In: Economics
list president Wilson's domestic legislative accomplishments 1913-1916
The Underwood-Simmons Tariff Act, the first effective downward adjustment of the tariff since the Civil War, introduced an overall tariff cut, allowing producers more efficient and giving fair rates to customers. A rider to the act established a limited, phased income tax to cover for missed revenue.
The Federal Reserve Act (1913)
The financial system was put under governmental control, loosening
the hold of Wall Street on the finances of the country. This act is
considered the most critical achievement for Wilson.
Seventeenth Amendment (1913)
This amendment allowed for the popular direct election of
senators.
(1914) Federal Trade Commission Act
The Federal trade Commission was tasked with upholding antitrust
laws and stopping competition from being unfairly suppressed.
Clayton Anti Trust Act (1914)
Under this act, the trusts were assaulted and trade unions covered.
Interlocking directorates and explicitly established unequal market
practises were forbidden by this statute. Labor unions were
prohibited from issues of antitrust. The legalising of nonviolent
marches, picketing and boycotts has further helped labour.
Seaman Act (1915)
This Act defined requirements for the handling of merchant sailors,
called the Magna Carta of American seamen.
Farm Loan Act (1916)
This law has made it easier to obtain loans for farmers.