First Term
In 1913, Wilson first successfully implemented "New Freedom": antitrust modification, tariff revision, and reforms in banking and currency matters.
In late 1913 he passed the Federal Reserve Act which created the Federal Reserve System and the central bankign system of the US.
In the economic sector, the tarriff was lowered and replaced with a federal income tax. Working conditions for sailors were improved and a new law was passed to require all ships to have an adequate number of lifeboats. There were several programs aimed at farmers and an attempt to stop child labor.
Wilson took new strides to improve anti-trust laws, encouraging competition through the Federal Trade Commission and making certain business practices illegal.
During 1914 to the beginning of 1917 Wilson struggled to keep the US out of the war in Europe. He offered to be a mediator between the Central Powers and the Allies, but a preliminary meeting in December of 1916 was unsuccessful.
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