Question

What farm and labor reforms did Wilson promote around 1916?

A) The Federal Reserve Act, which established the Federal Reserve System to regulate the nation's banking and financial system.

B) The Clayton Antitrust Act, which aimed to strengthen antitrust laws and prevent anti-competitive practices.

C) The 19th Amendment, granting women the right to vote.

D) The Federal Farm Loan Act, which created a system of federal farm banks to provide low-interest loans to farmers.

Answer 1

During the late Progressive Era, efforts were made to prevent monopolies and regulate the financial sector. The Federal Reserve Act and the Clayton Antitrust Act were significant laws that were passed during this time. The Federal Reserve Act established the Federal Reserve System to regulate the banking and financial system, while the Clayton Antitrust Act aimed to strengthen antitrust laws and prevent anti-competitive practices.

Step-by-step explanation:

During the late Progressive Era, efforts were made to prevent monopolies and regulate the financial sector. Two significant laws that were passed during this time were the Federal Reserve Act and the Clayton Antitrust Act.

The Federal Reserve Act, passed in 1913, established the Federal Reserve System to regulate the nation's banking and financial system. It created a decentralized private banking system controlled by the federal government, with twelve district banks across the country. This system provided greater stability and regulation to the banking industry.

The Clayton Antitrust Act passed in 1914, aimed to strengthen antitrust laws and prevent anti-competitive practices. It clarified the definition of illegal business practices and declared that actions reducing competition would be subject to federal penalties. The act also required government approval for mergers and acquisitions and banned unfair business practices.