Posted by 8Jessica on November 12, 2009 at 11:57am
15. What/who were muckrakers and what impact did they have on our country? They tried to expose businesses that tried to form monopolies or tried to get rid of other businesses. Teddy Roosevelt was the one who got the term to stick with people. Ida Tarbell- wrote a book about John D. Rockefeller’s oil companies. She didn’t like how he brought out everyone’s companies because he lowered his prices so that no one could compete with him. She hated it. Lincoln Steffens- he wrote the book The Shame of the Cities and The Struggle for Self-Government and wrote articles about government corruption and exposes of businesses.12. What was the progressive’s philosophy on tariffs? Describe the Federal Reserve System. Before there were no taxes just tariffs. Tariffs were a tax on imported goods from other countries. American businesses benefited from tariffs because it jacked up the prices of foreign products high so people were forced to buy products in the country. 16th amendment 1913 set up income tax. Tax was at 6% which is way less then what it is today. Federal Reserve System- a system of banks that other banks bank at. There are 12 main Federal Reserve Banks. But there are 25 branches. People would run to the bank to get their money before it closed. It also prints money, and lowers interest rates, which encourages people to buy more stuff.
Comments