Roosevelt - In TR's tactic #1, a goal was to aid labor organizations and consumer groups in pressuring big business. The Anthracite Coal Miners Strike (1902) was the first time that the President (let alone federal gov't) sided with labor over the owners. This strategy is not as effective until FDR's presidency 30 yrs later. Tactic 2: Fragmentation, try to restore a system of perfect competition where no one corporation can dominate an industry. Inherits the ineffective Sherman Antitrust Act (1890). Threatens anti-trust prosecution to force corporations to change. Broke up "bad trusts" and regulated "good trusts" ex. Northern Securities case. Tactic 3: Regulation (favorite and most effective). Continuous supervision of business by the government. Piecemeal reform to control behavior. Only agency that TR inherits is the Interstate Commerce Commission (weak). Proposes a new bureau to investigate big business - goal for fed. gov't to take over the granting of corporate characters. Elkins Act, Hepburn Act, Meat Inspection Act, Pure Food and Drug Act, 16th Amendment. Conservation of the West!
Taft - Continued Teddy's progressive agenda. Busted twice as many trusts as Roosevelt (90 trusts in 4 yrs). Established the Bureau of Mines. Added large tracts of lands in the Appalachians to the forest reserves. Set aside federal oil lands. Mann- Elkins Act (ICC can suspend railroad rates and oversee telephone, telegraph and cable companies. Progressive Republicans thought he was too cautious and too conservative on reform.
Wilson - Spoke directly to Congress in a special session. Need to lower tariff rates to bring consumer prices down. Passed the Underwood Tariff - 1st lowering of the tariff in 50 yrs. To make up for the lost gov't revenue, passed 16th amendment (graduated income tax). Rejected Republican proposal for a private national bank. Created the Federal Reserve System. Clayton Antitrust Act, Federal Trade Commission - regulating agency to take action against unfair business practices (excluding transportation and banks).