Era of American Imperialism (1890’s)
Reasons:
promoting economic growth – international markets, natural
resources
protecting American security – powerful navy
proving America’s strength – pioneer spirit, humanitarian
popular opinion
Spanish – American War (1898)
Cuba ‘s bid for independence from Spain
Growing desire in U.S. to help/ Spanish atrocities
Hearst and Pulitzer’s Yellow Journalism
de Lome letter
U.S.S. Maine
Opportunity in the Philippines
The War – mostly a naval conflict (Cuba and the Philippines) Also TR
and the Rough Riders
The Treaty
Cuba is independent
U.S. pays Spain $20 million for the Philippines, Puerto Rico and
Guam
In the Philippines
Annexation– McKinley justifies it. (page 593)
War between rebel forces and U.S. troops breaks out in early
1899.
In Cuba
Before the war, U.S. agrees to Teller Amendment, won’t annex
Cuba
Platt Amendment gives them there freedom, but…
No foreign agreements
U.S. gets naval bases
U.S. can intervene when it seems necessary
U.S. presence in Cuba until 1959 Cuban Revolution – Fidel
Castro!
Hawaii
Annexed by the U.S. in 1898
American business interests, need for Pacific naval bases, exotic
golf courses
Sanford Dole (center) with members of the new government
of Hawaii
Theodore Roosevelt – President of the United States 1901-1909
Roosevelt’s Impact
The Panama Canal
U.S. supports Panamanian revolt against Colombia.
Gains right to build canal, a shorter route between Atlantic and
Pacific oceans.
It takes ten years to build. (1904-1914)
Roosevelt Corollary to the Monroe Doctrine
The U.S. will intervene if necessary in Latin America if it believes
that another power is about to invade (even if they have a
legitimate right to do so)
“Speak softly and carry a big stick” – Naval power
The Progressive Era (1890-1920)
Government should be more accountable to its citizens
Government should curb the power and influence of wealthy
interests
Government should be given expanded powers so that it could
become more active in improving the lives of its citizens
Governments should become more efficient and less corrupt so
that they could competently handle an expanded role
Social welfare programs – using government as an agency of
human welfare
The Issues
Better housing and living conditions
Women’s suffrage
Corrupt alliance between big business and government
The trusts
Working conditions
Consumer protection/Public health
Land conservation
Power to the people
Political Reforms
Initiatives
Recall
Referendums
Direct Primary
17th Amendment (1913) – popular vote for U.S. Senate
19th Amendment (1920) – women’s right to vote
Consumer Protection
The Jungle leads to… Pure Food and Drug Act (1906) and Meat
Inspection Act (1906)
Labor and Business Reform
Triangle Shirtwaist Fire (1911)
Enforcement of Sherman Anti-Trust Act
Department of Commerce (1913)
Department of Labor (1913)
Federal Trade Commission (1914)
Clayton Act (1914)
16th Amendment (1913) – income tax
Federal Reserve Act (1913)
Conservation
National Reclamation Act (1902)
U.S. Forest Service (1905)
National Park Service (1916)
Prohibition
18th Amendment (1919) – repealed in 1933 by the 21st
Amendment
President Taft – not so Progressive, hard to follow in TR’s footsteps
Not willing to play hard ball with Congress
Progressives looking for TR to return
Election of 1912
Taft – Republican
Woodrow Wilson – Democrat
Teddy Roosevelt – Bull Moose (Progressive)
Taft and TR split Republican vote
Wilson wins with 41% of pop. Vote
Wilson’s New Freedom
(See accomplishments listed above)
Federal Reserve System
Definition
The central banking system of the U.S., comprised of the Federal Reserve Board, the 12 Federal Reserve
Banks, and the national and state member banks. Its primary purpose is to regulate the flow of money
and credit in the country. The Federal Reserve was established in 1913 to maintain a sound and stable
banking system throughout the United States and to promote a strong economy. The Board of
Governors is made up of 7 members that are appointed to 14-year terms by the President and approved
by the Senate. Almost all U.S. banks are a part of the Federal Reserve System, which requires that those
banks maintain a certain percentage of their assets deposited with the regional Federal Reserve Bank.
These "reserve requirements" are set by the Board of Governors and by changing the requirements, the
Federal Reserve System can greatly impact the amount of money supply in the economy. The Federal
Reserve System has several functions. First, it serves as a bank for banks: many transactions between
banks are processed through the Federal Reserve System. Financial institutions are also able to borrow
money through the Federal Reserve, but only after attempting to find credit elsewhere; the Federal
Reserve System provides credit only when it cannot be found in the markets or in cases of emergency.
Second, the Federal Reserve System acts as the government's bank. The tax system processes incoming
and outgoing payments through a Federal Reserve checking account. The Federal Reserve also buys and
sells government securities. The Fed even issues the U.S. currency, although the actual production of
the currency is handled elsewhere. Third, the Federal Reserve System acts as a regulatory agency. The
Fed polices the banking industry to make sure that things run smoothly and that the rights of
consumers are protected..