Progressives at the National Level Election of 1900: Rematch of 1896 Election of 1900: Rematch of 1896 Election of 1900: Results

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1 3 4 Progressives at the National Level n 3 Progressive Presidents: 90 to 90 n Theodore Roosevelt (R) n William Howard Taft (R) n Woodrow Wilson (D) Election of 900: Rematch of 896 n McKinley (R) vs. Bryan (D) n Republican campaign: n Prosperity n Victory n Liberation n Roosevelt for VP n Progressive NY Governor n War hero Election of 900: Rematch of 896 n Wm Jennings Bryan s nd try n Combines populism with other issues n Opposes: n Gold standard n Imperialism n Nativism n Trusts Election of 900: Results n McKinley improves 896 victory margin n Electoral vote: 9 to 55 n Popular vote: 7.M to 6.4M; 5% to 46% 5 Roosevelt Becomes President n Leon Czolgosz assassinates McKinley n Theodore Roosevelt becomes youngest President ever at 4 & one of most popular n Teddy n TR

2 n TR Roosevelt & 90 Coal Strike n National emergency n TR threatens to use Army to operate mines n Union agrees not to bargain for workers n Owners improve wages & hours TR the Trust-Buster n Uses Sherman Anti-Trust Act vs. trusts n 90: sues J.P. Morgan s Northern Securities Co. RR trust n 904: Supreme Ct. orders break-up of NSC n 903: Elkins Act allows ICC to impose fines for RR rebates n 904: TR re-elected by.6m vote margin TR s Square Deal n Equal opportunity for all n 906: ICC can set RR rates n 906: Pure Food & Drug Act; Meat Inspection Act (labeling, inspection, sanitary plants) n 906: sues Standard Oil under Sherman Act 9 0 TR the Conservationist n Sets aside 360,000 sq. mi. of federal lands n Establishes U.S. Forest Service n Establishes 5 national parks & numerous game preserves William Howard Taft n 904: TR appoints Taft Sec. of War n 908 election: n TR s hand-picked successor n TR goes off to hunt big game n Taft defeats W.J. Bryan in landslide Taft: Progressive, Not Political

3 n Files 80 anti-trust suits n Including one vs. U.S. Steel for deal TR had approved n Involves himself in tariff issue n TR avoided issue n Alienates consumers & businessmen n Supports Constitutional reforms n 6 th Amdt: permits federal income tax n 7 th Amdt: voters elect U.S. Senators instead of state legislators Election of 9 Three major parties n Rep. Wm Howard Taft n Dem. Woodrow Wilson n Progressive (Bull Moose) TR Plus Socialist Eugene V. Debs Election of 9: Return of TR n Republicans are split n Conservative wing for Taft n Progressive wing for TR n TR walks out of convention after winning primaries n TR forms Progressive (Bull Moose) Party 9 Republican Platform n High tariffs n Limits on child & female labor n Against bad trusts n Gold standard n Continued prosperity 9 Progressive Platform n New Nationalism : big business requires big government (federal regulation; not trust-busting) n Lower tariffs n Women s suffrage n Abolition of child labor n Minimum wage laws n Problem: TR s ego 3

4 n Problem: TR s ego Democratic Platform n New Freedom emphasizes free enterprise n No distinction between good & bad trusts: eliminate them all n Reduce tariffs n Not for women s suffrage 9 Socialist Party Platform n Led by Eugene Debs n Socialism, not capitalism n Govt-owned RRs & utilities n No tariffs n 8-hour day n Women s suffrage 9: Socialist Vote Peaks (about 6 % of Popular Vote) Election of 9 Results n Wilson gets 00,000+ less votes than Bryan in 908 n Wilson wins with Rep. split n 4% pop. votes = 435 electoral votes Electoral Equation Democratic Sweep n Democrats control both houses of Congress President Wilson Background: n Virginian, Princeton Professor & President n Progressive N.J. governor n Fights N.J. party bosses 4

5 n Fights N.J. party bosses n Starts Presidential primaries in N.J. n Bryan supports him Presidency: n st Presidential press conference n Lowers tariff n Sets up Federal Reserve system n Signs anti-trust laws n Signs st graduated income tax Federal Reserve Act (93) n Bryan & populists want government-owned central bank that can increase money supply n Banks want private regional central banks n Wilson compromises: n district banks controlled by Federal Reserve Board of Governors ( the Fed ) n Board of Governors appointed by President & confirmed by Senate n Federal Reserve Notes are government obligations Wilson s Anti-Trust Actions n No trust-busting lawsuits n Federal Trade Commission to: n Stop fraud n Stop false advertising n Stop unfair trade practices n Enforce Clayton Anti-Trust Act n Clayton Anti-Trust Act prohibits anti-competitive: n Price discrimination n Tying agreements n Interlocking directorates n Clayton Act n Holds corporate officers liable n Exempts unions 93: First Two Progressive Amendments Ratified n 6 th Amdt: 5

6 6 n 6 Amdt: n Permits Congress to levy income tax n Replaces tariff as main U.S. Govt revenue source n 7 th Amdt: n Voters (not state legislatures) elect U.S. Senators n To reduce corporate influence on Senate Revenue Act of 93 Single person s net income & tax n < $3,000 = 0% n $3,000-$0,000 = % n $0,000-$50,000 = % n $50,000-$75,000 = 3% n $75,000-00,000 = 4% n $00,000-$50,000 = 5% n $50,000-$500,000 = 6% n > $500,000 = 7% n Income tax is graduated n Income tax is progressive (wealthy pay higher % of income) n Regressive taxes: n Sales tax n Social security 6