Match each legislative act with its chief accomplishment

Match each legislative act with its chief accomplishment.

• created an income tax to fund the government – 16th Amendment
• sought to outlaw business monopolies – Sherman Antitrust Act
• granted the Interstate Commerce Commission control over railroad rates and telecommunications – Mann-Elkins Act
• established a central banking system – Federal Reserve Act

The correct answer and explanation is:

Correct Answers:

1. 16th Amendment – Created an income tax to fund the government
2. Sherman Antitrust Act – Sought to outlaw business monopolies
3. Mann-Elkins Act – Granted the Interstate Commerce Commission control over railroad rates and telecommunications
4. Federal Reserve Act – Established a central banking system

---

Explanation:

1. 16th Amendment (1913)
   The 16th Amendment allowed Congress to impose a federal income tax without apportioning it among the states based on population. Before this, the U.S. primarily relied on tariffs and excise taxes for revenue. The amendment provided a stable source of funding for government programs and services, enabling the federal government to expand its role in national development.
2. Sherman Antitrust Act (1890)
   The Sherman Antitrust Act was the first federal law aimed at curbing monopolies and anti-competitive business practices. It prohibited businesses from forming trusts or monopolies that restricted trade. This law was crucial in breaking up powerful corporations like Standard Oil and promoting fair competition in the marketplace.
3. Mann-Elkins Act (1910)
   The Mann-Elkins Act strengthened the Interstate Commerce Commission (ICC) by giving it the authority to regulate railroad rates and telecommunications companies, including telephone and telegraph services. This law aimed to prevent unfair pricing and monopolistic control over essential transportation and communication services.
4. Federal Reserve Act (1913)
   The Federal Reserve Act established the Federal Reserve System, creating a central banking structure to regulate monetary policy. It introduced a system of 12 regional banks that could provide stability to the economy by adjusting interest rates, managing inflation, and acting as a lender of last resort during financial crises.

---

Now, I’ll generate an image related to these legislative acts.

Here’s the historical collage illustrating key legislative acts in U.S. history. Let me know if you need any modifications or additional details!