WILSON’S NEW FREEDOM17.5

OBJECTIVES

Evaluate what Wilson hoped to do with his “New Freedom” program.

Describe Wilson’s efforts to regulate the economy.

Assess the legacy of the Progressive Era

KEY PARTS

Wilson and the Democrats Prevail Wilson Regulates the Economy Progressivism Leaves a Lasting Legacy

INTRODUCTION

Read section 17.5 Answer critical thinking questions 4&5.

WILSON AND THE DEMOCRATS PREVAIL

In 1912 the Republican Party split over the issue of reform.

Those who wanted a more active government formed the Progressive Party, their presidential candidate was Theodore Roosevelt. The Loyal Republicans continued with William Howard Taft as their Presidential candidate.

The split gave the opportunity for the Democrats and their candidate Woodrow Wilson to win the White House.

CONT.

Wilson shaped his ideas into a program he called the New Freedom.

His plan looked very similar to Roosevelt’s New Nationalism. New Freedom Plan would place strict government controls on corporations.

In Wilson’s speeches he spoke about providing more opportunities for more freedom for small business.

CONT..

In the Presidential election Wilson did not win the majority of the popular vote. However, he received more than four times the number of Electoral College votes.

Wilson was the first man born in the South to win the Presidency in almost 60 years.

WILSON REGULATES THE ECONOMY

Once Wilson won the presidency he attacked what he called the “triple wall of privilege.”

This was referring to the tariffs, the banks, and the trusts that blocked businesses from being free.

His first act was to lower tariffs on imported goods and raise taxes. This was called the Underwood Tariff Act of 1913.

CONT.

The second thing Wilson tried to reform was the banking system.

The country had no central authority to supervise banks. So interest rates for loan would fluctuate.

Federal Reserve Act of 1913 was pushed by Wilson this put all National Banks under Federal Control. Which is still the same way it is today.

CONT..

The third act that Wilson focused on were trusts. He believed that trusts were not dangerous as long as they did not engage in unfair practices.

In 1914 he persuaded Congress to create the Federal Trade Commission (FTC).

The FTC was to monitor business practices and watch out for false advertising or dishonest labeling.

PROGRESSIVISM LEAVES A LASTING LEGACY

The political reforms of the Progressives had a lasting effect on the American political system.

The Initiative, referendum, and recall and the Nineteenth Amendment expanded voters influence.

Also the Progressive years greatly expanded the government’s control in managing natural resources, especially in the West with dams and National Parks.