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Ch 13

Ch 13. Progressivism- 1890-1920. Highly organized political movement that addressed many issues. Specifically social injustices and the desire for bigger government control and intervention with the poor and underprivileged. . Nineteenth Amendment- 1920 guarantees women's right to vote.

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Ch 13

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  1. Ch 13

  2. Progressivism- 1890-1920. Highly organized political movement that addressed many issues. Specifically social injustices and the desire for bigger government control and intervention with the poor and underprivileged.

  3. Nineteenth Amendment- • 1920 guarantees women's right to vote.

  4. Sherman Anti-Trust Act • SHERMAN ANTI-TRUST ACT • The Sherman Anti-Trust Act of 1890 (15 U.S.C.A. §§ 1 et seq.), the first and most significant of the U.S. antitrust laws, was signed into law by President benjamin harrison and is named after its primary supporter, Ohio Senator john sherman. • The prevailing economic theory supporting antitrust laws in the United States is that the public is best served by free competition in trade and industry. When businesses fairly compete for the consumer's dollar, the quality of products and services increases while the prices decrease. However, many businesses would rather dictate the price, quantity, and quality of the goods that they produce, without having to compete for consumers. Some businesses have tried to eliminate competition through illegal means, such as fixing prices and assigning exclusive territories to different competitors within an industry

  5. Trusts • Trusts were corporate holding companies that, by 1888, had consolidated a very large share of U.S. manufacturing and mining industries into nationwide monopolies. The trusts found that through consolidation they could charge monopoly prices and thus make excessive profits and large financial gains. Access to greater political power at state and national levels led to further economic benefits for the trusts, such as tariffs or discriminatory railroad rates or rebates. The most notorious of the trusts were the Sugar Trust, the Whisky Trust, the Cordage Trust, the Beef Trust, the Tobacco Trust, John D. Rockefeller's Oil Trust (Standard Oil of New Jersey), and J. P. Morgan's Steel Trust (U.S. Steel Corporation).

  6. 1904 National Child Labor Committee was established to begin putting an end to child labor. • In addition, many states also passed laws requiring children to attend school and not work at a young age.

  7. Temperance movement- to put an end to drinking alcohol. • 1920-1933- Prohibition- laws banning the sale and consumption of alchohol.

  8. Socialism • Political Idea that government should own and control industry for the community as a whole. Government would buy up privately owned business. Big business such as railroads were primarily the target of the socialist idea in the early 1900’s

  9. President Roosevelt • Was a Social Darwinist on international issues- survival of the fittest but a staunch Progressive when it came to domestic issues. • Big on Conservation of land and wildlife • During his Presidency: ICC was established, Agriculture dept gained power and control over food quality, Govt could monitor business and the Attorney General could bring lawsuits against big Trusts

  10. 1908- William Howard Taft elected President. Initially- Teddy Roosevelt was extremely happy. He felt that Taft was a great choice to continue the Progressive movement. Teddy Roosevelt would change his mind toward the end of Taft’s term and decide to run again for President.

  11. Election of 1912 • Taft and Teddy Roosevelt split the Progressive vote and thus the Democratic candidate Woodrow Wilson won the necessary electoral votes and therefore became President.

  12. Woodrow Wilson 1913 Passes 16th Amendment making it legal for the federal government to tax income directly. Thus, we now how Income Tax.

  13. Passes the Federal Reserve Act- Banks would have to keep a portion of their deposits in a regional reserve bank, which would provide a financial cushion against unanticipated loses. • At the center of the Federal Reserve system would be a Board of Governors, appointed by the president. The Board could set the interest rates the reserve banks charged other banks, thereby indirectly controlling the interest rates of the entire and nation and the amount of money in circulation

  14. Wilson Cont • He also est the Federal Trade Commission (FTC) to control unfair trade practices. Wilson believed that while Roosevelt's ideas on Trusts was heading in the right direction Roosevelt's idea of managing trusts with government control was not enough. Wilson wanted authority to disband companies that did not comply

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