IV. BIG BILL TAFT

IV. Taft William Howard Taft –Taft was TR’s successor in 1908, and was expected to carry on TR’s policies, both home and abroad. (Taft once again beat Bryan in the election)

IV. Taft However, he largely followed his own, including: –More Active Trustbusting (99 in all) –Supported Big Business through high tariffs –Not a strong conservationist

IV. Taft Republican Split –TR, not one to remain in the background, was angered by Taft’s presidency, and was determined to win back the White House. Took issue with Taft’s trustbusting Lack of conservationist vigor

V. Election of 1912 Taft secured the Republican part nomination, forcing Roosevelt to found his own party, the Progressive Party.

V. Election of 1912 The Election of 1912 –Republican: Taft –Bull-Moose/Progressive: TR –Democratic: Wilson –Socialist: Debs The bitter division in the Republican party virtually guaranteed a democratic victory.

V. Election of 1912 Nonetheless, progressive ideology had been given a thorough mandate by the election.

VI. Woodrow Wilson Woodrow Wilson –Born in Virginia in 1856 and raised in Georgia and South Carolina, –Early memories included seeing Yankee soldiers marching into Augusta at the end of the Civil War. –Bored as a lawyer in Atlanta, he enrolled at Johns Hopkins University, where he earned a Ph.D. in history and political science in 1886.

VI. Woodrow Wilson As governor of New Jersey… –fought machine politics and party bosses, and secured campaign finance reform –He also signed primary law permitting voters rather than party bosses to nominate candidates –Workman’s comp. law

VII. Wilson’s Domestic Policies A. Tariff Reform –Tariff’s remained high since the McKinley days. –Wilson forced through the passage of the Underwood Tariff, which severely cut tariff rates. –Revenue lost was replaced by the first permanent income tax.

VII. Wilson’s Domestic Policies B. Banking Reform –The US economy was hampered by “inelasticity” of its money supply. –Decrying calls for a new Central Bank, Wilson and the Democrats created the Federal Reserve Banking system to control inflation –While making the money supply more elastic, it was not centralized into area of the country, but divided into a number of regional central banks.

VII. Wilson’s Domestic Policies C. Trustbusting –Wilson helped to create the Federal Trade Commission, which investigated claims of fraud, false advertising and other practices in large companies. –Wilson also spearheaded the Clayton anti- trust act, a law that was more effective in regulating trusts rather than labor unions!

Review In what ways were the presidencies of Roosevelt, Taft and Wilson defined by Progressivism?