sherman Antitrust Act. Wilson’s administration enforced the Clayton Act energetically, launching nearly 100 antitrust cases against big businesses.
What else did Wilson’s reform agenda include?
A range of measures to improve protection for the rights of workers and trade unions.
