The Growth of the American Economy (1890 - 1918)

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The McKinley Tariff Act
1890 - tariffs as high as 49.5% put on certain foreign goods.
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The Silver Purchase Act
1890 - the government would buy 4.5 million ounces of silver a month from mine owners. It was repealed in 1893.
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The Sherman Anti-Trust Act
1890 - made trusts illegal but wasn't effectively enforced. Only 36 cases in 11 years. Taft prosecuted Standard Oil and American Tobacco in 1911 under this Act.
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The Federal Farm Loan Act
1916 - gave low cost federal loans to farmers.
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'Trust-busting'
1901 - 1909 - Roosevelt doubled the number of cases prosecuted under the Sherman Anti-Trust Act from 12 to 24 whilst in office.
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The Hepburn Act
1906 - gave federal government more control over rail road companies and the rates they could charge customers.
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The Clayton Anti-Trust Act
1914 - ensured strikes and pickets were legal.
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The Underwood Tariff Act
1913 - reduced tariffs on more than 1,000 products and abolished tariffs on some goods. Also increased tariffs on luxury goods and introduced a graduated income tax.
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The Federal Reserve Board
12 local boards controlled money supply to help keep prices stable. Not very effective at the beginning but then became a very important government agency in stabilising the economy.
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Other cards in this set

Card 2

Front

1890 - the government would buy 4.5 million ounces of silver a month from mine owners. It was repealed in 1893.

Back

The Silver Purchase Act

Card 3

Front

1890 - made trusts illegal but wasn't effectively enforced. Only 36 cases in 11 years. Taft prosecuted Standard Oil and American Tobacco in 1911 under this Act.

Back

Preview of the back of card 3

Card 4

Front

1916 - gave low cost federal loans to farmers.

Back

Preview of the back of card 4

Card 5

Front

1901 - 1909 - Roosevelt doubled the number of cases prosecuted under the Sherman Anti-Trust Act from 12 to 24 whilst in office.

Back

Preview of the back of card 5
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