The document discusses the 1912 US presidential election between Republican incumbent William Taft, former president Theodore Roosevelt running as a third party candidate, and Democrat Woodrow Wilson. Taft and Roosevelt split the Republican vote, allowing Wilson to win the election. The election marked the high point of support for the Socialist Party candidate Eugene Debs, who received over 900,000 votes. Woodrow Wilson's New Freedom platform included reducing tariffs, establishing the Federal Reserve banking system, strengthening antitrust laws through the Federal Trade Commission and Clayton Antitrust Act, and passing reforms to support workers like the Keating-Owen Child Labor Law.