HIST 2057 Chapter : Reform And Progressivism Part 2
Document Summary
Get rid of cronies in government, replace with experts. Wilson was the progressive candidate for the democrats. Ran for governor of new jersey, turned tables on political machine. How much reform was each proposing: roosevelt: business was good, just needed to be limited (trusts), used anti-trust laws against labor unions, wilson: there should be no big businesses, only small/medium sized. 1912: wilson wins, democrats take control of senate and house of reps. First major tariff reduction since the civil war. Wilson believed competition was good for business, whether from domestic or international companies. Forces companies to keep up and always offer the best. Farmers had lack of access to credit. Attempt to distribute banking system more broadly across the country. Federal reserve system: network of 12 banks, each region has a federal reserve bank. Businesses have to put some of their money in the federal reserve for their region.
