The author shows a how a protective tariff will benefit people in his town by describing the various ways in which the protective tariff could help benefit people, making examples about how different people in town would have some benefits, like the mercantile and its commercial pursuit, or the parents and their earnings that went to the comforts of their aged parents.
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</span>The author illustrates how the town would be negatively affected if the factory was to close by portraying an imaginary future image where the factory is closed and everyone mentioned before joining in conversations, comparing the past to the present.
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The proper method for setting questions of economic and national policy is to see for themselves,</span> imagining to themselves the difference between a factory at work and a factory burnt, because when people can see the practical difference between a factory stopped and a factory active, the issue will be easily resolved.<span>
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</span>A modern autoworker employed by an American manufacturer might favor a protective tariff today because of the aggressive competition from other brands that make life difficult for the American manufacturer, and so the hope is that a protective tariff will help them avoid such impasse.
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American consumers might oppose a such tariff because of its price, as the price for imported goods will grow, and also because the sociocultural context is different, and globalization should have come to an end to protective tariff mechanism since the manufacturer that works only with American people only on the U.S. soil are very limited.</span>
Answer:
Creation of Federal Reserve System
Explanation:
An important innovation initiated by Wilson was a complete reorganization of the financial and banking system and monetary circulation. Today, it is difficult for Americans to imagine what kind of financial turmoil reigned in their country from the time of the Civil War until the beginning of the 20th century. At that time, about seven thousand banks were functioning. Gold and silver coins, certificates, notes of the National Bank were in circulation, and all the monetary circulation was under the full control of Wall Street.
To harmonize the financial system with the needs of the economy, Wilson was pushing for a law to create the Federal Reserve System (Fed), which serves as the central bank of the United States. The President adhered to the “golden mean.” He listened to the advice of conservatives and, for the sake of the effective functioning of the financial system, agreed to create 12 regional federal banks. However, the stumbling block was the principle of forming the Fed's board, which, according to the personal plan of Wilson and his progressive advisers, was supposed to regulate its activities. The president had to withstand the extraordinary pressure of banking tycoons accusing him of trying to strip them of control of their property. But he did not make any concessions, considering the appointment of the composition of the board of the Federal Reserve System solely the competence of the president. Therefore, in the management of the Fed, although its ownership is private, the state plays a significant role.
House of Representatives.
