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Section 2
William Howard Taft -Became president after winning 1908 election -TR told people to vote for Taft -Ran against Eugene V. Debs (socialist) and William J. Bryan (Democrat -Very large man -“I don’t like politics” (had long history of public service) -Followed TR’s lead on trustbusting -Lost faith with progressives even though he was progressive -Allied himself with conservative Republicans
Progressive Amendments -16th Amendment -Income tax -Spread the cost of running the gov’t to more people -17th Amendment -Direct election of US senators
Election of 1912 -TR didn’t like how Taft was not a pure progressive -Ran for Republican nomination -TR very popular -Taft gets nomination (rigged) -TR forms “Progressive Party” (Bull Moose) -Shot while giving a speechàsurvives -Democrats chose Woodrow Wilson -Governor of New Jersey -Very intelligent person (President of Princeton) -TRà4,100,000 votes (88 electoral) -Taftà3,500,000 votes (8 electoral) -Wilsonà6,300,000 votes (435 electoral) -Debsà900,000 votes (0 electoral)
Wilson as President -Progressive -Clayton Anti-Trust Act (1914) -Laid down rules for business practices -More powerful than Sherman Anti-Trust Act -Had “pro-labor union” provisions -Federal Trade Commission (1914) -Investigate business -Could sue businesses defrauding public -Misleading labels, false advertising -Federal Reserve Act (1913) -Created modern US banking system -Federal Reserve Board -Controls monetary policy (interest rates, etc) -Federal Reserve Banks (12) -Bank for banks -Private banks -Federal Workman’s Compensation Act -Provided benefits to federal workers injured on the job
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