2.  Wilson’s “New Freedom” planned to attack what he called for the triple wall of priviledge: Trusts, Tariffs, and High Finance  Encouraged Congress to pass the Clayton Antitrust Act of 1914  This act prohibited corporations from buying the stock of another if it would create a monopoly  This act also made strikes, peaceful picketing, boycotts, and collecting strike benefits legal  Protected strikers from injunctions unless they were doing damage to the property

3.  Watchdog Agency  Had the power to investigate possible violations of regulatory statutes, to require reports from corporations, and end many unfair business practices  FTC under Wilson sent 400 cease and desist orders to companies engaged in illegal activity

4.  Wilson wanted to lower tariff rates, something big business didn’t let happen under Taft  Manufacturers sent lobbyists to stop tariffs from being reduced  Wilson denounced lobbyists and urged voters to monitor senators votes  This resulted in tariffs being cut deeply  With tariffs cut, how will the government make up that revunue ($)? Think-pair-share

5.  To make up the revenue Congress passed the 16 th amendment Federal Income Tax  The government now received revenue by taking individual and corporate profits  Higher incomes taxed at a higher rate than smaller incomes  Today this is the government’s main source of revenue

6.  Federal Reserve Act of 1913 divided the nation into 12 districts and a regional central bank in each district  Federal reserve banks (banks bank)could issue new paper currency in emergency situations, and member banks could use the new currency to make loans to their customers  Why is it important to monitor the amount of paper currency being printed? Think-pair-share  Federal reserve banks could transfer funds to member banks in trouble, this saves banks from closing and customers savings  This was one of Wilson’s greatest achievements as Presidents because the system still serves as the basis of the nation’s banking system today

7.  Wilson made promises of supporting African Americans Civil Rights and even gained the support of the NAACP, but did little once he was president  Wilson opposed federal antilynching legislation, arguing those crimes fell under state jurisdiction  Segregation in federal offices in D.C. (which were desegregated after reconstruction) began after Wilson’s election  Wilson appointed white Southerners who favored segregation to his cabinet  African Americans, especially those members of the NAACP that help get him elected, felt extremely betrayed by the President  Many believe Wilson’s attitude on Civil Rights came from his upbringing in the South during Reconstruction