abeka history 11 section 21.5

underwood-simmons act

first major tariff revision since the Civil War; one of the most significant tariff acts in American History

16th amendment

created the federal income tax on 1913

federal reserve act

created a privately controlled central banking system under the control of the federal government

federal reserve bank

fill in the blank

the federal reserve act divided the nation into 12 banking districts with a ________ _________ _____ in each district

reserve requirement

% of deposits that member banks are required to hold on reserve

discount rate

rate of interest charged to member banks that borrow money from Federal Reserve Banks

federal trade commission (FTC)

investigated businesses engaged in interstate commerce to detect unfair trade practices

clayton antitrust act

declared certain business practices illegal

interlocking directorate

same men serving on the board of directors for several different companies

holding company

a corporation whose business held stock in other corporations (can create a monopoly)

nicaragua

fill in the blank

The US paid ________ $3 million for a perpetual option to build a canal through their land 

danish west indies

fill in the blank

The US purchased the ______ _____ _____ in 1920 for $25 million

virgin islands

They were used as a naval base to protect the Panama Canal 

victoriano huerta

fill in the blank

Mexico’s dictator ________ _____ was threatening American Businesses in Mexico 

venustiano carranza

fill in the blank

Huerta fled Mexico after ________ _______ took control of the government 

pancho villa

fill in the blank

Carranza’s former ally _______ _____ attacked American civilians in Texas

john j. pershing

sent to capture Pancho Villa