1 jan 1914 ano - Woodrow Wilson’s Progressive Program: Banking reform: Federal Reserve Act; Business regulation: Clayton Antitrust Act, Federal Trade Commission

Descrição:

Wilson was concerned with the lack of stability and corruptness that banks in the United States held. He saw that the gold standard was not stable, and that Wall Street had too much of an influence over the National Bank and the financial system in the United States. Wilson went to Congress to attempt to fix this issue and reconstruct the financial system in which he proposed a national banking system that was looked over and controlled by Federal Reserve board. Congress agreed and they passed the Federal Reserve act in 1914 which also produces dollar bills. He also had a new freedom program which consisted of two acts being the Clayton antitrust act which added and strengthened the Sherman antitrust act. This law also stated that labor unions were not going to be able to be prosecuted as trusts any longer. The second aspect to his new freedom program was the Federal Trade Commission which was created to stop unfair trade practices in companies, however banking and transportation were not included.

Adicionado na linha do tempo:

Data: