U.S. History Ch. 21

List five republican pro big-business policies.

1. Laissez-faire economy 2. Appoint pro big-business politicians to watch over government regulating agencies 3. Cut taxes on the wealthy 4. Encourage business consolidations (monopolies) 5. Select conservative judges that tended to side with big-businesses, which declared the Clayton-Anti trust act null and void

What two policies did the republican politicians of the 1920s pursue that created a favorable economic climate for big businesses?

1. Tariff rate increase 2. Lower taxes for the wealthy This was the deregulation of the government

List and discuss the four scandals that occurred during Harding's presidency.

1. Teapot Dome Scandal: Albert Faul, secretary of interior, allowed for private companies to drill on oil reserves(Teapot, Wyoming and Elk hill, California) that were controlled by the defense commission in return for a bribe of $350,000 and several cattle ranches

List and discuss the four scandals that occurred during Harding's presidency.

2. The Veteran's Bureau scandal: Charles Forbes, who was in charge of the expenses of the veteran's hospital, overcharged the government for medical supplies and took the excess money for himself

List and discuss the four scandals that occurred during Harding's presidency.

3. The Office of Alien Property Scandal: Thomas Miller, who was in charge of storing the foreign chemical patents collected, sold the patent plans to private U.S. chemical companies

List and discuss the four scandals that occurred during Harding's presidency.

4. Liquor and Pardon Scandal: during the Prohibition, U.S attorney Harry Daugherty sold liquor licenses and sold pardons

Harry Daugherty

Attorney General for Harding, part of Ohio gang, sold liquor licenses during prohibition and sold pardons

What did W. Harding mean when he said he would bring the nation "Back to Normalcy?"

Back to normalcy meant to return to a state of little government interference, pro big-businesses, and laissez-faire. Therefore, he had rejected Wilson's foreign policies because "laissez-faire economy never started a war."

Warren Harding

Conservative Republican president during 1920-1924 who had many controversies occur during presidency

James Cox

Democratic Nominee against W. Harding who approved of the league of nations

Al-smith

Democratic nominee for presidency in 1928

John Davis

Democratic party nominee for presidency in 1924

What was the Farm Bloc? What did they want the government to do? How does Coolidge respond to their demands?

Farm Bloc: During WWI, the government payed the farmers to grow more food to feed the troops. However too much food was grown which led to an excess, which led to inflation. The farmers wanted the government to buy the excess food in order to reduce inflation. Coolidge rejects the idea.

Adjusted Compensation Act

Federal government pays WWI veterans compensation. (Bonus $$$)

What did the progressive party campaign in 1924?

Government ownership of utilities and direct aid to farmers

Jones-White Act

Government would give private shipbuilding companies money in order to build more ships

Calvin Coolidge

Harding's vice president, President of U.S. 1924 after Harding died. Even more conservative than Harding.

What was President Coolidge's economic philosophy?

He was even more of a conservative republican than Harding. He believed in laissez-faire economics.

What was the primary cause of the economic downturn of farmers in the 1920s?

Inflation of food price due to excess

What happened to the labor movement during the 1920s?

Labor unions were weakened by the dismantling of the Clayton-Anti Trust Act

From what country did the President pull out troops?

Latin America

Teapot Dome, Wyoming

Oil reserve controlled by the defense commission (government)

Charles Forbes

Part of Veteran's Bureau scandal: he was in charge of the veteran's hospital and was overcharging the U.S government of medical supplies and taking the excess money for himself

Col. Thomas Miller

Part of the Office of Alien Property scandal: he was in charge of storing the chemical patents of foreign nations and he sold the plans to private chemical companies

What was the primary goal of the Washington Naval Conference of 1921? What were two policies agreed upon by the attending powers?

Primary goal was to reduce the amount of warships of that time. Two policies agreed upon was no building of warships for 10 years (moratorium) and a ratio of reduction

Rober La Follette

Progressive Party nominee for presidency in 1924

Which political party controlled national politics during the 1920s?

Republicans

How did the domestic and foreign policies of the Republicans in the 1920s differ from those of the progressives?

Republicans favored the laissez-faire economy, was pro big-business, and believed in isolation policies instead of foreign policies.

Herbert Hoover

Secretary of Commerce for Harding, part of Ohio gang

Albert Fall

Secretary of Interior for Harding, part of Ohio gang, part of Teapot Dome Scandal: transferred oil reserves control to himself and allowed for private companies to drill government owned oil in return of a $350,000 bribe and several cattle ranches.

Andrew Melon

Secretary of State, cut income taxes and corp. taxes, raised tariff rates

How did the Fordney-McCumber Tariff differ from the W. Wilson's Underwood Tariff?

The Fordney-McCumber tariff increased tariff rates and the Underwood tariff decreased tariff rates.

What did the Dawes Plan deal with? How did this work?

The U.S loaned Germany $2.5 billion to fix economy in order to repay France and England. Then France and England could then repay the U.S back.

Which industry did the Esch-Cummings Act help? List four stipulations of this act covered in class.

The act helped the railroad industry. 1. Railroads returned to the private companies (previously nationalized by progressives) 2. Encouraged railroad consolidations aka monopolies. 3. Chose pro big-business politicians to be members of the ICC. 4. Created a separate railroad board to compete against the ICC so the railroad could have someone to complain to and be favored

Explain the purpose of the Kellogg-Briand Pact and the Geneva Conference

The purpose was to disarm. The Kellog-Briand Pact was between U.S. and France which outlawed war, and 62 other nations joined in. The Geneva Conference was to agree to get rid of warships