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D. Roosevelt wins reelection in the 1904 Opted for "inside the own best" because of the highest electoral margin over Democrats. Eugene Debs ran into Socialist citation; Ban party and into the ballot. Produced himself a "lame duck" chairman
X. Panic of 1907 A. Wall Path suffered a preliminary but raw panic in the 1907 1. "Runs" on banks, suicides, and criminal indictments against speculators. a. TR cooperated with Morgan banks and other large banks to prevent a banking collapse by transferring millions of Treasury funds from one bank to another. b. 2. Company leaders assailed Roosevelt to possess inducing the panic due to his anti-business tactics and called the financial setback the "Roosevelt Panic" 3. Roosevelt felt wounded by criticism, accused Wall Street of engineering the panic, and now sought to further reduce power of trusts. a. Embarked on a second wave of trustbusting. b. Reform today became acceptable (esp. lower tariff) c. Insurgent Republicans and Democrats took on Republican "Old Guard." B. Results 1. Panic presented the new severe dependence on flexible currency likewise have. a. During panic, banks unable to increase volume of currency in circulation. b. c. Which obvious fatigue smooth way for Federal Reserve Operate regarding 1913. 2. Labor and you may local reformers gathered important center-group partners. a. TR began incorporating Bryan's ideas. b. Progressives finally embraced reforms put forth reformers of early 1900s, Socialists, strikers and marchers of 1894, People's party, Knights of Labor, Farmers' Alliancemen, and Greenbackers.
XI. President William H. Taft A. Election of 1908 1. Taft d. Bryan 321-162 -- Third time Bryan defeated in 12 years. 2. Socialist party under Eugene Debs and Prohibition party under garnered just a fraction of the popular vote. B. Style 1. Taft lacked the fire or guts that possessed TR. a. Content to keep status quo rather than rocking the boat. b. Adopted attitude of passivity toward Congress (insurgent Republicans and Democrats opposed him) c. Taft turned an ally of the old shield Republicans by default. 2. Cabinet did not contain one member of TR's reformist wing. C. Dollar Diplomacy (see Imperialism notes) D. Taft as trustbuster 1. Brought 90 suits against the trusts during his four years in office; 2X compared to TR a. 1911, United States v. American Tobacco Company i. Supreme Court ordered the company to reorganize on the basis of the "rule of reason" but did not order its dissolution. ii. "Rule of reason" meant only reasonable restraints of trade were authorized. -- Severely impaired government's anti-trust activities. b. 1911, Court ordered dissolution from Fundamental Petroleum Team i. Judged to be a combination in restraint of trade in violation of the Sherman Anti-Trust Act of 1890. E. Progressive Legislation under taft 1. Conservation: Taft $1500 loan with poor credit in Vestavia Hills a dedicated conservationist; contributions equaled or out-did TR's. a. Bureau of Mines established to control mineral resources -- Rescued millions of acres of western coal lands from exploitation b. Protected water-power sites from private development. 2. Mann-Elkins Act (1910) Telegraph, telephone, & cable corporations put under ICC jurisdiction 3. Post Office Department was authorized to receive savings deposits from individuals and pay interest of 2% per year on such deposits. -- This had been a major Populist idea.
At Nyc Given, our very own purpose is to try to make the U.S. economy healthier additionally the financial system even more steady for everyone places off neighborhood. I do that by performing financial coverage, taking monetary functions, managing finance companies and you may conducting look and you will providing expertise toward problems that impact the nation and you may teams we suffice.
