Wednesday, November 18

[5whitneyyy]

Woodrow Wilson’s New FreedomHe was born to a rich family and was well education. He was the president at his college and then later was the president in the years of 1913-1921. 3 Amendments pasted during Woodrow Wilson’s term; 17th, 18th, and 19th. He accomplished the Clayton Anti-Trust Act and the Federal Trade Commission; they made sure everything was fair. Clayton Anti-Trust Act they gave the labor unions the right to exist. The Federal Trade Commission was made of people who investigated companies and could shut them down. Rich people wanted high tariffs. A tariff is a tax on imported goods. They were getting rid of foreign goods from other than the United States. They were for high tariffs because it brought a lot of money to the government. The federal government was lowering the tariffs. They had to have an income tax to be able to do that. It was a graduated income tax, it means the more you make the more you give to the government.In times of panic, people would run to the banks to try to get their money out of it. After a while the bank would lose all money and they would shut down and never reopen, so people who didn’t get their money out would lose all of it. The Federal Reserve System controls the amount of circulation. It broke the country into 12 districts. It’s a banker’s bank, where banks bank at. Normal people don’t bank their. If the bank needed money banks would go to them for money because the Federal Reserve System never runs out. They lowered interest rates so more people would buy more things.Chapter 10- America Claims An EmpireImperialism is a large expansion of another country. It’s when a stronger country overtakes a smaller country for money, power, and so on. Why do countries colonize? They do it to gain power, resources, land, to make money, to establish naval bases, to get natural resources, to “uplift, civilize and Christianize” people, for prestige throughout the world, opens markets throughout the world for trade, and refueling stations.