Roosevelt called his program the new nationalism

This preview shows page 24 - 26 out of 30 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Personal Financial Planning
The document you are viewing contains questions related to this textbook.
Chapter 11 / Exercise 11-13
Personal Financial Planning
Billingsley/Gitman
Expert Verified
Roosevelt called his program the New Nationalism. Wilson countered with what he called the New Freedom. He criticized Roosevelt’s program as one that supported “regulated monopoly.” Monopolies, he believed, were evils to be destroyed, not regulated. Wilson argued that Roosevelt’s approach gave the federal government too much power in the economy and did nothing to restore competition. Freedom, in Wilson’s opinion, was more important than efficiency. “The history of liberty,” Wilson declared, “is the his- tory of the limitation of governmental power . . . . If America is not to have free enterprise, then she can have freedom of no sort whatever.” Wilson Is Elected As expected, Roosevelt and Taft split the Republican voters, enabling Wilson to win the Electoral College and the election with 435 votes, even though he received less than 42 percent of the popular vote—less than Roosevelt and Taft com- bined. For the first time since Grover Cleveland’s election in 1892, a Democrat became president of the United States. Summarizing Who were the three major candidates in the presidential election of 1912? Regulating the Economy The new chief executive lost no time in embarking on his program of reform. He immediately took charge of the government. “The president is at liberty, both in law and conscience, to be as big a man as he can,” Reading Check CHAPTER 13 The Progressive Movement 439 The New Freedom Woodrow Wilson initially believed that government should break up trusts. Why did Wilson favor economic competition? History
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Personal Financial Planning
The document you are viewing contains questions related to this textbook.
Chapter 11 / Exercise 11-13
Personal Financial Planning
Billingsley/Gitman
Expert Verified
Wilson had once written. “His capacity will set the limit.” During his eight years as president, Wilson demonstrated his power as he crafted reforms affecting tariffs, the banking system, trusts, and workers’ rights. Reforming Tariffs Five weeks after taking office, Wilson appeared before Congress, the first president to do so since John Adams. He had come to present his bill to reduce tariffs. He personally lobbied members of Congress to support the tariff reduction bill. Not even Roosevelt had taken such an active role in promoting special legislation. In Wilson’s message to Congress, he declared that high tariffs had “built up a set of privileges and exemptions from competition behind which it was easy . . . to organize monopoly until . . . nothing is obliged to stand the tests of effi- ciency and economy.” Wilson believed that the pressure of foreign com- petition would lead American manufacturers to improve their products and lower their prices. Lower tariff rates, he claimed, would help businesses by putting them under the “constant necessity to be effi- cient, economical, and enterprising.” In 1913 the Democrat-controlled Congress passed the Underwood Tariff and Wilson signed it into law. This piece of legislation reduced the average tariff on imported goods to about 30 percent of the value of the goods, or about half the tariff rate of the 1890s.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture