Woodrow Wilson (1913-1921) Flashcards
Q: What was Woodrow Wilson’s political affiliation and stance?
Woodrow Wilson was a Democrat from the South and a progressive.
What were the key goals of Wilson’s New Freedom Domestic Policy?
The key goals were to bust the remaining trusts (finish off the monopolies), reform the banking system, and reduce tariffs.
What was the purpose of the Federal Trade Commission?
The Federal Trade Commission was created to outlaw monopolies.
How could monopolies be broken up under Wilson’s policies?
Monopolies could be broken up if they practiced unlawful competition (making prices super low to drive out competition and then raising them), false advertising, and bribery through the Clayton Antitrust Act (enforcing the Sherman Act).
What did the Federal Reserve Act do?
The Federal Reserve Act allowed for 12 national regional banks to move money from banks that were full to banks that were empty, acting as the heart of the economy.
What was the impact of the Underwood Tariff?
The Underwood Tariff reduced tariffs, leading to increased competition from the world, which meant lower prices and better quality goods.
What did the Harrison Act do?
The Harrison Act made narcotics illegal in the US
