There were three main issue that President Woodrow Wilson wanted to address almost immediately in office. He called them the "triple wall of privilege": the tariff, the banks, and the trusts. Three Acts would be created to address each of these issues, the first of which was The Underwood tariff Act. Presented by President Woodrow Wilson before Congress, the Underwood Tariff was quickly passed, and thus substantially reduced import fees, solving the first of these issues. Next, President Wilson would address the issue of the bank. Current banks were inadequate, and would not be able to mobilize efficiently in times of nationwide financial crisis. His proposal for this issue was the Federal Reserve Act. This Act would decentralize the banks,
