Wilson’s New Freedom

1. Wilson’s New Freedom 17.5

2. 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

3. Key Parts • Wilson and the Democrats Prevail • Wilson Regulates the Economy • Progressivism Leaves a Lasting Legacy

4. Introduction • Read section 17.5 • Answer critical thinking questions 4&5.

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.

6. 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.

7. 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.

8. 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.

9. 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.

10. 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.

11. 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.