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Sherman Anti-Trust Act
This was the first Federal act that outlawed monopolistic business practices. The Sherman Antitrust Act of 1890 was the first measure passed by the U.S Congress to prohibit trusts. -
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Presidency of United States
Taft was the 27th president of the U.S. and served one full term. He's known as the second progressive president. He fought to limit the power of big corporations and added land to the national forest system. Following Roosevelt into office, Taft continued to enforce antitrust laws. -
Payne-Aldrich Bill
The Payne-Aldrich Bill raised tariffs and President Taft had campaigned for low tariffs. Lower tariffs would make foreign products less expensive for Americans. The big businesses were in favor of high tariffs. When Taft agreed to sign the bill, his record as a progressive was destroyed. -
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Taft Dollar Diplomacy
Taft was very committed to expanding foreign trade. The Dollar Diplomacy was designed to encourage U.S investment in South and Central American, the Caribbean, and the Far East. Taft's Dollar Diplomacy needed the use of diplomatic and military action to grow business interests overseas. -
Message to Congress
Delivering a message to Congress, Taft proposes a two-percent tax on the net income of all corporations except banks, which he believes will make up for revenue lost by tariff reductions He also proposes that Congress adopt a constitutional amendment that would permit the collection of personal federal income taxes. -
The Environment
Progressives saw how industry and growth created pollution and ruined the landscape, and they wanted to protect he natural environment. William Taft added 2.7 million acres to the National Wildlife Refuge System. Many conservationists were angered because Taft criticized the gov for selling some wilderness areas. -
The Election of 1912
Roosevelt decided to run for president again because he believed Taft betrayed progressive ideals. The Republicans chose Taft as their candidate, and Roosevelt ran for the third party, the Progressive Party. Woodrow Wilson won the election. -
Worker Protection
The Children's Bureau was made to "investigate and report upon all matters pertaining to the welfare of children".
Taft supported eight-hour work days. It soon became a rule for government employees. For many years, companies opposed it. -
Reforming the Banking System
Progressives wanted stabilized banking systems. Taft wanted the Congress to reform the banking system, but they were unsure about the proper solution. Wilson proposed a banking system and congress the Federal Reserve Act. It brought stability to the banking system and prevention of financial panics. -
Sixteenth Ammendment Ratified
With many issues relating taxes and big businesses, president Taft worked in he 16th amendment. The 16th amendment charged a tax on large corporations. Because the amendment established a federal income tax, progressives liked it because it fund government programs. Congress made the tax a graduated income tax, which placed a heavier tax burden on the wealthy. -
Death
Taft remained Chief until shortly before his death. He died due to complications of heart disease. Taft was buried at Arlington National Cemetery in Virginia.