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APUSH Chapter 30 Outline

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US History
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Chapter 30 Bella Wetherington 2A To what extent did domestic policy evolve during Wilson?s administration? Emphasis on ?triple wall of privilege?: the tariff, the banks, and the trusts Passed the Underwood Tariff of 1913 *substantially reduced import fees/enacted a graduated income tax* National financial structure = ineffective (Panic of 1907) Wilson had Congress authorize an investigation headed by Senator Aldrich Recommended third Bank of US June 1913: Woodrow Wilson appeared before special joint session of Congress and pleaded for a sweeping reform of the banking system 1913 Federal Reserve Act: created the new Federal Reserve Board Oversaw nationwide system of twelve regional reserve districts, each with its own central bank, and had the power to issue paper money

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