P ROGRESSIVE ERA Economic

T HE CAUSES Monopolies in markets. There was little or no competition. Decrease in economy of 10%. FTC- Federal trade commission. Congress and Wilson strived to enforce Clayton and set up trade laws.

T HE GOALS Eliminate corporate trust who choked off. healthy competition among business. Introduced real competition to market place. Destroy monopolies economic trust. Open new economic market.

R EFORM Promoted trade by reducing tariff on foreign goods. The sixteen amendment allowed congress to impose income tax on citizen. The new government backed law that banned child labor and provided worker’s compensation.

W OODROW WILSON - A dedicated reformer - founder of progressive movement called "new freedom" - His policies as a president changed the economic shape of the country. - worked delicately as a president of the nation.

P ROGRESSIVE ERA E CONOMIC

16 TH A MENDMENT - gave congress the authority to levy and collect income taxes. it stated incomes may be taxed " from whatever source" but later it was ratified as a graduated income tax. - To makeup for the loss of govt. revenue. - To help pay for war. - A way to collect funds for government use.

16 A MENDMENTS

F EDERAL RESERVE SYSTEM - founded by Wilson and congress due to collapse of economy in it divided country in 12 districts and each with federal reserve bank. - formed to ease frequent panic that destabilize the economy. - to promote competition in the business industry.

P ICTURE CITATIONS "President Woodrow Wilson is cheered by an enthusiastic crowd as he passes through the streets of San..." World War I Reference Library. Ed. Sara Pendergast, Christine Slovey, and Tom Pendergast. Vol. 1: Almanac. Detroit: UXL, U.S. History in Context. Web. 6 Oct Woodrow Wilson became the nations twenty-eighth president in 1913, promising national reforms that..." UXL Encyclopedia of U.S. History. Sonia Benson, Daniel E. Brannen, Jr., and Rebecca Valentine. Vol. 8. Detroit: UXL, U.S. History in Context. Web. 6 Oct Cover illustration from Puck magazine, May 15, As the Constitution only allowed for direct..." Encyclopedia of the Supreme Court of the United States. Ed. David S. Tanenhaus. Vol. 4. Detroit: Macmillan Reference USA, U.S. History in Context. Web. 6 Oct Chart for The Federal Reserve System." Gale Encyclopedia of U.S. Economic History. Ed. Thomas Carson and Mary Bonk. Detroit: Gale, U.S. History in Context. Web. 6 Oct Reserve-Is-and-How-it-Can-Affect-You.aspx

W ORK C ITATIONS Wilson, Woodrow. "Excerpt from The New Freedom." World War I and the Jazz Age. Woodbridge, CT: Primary Source Media, American Journey. U.S. History in Context. Web. 6 Oct The 1910s: Business and the Economy: Overview." American Decades. Ed. Judith S. Baughman, et al. Vol. 2: Detroit: Gale, U.S. History in Context. Web. 3 Oct Sixteenth Amendment." Gale Encyclopedia of U.S. Economic History. Ed. Thomas Carson and Mary Bonk. Detroit: Gale, U.S. History in Context. Web. 5 Oct Mulder, John M. "Wilson, Woodrow." World Book Student. World BOOK, Web. 3 Oct BOOK