1. Wilson’s New Freedom

2. Wilson’s New Freedom Wilson’s plan for reform
Strict control of monopolies and protection of small businesses
Businesses were not “free”. They were hampered by tariffs, banks, and trusts
Wilson sought to bring down these “walls

3. Lowering Tariffs, Raising Taxes
Underwood Tariff Bill
Cut tariffs
16th amendment
Graduated income tax
Wealthy pay a higher % in taxes
Wealthy pay a higher % in taxes

4. Federal Reserve Act Placed federal control over bank reserves
Ensure that too much money doesn’t end up with only one bank, person, or region
Banks charged high interest rates, and controlled state reserves
This meant that if someone wanted to withdraw money, it might not be there if the bank wasn’t responsible
Wilson passes the Federal Reserve Act to prevent this

5. Wilson Stance Against Monopolies
Re-establish TR’s views of “good” and “bad” trusts
Federal Trade Commission
Monitor business practices

6. Wilson Stance Against Monopolies
Clayton Antitrust Act
Strengthened the Sherman Antitrust Act, which had been rarely enforced
This act now made clear what businesses could and could not do
Labor Unions now could organize more freely (Like the AFL with Samuel Gompers)
RR employees received an 8 hr workday
Workingmen’s Compensation Act

7. Legacy of Progressivism
Federal Government power grows…
Business
Natural resources
Protection of consumers and workers
More political activity by the people
Initiative, referendum, recall