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45 Cards in this Set

  • Front
  • Back
Progressive Movement
Gov Cont. of biz in public interest
Theo Rosevelt
VP under Mickinly, mckinley dies theo gets prez
Platform for prez
Square Deal for all americans
Square Deal
-enforce laws already passed
- stop looking other way (sherman anti trust, ICA)
-Nickname "Trustbuster"
-1903 est dept of comm & labor
-Pass of Expedition act, gives precedent to crt. cases w/ sherman, ica
Northern Securities Corp (Controlled RR. Comp)
-run by JP
-1904 corp dissolved
Standard Oil (By Rockefella)
h/e not the most effective break up because its easier to break something before it even starts
(pass laws to prevent trusts from forming)
Coal strike of 1902- change of the tide
May 1902- 150000 miners walk off
-represented by umW (United Mine Workers)
-prez Mitchell -offered negotiation
-coal price rose
-white house threat to send troops to take over factory
-publ for the workers
-jp morgan aid says lets them go.
Hepburn act
Strict control of RR indus
-abolished free pass for politicians
-inc jurisdiction of the icc
Pure food and Drug Act
Called for fed inspection of mean
-upton sinclair the jungle
William Howard Taft as prez
Teddy gets him elected
calls congress in session to lower the tarriff
fall of taft
-passing of Payne Aldrick tarriff
-didn't really lower taxes
-destroys him politically
Man Elking Act
Further extended power of ICC
2 New Amendments
16- income tax
17- direct pop vote for senate
Election of 1912
Rosevelt vs Taft vs Wilson
Old Roosevelt
-grew negative
-thought big biz would never do the right thing
-New Nationalism, new regulations, more gov
What parties?
Taft- Repub
Roosevelt- bull moose (prog rep)
Wilson- democratic
New freedom
-govt only regulates to provide equal oportunity
-diff way to provide same thing
Wilson Steps taken
1-calls congress over tariff
-underwood simmons tariff
-1st lowering since 1857
-est 1st fedt income tax rates
2- Banking currency system
-1907 panic & banks stop lending money
- w/out money big lending big biz doesnt work out
- gets natl' monetary comm to solve problem
Natl' monetary comm's problems found in banking
1- banks lack stablility- nothing in reserve
2- no central control of Banking process
3- currency is too inflexible
4- too much concentration of Capital via NYC (stock market)
1913 fed reserve act
est 12 fed reserve districts
-all natl' banks must join
-natl' bank= issued stock
-fed reserve helps other banks
Promissory Note
A promist to pay back
Secured loans
Have colateral to back up
No colateral- higher interest rate
Discount Rate
-interest Fed res. charged member banks
- controls money flow nationally
Raise discount rate
Not enough money in system?
Expand currency, low interest = more loans
Fed Control
7 people on board that changes every 7 years.
(Alan greenspan- only agency govt doesn't play politics)
Clayton Act (1914)
1- ruinous price cuts
2- tying contracts
3- inter corp investment
4- interlocking directories in large corp & banks
Fed Trade Commision (ftc)
-investigat/ regulate biz practices
Fed farm and loan Banks (12)
low interest loans for farmers
Fed Highway Act
gave states money to build roads
Keeting owen child labor act
-forbade kids under 14 from working interstately
Adamson act
8 hour day for RR workers
William White
claimed the gov was an "alliance of govt/biz in favor of biz."
Journalists who stirred up the muck pot
Ida Tarbell
-history of standard oil
-exposed rockefeller
Ray Stamard Baker
Following the color lines
-racism in n and s
Lincoln Steffens
govt corrupt in cities
Frank Norris
the octopus
-problems rr abused wheat farmers in the west
Upton Sinclair
the jungle
-problems with meat packing
Reg of private enterprise
Robert La Follette- father of progressivism
Purpose of income tax
-robin hood syndrome. take from rich give to workers
Roosevelt fed levels
-1st corp tax 1909
-fed income tax amend 1913-#16
-public ultities- electricity, phones, water - most reg industry
Protection of consumers
-products of a certain quality
-building codes
no longer "let the buyer beware
Workmans comp
42 states have it by 1921