Today in class Mr. Bruns discussed our blog topics. Mine is the battles of World War I. I'm doing the Christmas Truce. 1914 to 1917. In class today I learned that Wilson passed the Clayton Anti-Trust Act (1914) This could break up monopolies. I gave labor unions the right to exist. It made strikes, boycotts, picketing and etc become legal. The Federal Trade Commission was established in 1914. A tariff is a tax on imported goods. Rich people were the ones that wanted high tariffs. The Underwood Tariff drastically cut tariff rates for the first time since the Civil War. The 16th Amendment was ratified in 1913. This allowed for a graduated income tax. The Federal Reserve System (1913) strengthened banks. It allowed a way to control the amount of money in circulation. During the recession everyone ran to the bank and took out money after that the bank would shut down and not re open. After that people would just lose their money. The Federal Reserve System broke up the country into 12 different districts. This is where the bank's bank. They are still around today. There were three amendments passed when Wilson was president. Direct election of senators, prohibition, and Women's vote all took place during his president.Countries colonize to gain power, to make money, and to get natural resources.If I were to put money in a bank and they have an emergency, or something come up and I wouldn't get all my money back I would be really upset! I think that The Federal Reserve System was a very good idea.
Comments