Organic Act of the Department of Labor

AAA

DEFINITION of 'Organic Act of the Department of Labor'

An act of law reluctantly signed by former U.S. president William Howard Taft in 1913 that created the Department of Labor and the Department of Commerce, dividing the former Department of Commerce and Labor.

INVESTOPEDIA EXPLAINS 'Organic Act of the Department of Labor'

Taft was reluctant to sign the Organic Act of the Department of Labor into law because he felt that leaving the Department of Commerce and Labor as one entity would be a more efficient way of running the two departments. Taft believed that the two departments had very similar goals, but he signed it into law on his last day in office because he was certain that his successor, Woodrow Wilson, would sign the act into law anyway.

RELATED TERMS
  1. Department Of Labor - DOL

    A U.S government cabinet body responsible for standards in occupational ...
  2. The Conference Board

    A not-for-profit research organization for businesses that distributes ...
  3. Business Cycle Indicators - BCI

    Composite of leading, lagging and coincident indexes created ...
  4. Licensed For Reinsurance Only

    A license that allows a company to engage in services related ...
  5. Plant Patent

    An intellectual property right that protects a new and unique ...
  6. Patent Agent

    A professional licensed by the United States Patent and Trademark ...
Related Articles
  1. Understanding The Consumer Confidence ...
    Economics

    Understanding The Consumer Confidence ...

  2. How does the government influence the ...
    Investing

    How does the government influence the ...

  3. A Guide To Conference Board Indicators
    Markets

    A Guide To Conference Board Indicators

  4. How to Register Your Trademark
    Investing

    How to Register Your Trademark

Hot Definitions
  1. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  3. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  4. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  5. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  6. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
Trading Center