The Underwood Tariff Act
- First substantial drop in import duties since 1857
- Levying an income tax
Federal Reserve Act
- Provided new form of "flexible" currency known as Federal Reserve notes
- Provided compromise between private and public control of the Federal Reserve
- Controlled the amount of money in circulation by raising and lowering the rediscount rate.
* The Federal Reserve Act made the banking system responsive to the needs of an industrial nation.
Federal Trade Commission Act
- Investigated and regulated business practices
Clayton Antitrust Act
- Forbade several practices that destroyed competition or prevented new business from forming
Federal Farm Loan Bank
- Provided loans for agriculture
Keating-Owen Child Labor
- Forbade anyone to work under the age of 14 in factories producing goods for interstate commerce
Adamson Act
- Established an 8-hour day for railroad workers
*One failure of Woodrow Wilson's was segregating Washington D.C.
