Wilson's New
Freedom & the Triple Wall of Privilege
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Wilson's "New Freedom" versus Roosevelt's "New
Nationalism"
President Wilson, like his
predecessors Roosevelt and Taft, was a firm supporter of the
Progressive Movement and
Progressive reforms. The presidential election of 1912 saw
Roosevelt standing for re-election against Woodrow Wilson. The men
had different approaches to progressive reforms. Roosevelt and his
Republican 'Bull Moose Party' stood for a program of New Nationalism
favoring efficiency. Roosevelt accepted the economic power of the
trusts but proposed new reforms to provide additional power to the
federal government to regulate them.
Wilson's New Freedom
Wilson's New Freedom platform criticized Roosevelt’s New Nationalism
program as one that supported "regulated monopoly", gave too
much economic power to the federal government and failed to support
small businesses, competition and free enterprise.
Wilson's New Freedom:
Triple Wall of Privilege
President Woodrow Wilson coined the
phrase "Triple Wall of Privilege" to describe his target goals of
the banks, the tariff and the trusts. The 1913 cartoon by Fred
Cooper illustrates President Woodrow Wilson attacking the "Triple
Wall of Privilege". His actions included Reforming Tariffs,
Reforming the Banks, Antitrust action and breaking up monopolies
Wilson's "New Freedom" versus Roosevelt's "New Nationalism"
President Wilson, like
his predecessors Roosevelt and Taft, was a firm supporter of the
Progressive Movement and
Progressive reforms. The presidential election of 1912 saw
Roosevelt standing for re-election against Woodrow Wilson. The men
had different approaches to progressive reforms. Roosevelt stood for
a program of New Nationalism favoring efficiency. Roosevelt accepted
the economic power of the trusts but proposed new reforms to provide
additional power to the federal government to regulate them.
Wilson's New Freedom platform criticized Roosevelt’s New Nationalism
program as one that supported "regulated monopoly", gave too
much economic power to the federal government and failed to support
small businesses, competition and free enterprise.
Wilson's New Freedom Vision
Democrat resident Woodrow Wilson's vision of
his New Freedom program was to completely destroy the Big Business
trusts and monopolies, limit governmental power and restore free
enterprise and a competitive market for small farmers and
businesses. Wilson put forward the strong argument that freedom was
more important than efficiency - and his New Freedom presidential
campaign won the election. He wasted no time in introducing his
progressive reforms.
Wilson's New Freedom
for kids:
Woodrow Wilson's Reforms
President Woodrow Wilson's reforms
included Underwood Tariff Bill to help lower the
general tariff rate from about 40% to 26% and
re-impose Income Tax, the Federal
Reserve Act, the reorganization of trusts and the
1914 Clayton Anti-Trust Act which banned price
discrimination. Wilson's reforms also included
Federal aid and Social Welfare reforms.
Wilson's New Freedom
Reforms for kids: Reforming Tariffs and Taxes
A Tariff is a tax
placed on goods that are imported from foreign
countries. Woodrow Wilson believed that high tariffs
were responsible for building up a collection of
privileges and exemptions from competition resulting
in powerful monopolies. In 1913 Wilson signed the
Underwood Tariff into law
substantially reducing the average tariff on
imported goods which he believed would encourage
American manufacturers to increase efficiency and
become more competitive with their prices. The
Underwood Tariff,
aka the Revenue Act of 1913, also re-imposed federal
Income Tax.
Wilson's New Freedom
Reforms for kids: Reforming the Banks
Public confidence in America's banking
system was low due to the collapse of small banks
during periods of depression in which many Americans
had lost their life savings. There was no central
bank and Wilson decided to take action to restore
the confidence of Americans in banks. Woodrow signed
the 1913 Federal Reserve Act into law that
established a a Federal Reserve system regulated by
a Board of Governors with the power to set the
interest rates the reserve banks charged other
banks.
Wilson's New Freedom
Reforms for kids: Antitrust Action
President Woodrow Wilson was
determined to break the monopolies and trusts
established by Big Businesses to the detriment of
the small farmers and businessmen. Under Wilson's
leadership Congress passed the 1914 Federal Trade
Commission Act that created the Federal Trade Commission (FTC)
in 1914 as his antitrust action to investigate
and monitor American business practices. The
Federal Trade Commission had the power to
investigate companies and issue "cease and desist"
notices against companies engaging in unfair trade
practices, or those companies that damaged
competition. The Wilson Antitrust Action was
designed to limit activities that unfairly limited
competition.
Wilson's New Freedom
Reforms for kids: The Labor Unions and the Clayton Antitrust
Act
President Woodrow Wilson was lobbied
by Labor Unions for to exemption from the antitrust
laws as their purpose was not to inhibit trade. As a
result the Clayton Antitrust Act was passed into law
which gave unions the right to exist. The Clayton
Antitrust Act revised the 1890 Sherman Antitrust Act
and banned monopolistic practices by business and
affirmed the right of workers to go on strike.
Wilson's New Freedom
Reforms for kids: Social Welfare and Federal Aid
President Woodrow Wilson's New Freedom
Reforms also included Federal Aid and Social Welfare
reforms. The 1916 Keating-Owen Child Labor Act
limited how many hours children were allowed to work
prohibiting the employment of children under the age
of fourteen in factories producing goods for
interstate commerce. The Federal Farm Loan Act
was also passed during his presidency which created
12 Federal Land Banks to provide small farmers with
long-term loans at low interest rates. Another
important law to be passed was the 1916 Adamson Act,
which established the 8 hour working day for
railroad workers.
New Freedom for kids
The info about the New Freedom provides interesting facts and
important information about this important event that occured during the presidency of the 28th President of the United States of America.
New Freedom for kids - President Woodrow Wilson Video
The article on the New Freedom provides detailed facts and a summary of one of the important
policies during his presidential term in office. The following
Woodrow Wilson video will
give you additional important facts and dates about the political events experienced by the 28th American President whose presidency spanned from March 4, 1913 to March 4, 1921.
New Freedom
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Interesting Facts about New Freedom for kids and schools
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Key events
and New Freedom for kids
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The New Freedom, a major
event in US history
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Woodrow Wilson Presidency from March 4, 1913 to March 4, 1921
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Fast, fun facts about the New Freedom
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Foreign & Domestic
policies of President Woodrow Wilson
● Woodrow Wilson Presidency and
New Freedom for schools,
homework, kids and children |