Organic Act of the Department of Labor

Dictionary Says

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 Says

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.

comments powered by Disqus
Hot Definitions
  1. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  2. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  3. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
  4. IPO ETF

    An exchange-traded fund that focuses on stocks that have recently held an initial public offering (IPO). The underlying indexes tracked by IPO ETFs vary from one fund manager to another, but index IPO ETFs are usually passively managed and contain equities that have recently been offered to the public.
  5. IPO ETF

    An exchange-traded fund that focuses on stocks that have recently held an initial public offering (IPO). The underlying indexes tracked by IPO ETFs vary from one fund manager to another, but index IPO ETFs are usually passively managed and contain equities that have recently been offered to the public.
  6. Maritime Law

    A body of laws, conventions and treaties that governs international private business or other matters involving ships, shipping or crimes occurring on open water.
Trading Center