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1K The Making of a Superpower: USA, 1865–1975

Wilson's New Freedom and America's Economic Rise

  • 3 things to know
  • Component 1

Overview

Recall questions on Wilson's New Freedom and how it differed from New Nationalism, the Underwood Tariff, Federal Reserve, Clayton Act and Federal Trade Commission, and the resources, markets, tariffs, immigration and corporations behind America's industrial rise.

What you need to know

Answer each one before you reveal it.

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Key term

What did Wilson's 'New Freedom' advocate regarding the banking system?

Key term

What did the Federal Reserve Act of 1913 create?

Key term

In what ways had the USA surpassed Britain as an industrial power by 1900?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What was Wilson's 'New Freedom' position on tariffs?

    Model answer

    Tariff reduction to lower import duties and reduce protection for monopolies.

  2. 2

    What did Wilson's 'New Freedom' advocate regarding the banking system?

    Model answer

    Banking reform to create a more stable and responsive financial system.

  3. 3

    How did Wilson's 'New Freedom' approach monopolies?

    Model answer

    Through antitrust legislation to break up monopolies and restore competition.

  4. 4

    How did Wilson's 'New Freedom' differ from Roosevelt's 'New Nationalism' in their approach to big business?

    Model answer

    Wilson's New Freedom emphasised breaking up monopolies to restore competition, whereas Roosevelt's New Nationalism accepted big business under government regulation.

  5. 5

    What did the Underwood Tariff of 1913 accomplish?

    Model answer

    It reduced import duties, lowering tariff protection for American industries.

  6. 6

    What did the Federal Reserve Act of 1913 create?

    Model answer

    The central banking system of the United States.

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