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25 Things the President Can DO!
Expanded the Economic Powers of the President
TRUST BUSTER
* He broke up monopolies (trusts).
If a trust controlled an entire industry but provided good service at reasonable rates, it was a "good" trust to be left alone. Only the "bad" trusts that jacked up rates and exploited consumers would come under attack.
Roosevelt Takes on Big Business.
https://www.history.com/topics/us-presidents/theodore-roosevelt-vs-corporate-america-video
https://myarkansaspbs.pbslearningmedia.org/resource/theodore-roosevelt-conservationist-president/ken-burns-the-national-parks-video-gallery/
Conservationists
* He used his executive power to set aside
lands for conservation of natural resources.
The Pure Food and Drug Act and the Meat Inspection Act protected consumers.
My view was that every executive officer . . . was a steward of the people bound actively and affirmatively to do all he could for the people, and not to content himself with the negative merit of keeping his talents undamaged in a napkin. . . . My belief was that it was not only his right but his duty to do anything that the needs of the nation demanded unless such action was forbidden by the Constitution or by the laws (Roosevelt 197).
Roosevelt used his presidency as a bully pulpit to promote an active government that protected the interests of the people over big business.
Panama Canal
ROOSEVELT COROLLARY
Helped negotiate an end to the Russo Japanese War
Panama Canal
Economic Plan: NEW FREEDOM
New Freedom sought to achieve the vision of providing better opportunities for farmers and small businesses by attacking what Wilson called the
TRIPLE WALL OF PRIVILEGE — the tariff, the banks, and the trusts.
Underwood Act - Lower Tariffs
16th Amendment - Allowed the government to tax income based on income
levels. (payment for government programs would be more
fairly distributed.
Clayton Anti-Trust Act - Prohibited companies from buying the stock of
competing companies in order to form a monopoly
Federal Trade Commission- authority to prosecute corporations for “unfair
trade practices”
Federal Reserve Act - Created a central fund from which banks could borrow to
prevent collapse during financial crisis