Discontent and Refor2

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Discontent and Reform Late-19th century American farmers experienced recurring periods of hardship By 1910 Taft's party was bitterly divided.  Democrats gained control of Congress in the  midterm elections. Two years later, Woodrow Wilson, the Democratic, progressive  governor of the state of New Jersey, campaigned against Taft, the Republican candidate  – and also against Roosevelt who ran as the candidate of a new Progressive Party.   Wilson, in a spirited campaign, defeated both rivals. During his first term, Wilson secured one of the most notable legislative programs in  American history. The first task was tariff revision. "The tariff duties must be altered,"  Wilson said. "We must abolish everything that bears any semblance of privilege." The  Underwood Tariff, signed on October 3, 1913, provided substantial rate reductions on 
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Unformatted text preview: imported raw materials and foodstuffs, cotton and woolen goods, iron and steel; it removed the duties from more than a hundred other items. Although the act retained many protective features, it was a genuine attempt to lower the cost of living. To compensate for lost revenues, it established a modest income tax. The second item on the Democratic program was a long overdue, thorough reorganization of the ramshackle banking and currency system. "Control," said Wilson, "must be public, not private, must be vested in the government itself, so that the banks may be the instruments, not the masters, of business and of individual enterprise and initiative."...
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