The Wilson Years- Major Event, Progressive Movement
Wilson won the election of 1912 against the Bull Moose Party. While Wilson was in office he supported lower tariffs, more regulations for business, and creation of a federal reserve. Wilson was a progressive candidate for the Democratic party, and he ran against Theodore Roosevelt. Wilson captured almost 42% of the popular vote and 435 electoral votes, to Roosevelt's 27% and 88 electoral votes.
While in the Presidency Wilson made many reforms, starting with tariffs. He lowered tariffs so that foreign imports would have a lower price and would force American prices down and drive people to buy American crafted and made items. Wilson then reformed banks, with the Federal Reserve Act. in 1913 this act created regional banks and these new banks were supervised by a Board of Governors. This Board could supervise the national banking system, they set interest rates that the reserve banks charged other banks, this allowed them to indirectly control the interest rates of the nation and the amount of money in circulation. Under Wilson's guise the Federal Trade Commission (FTC) was established. The FTC had the power to investigate companies and issue "cease and desist" orders for companies committing unfair trade practices, or that hurt competition, and if the business was in disagreement then the FTC could be taken to court.
Wilson won the election of 1912 against the Bull Moose Party. While Wilson was in office he supported lower tariffs, more regulations for business, and creation of a federal reserve. Wilson was a progressive candidate for the Democratic party, and he ran against Theodore Roosevelt. Wilson captured almost 42% of the popular vote and 435 electoral votes, to Roosevelt's 27% and 88 electoral votes.
While in the Presidency Wilson made many reforms, starting with tariffs. He lowered tariffs so that foreign imports would have a lower price and would force American prices down and drive people to buy American crafted and made items. Wilson then reformed banks, with the Federal Reserve Act. in 1913 this act created regional banks and these new banks were supervised by a Board of Governors. This Board could supervise the national banking system, they set interest rates that the reserve banks charged other banks, this allowed them to indirectly control the interest rates of the nation and the amount of money in circulation. Under Wilson's guise the Federal Trade Commission (FTC) was established. The FTC had the power to investigate companies and issue "cease and desist" orders for companies committing unfair trade practices, or that hurt competition, and if the business was in disagreement then the FTC could be taken to court.
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