Republican Party Split
- Due to these problems with Taft, the Republicans split into old-guard republicans and progressive republicans
- TR did not get the Republican nomination so he decided to run as a third party candidate in the Progressive Party (Bull Moose Party)
- Why would this split guarantee a democrat win?
Wilson's Accomplishments
- Passed Clayton Anti-Trust Act (1914)
- Could break up monopolies
- Labor Unions were given the right to exist
- Strikes, boycotts, picketing etc. became legal
- Federal Trade Commission was established in 1914
- Investigated companies for monopolistic practices
Federal Reserve System
- America needed stronger banks
- Federal Reserve Act of 1913
- Divided the nation into 12 districts - regional central bank in each district
- "Bankers Bank"
- Federal Reserve banks could issue new paper money
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