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‘new freedom’
used to describe Wilson’s domestic reform programme which wanted better economic conditions for labour, farmers & small businesses, reduced tariffs and regulation of trusts
the triple wall of privilege
trusts
banks
tariffs
Federal reserve Act
1913 - created the first central banking system in the US, 12 banking districts under the supervision of the Federal Reserve Board
Federal Reserve conditions
all banks participating had to invest 6% of their surplus in the reserve bank
federal reserve could lend money to members at rediscount rates - supply of money no longer fully dependent on gold in the federal reserve
MORE CENTRALISED SYSTEM
by 1923, banks join the federal reserve
70% of all US banks
Federal Trade Commission
1914 - investigated corporations and stopped unfair practices
under Wilson the FTC issued 400 cease-and-desist orders
established an important principle of federal regulation of business
Clayton Anti Trust Act
1914 - gave more powers to those enforcing the Sherman Anti Trust Act
Gompers called it a ‘magna carta’ for the labour cause
Underwood Tariff
1913 - significantly reduced many duties on wool, iron, steel, food etc
seen as an attack on business
loss of gov. revenue compensated by income tax
income tax/16th amendment
initially only paid by those with an income over $4,000
Revenue Act
1916 - expanded income taxation into business profits and estates as well
by 1917, gov was receiving more money on income tax than it ever had from tariffs
Federal Child Labour Act
1916 - dealt with 2 million children under 16 in work
made goods from child labour barred in interstate commerce
BUT found unconstitutional by the Supreme Court in 1918
Workmen’s compensation Act
1916 - ensured federal employees absent from work due to illness/injury received financial assistance
Adamson Act
1916 - maximum 8hr day for railroad workers
Coal Miners’ Strike, Colorado
1913 - Wilson shows little support to trade unions, and sends federal troops to break down the strike
treatment of African Americans
on racial matters Wilson appeased Conservative Southern democrats
placed segregationists in charge of federal agencies, expanding racial segregation in governmen/washington
screened 1915’s Birth of a Nation in the White House
his actions upset NAACP, who hoped Wilson would help
1916 election
a narrow win for Wilson, campaigned on the slogan ‘he kept us out of the war’
Republicans seemed less divided than the 1912 election with the splinter party, now had a moderate candidate
evidence Wilson was not that progressive
after 1914, few reforms took place for the next 6 years
little done on the welfare front
opposed anti-lynching legislation & did not oppose segregation
