Presentation on theme: "I can list the major presidents of the 1920s and common beliefs of each 1920s dominated by Republican presidentsHerbert HooverWarren G. Harding Calvin."— Presentation transcript:
I can list the major presidents of the 1920s and common beliefs of each 1920s dominated by Republican presidentsHerbert HooverWarren G. Harding Calvin Coolidge The 1920s was a period dominated by Republican presidents: Herbert Hoover, Warren G. Harding, and Calvin Coolidge Republicans less government less government intervention of business In general, Republicans believed in less government and less government intervention of business (opposite of Progressive Presidents) laissez-faire Strong belief in laissez-faire economics (leave alone or hands off)
W ARREN G. H ARDING elected President in 1920 W ARREN G. H ARDING (Republican) was elected President in 1920 Harding was the MOST presidential looking candidate R ETURN TO N ORMALCY Campaign slogan was a R ETURN TO N ORMALCY Harding was not ready for the position and was a poor reader of his friends and their motives (remind you of Grant?) Ohio Gang was the famous group of advisors that Harding had who mainly were his friends )and very corrupt) Famous members of the Ohio Gang included: Charles Evans Hughes Andrew Mellon Andrew Mellon Herbert Hoover Herbert Hoover Albert Fall (corrupt) Harry Daugherty (corrupt)
I can describe the conditions in the US after World War I In the 1920s, the Supreme Court killed much of the Progressive legislation passed by earlier Progressive Presidents. Under Harding, anti-trust laws were ignored or barely enforced! Labor Unions did not fair well in the early years after WWI Membership dropped dramatically! ADJUSTED COMPENSATION ACT Returning soldiers also faced some difficulties and Congress eventually pushed through the ADJUSTED COMPENSATION ACT Gave every former soldier a paid-up insurance policy due in 20 years
I can summarize US foreign policy in the 1920s returning to the foreign policy of isolationism In the early years of Hardings administration, it was apparent that America was returning to the foreign policy of isolationism disarmament One of the key areas of foreign policy concern was disarmament At the Washington Disarmament Conference, the US proposed a reduction in fleets and encouraged others to follow them wanted to outlaw war There were even those who wanted to outlaw war and they passed an act called the Kellogg-Briand Pact that said just this (outlaw war????) The major idea is that the US and much of the world was being put into a false sense of security!!!!!!!
I can assess the impact of the important tariffs of the 1920s In foreign trade, the US feared being flooded with cheap European goods from a quickly recovering Europe! Pushed tariff rates back up Pushed tariff rates back up on goods coming into the United States European nations responded by upping their tariffs on American goods!!!! Eventually the US responded by passing the Hawley-Smoot Tariff (under Hoover) that was the HIGHEST tariff and passed during peace time (see page 759)
I can list and explain the scandals of the Harding Presidency Much like U.S. Grant, Warren G. Hardings Administration was known for scandals, fraud, and corruption Harding was not involved but his friends often were including the following scandals Involved priceless naval oil reserves in Teapot Dome, WY and in CaliforniaAlbert Fall the bad guy here Charles Forbes looted about 200 million from the govt Sold illegally pardons and liquor permits To Americas surprise, Harding died on August 2 nd, 1923 C ALVIN C OOLIDGE was his VP and would assume the role of President
Calvin Coolidge was a quiet, reserved individual whos focus was on business!!!!! Coolidge had many famous statements about business including: To Coolidge, business people were the most important thing in our nation!!!!
I can analyze and discuss the economics of the 1920s For the most part, the 1920s appeared to be a boom for the economy worlds largest creditor nation (w US came out of World War I the worlds largest creditor nation (what about Obama???) Secretary of Treasury Andrew Mellon advocated tricle down tax policies that gave tax breaks to the upper income brackets Buying on credit became common and popular Productivity us the US rose about 70 percent and wages were at an all time high BUT…farmers found the 1920s not to be so great after all!!!!!!!!!
I can describe the foreign policy of Calvin Coolidge Coolidge also had to deal with some problems in the foreign arena as well German reparation payments The biggest problem was foreign debts including German reparation payments French and British didnt want to have to pay, Germany couldnt really pay which made France and G. Britain even more angry DAWES PLAN of 1924 Solution was the DAWES PLAN of 1924 which rescheduled debt payments from Germany and US bankers would loan the money to Germany, who would pay GB and France, who would pay the US (pretty much a big circle) When the Great Depression hit, this was all worthless anyway!!!!
election of 1928 H ERBERT C. H OOVER A LFRED E. S MITH The two major candidates in the presidential election of 1928 were H ERBERT C. H OOVER (Rep) and A LFRED E. S MITH (Dem) Coolidge had chosen not to run again… I choose not to run Hoover ran on the continued prosperity of past Republican administrations Smith was a Roman-Catholic and supporter of alcohol (what his changes in the 1920s???) Radio was significant Radio was significant in this election and helped Hoover Hoover won in a landslide I can summarize the election of 1928
I can assess the importance of the Hawley-Smoot Tariff Hawley-Smoot Tariff of 1930 One of the most controversial acts of the Hoover Administration was the passage of the Hawley-Smoot Tariff of 1930 Was the highest tariff in American history Rate was at nearly 60% The other nations of the world saw it as an economic declaration of war and responded in kind Probably plunged the US further into a coming depression than we had to be!!
I can describe the beginning of the Great Depression On October 24 th, 1929 there was a big drop in the Stock Market October 29 th, 1929 Black Tuesday Stock Market crashed October 29 th, 1929 known as Black Tuesday as the Stock Market crashed down!!!! 5000 banks closed their doors Unemployment rose to 25% Soup and breadlines occurred Brother, Can You Spare a Dime Song of the period was Brother, Can You Spare a Dime
I can discuss Herbert Hoovers response to the Great Depression As the Depression set in, many Americans blamed Hoover for not doing enough to help Hoover, the Great Humanitarian of WWI was hated Hoover Blankets Hoovervilles Hoover Blankets and Hoovervilles began to spring up and out Trickle Down Economics Hoover was a believer in Trickle Down Economics or the idea that you cut tax rates at the top and prosperity will trickle down the economic ladder and create jobs rugged individualism Hoover responded with rugged individualism instead of government intervention…well, almost! Reconstruction Finance Corporation The Reconstruction Finance Corporation was designed to provide indirect relief by assisting insurance companies, banks, agricultural organizations, railroads, and hard pressed states and local governments (sounds New Dealish, huh?) H OOVER D AM H OOVER D AM public money spent for jobs to build a dam on the Colorado River
I can explain the situation regarding the Bonus Army reaction of Hoover to the Bonus Army The reaction of Hoover to the Bonus Army destroyed any credibility Hoover had left WWI vets marched to Washington demanding their promised money early G EN. D OUGLAS M AC A RTHUR Hoover would not meet with them and sent the Army led by G EN. D OUGLAS M AC A RTHUR (later famous in WWII) to remove them Made Hoover look very unsympathetic
I can list and discuss the causes of the Great Depression 1.Over-speculation 2.Overproduction by the farms and factories 3.Overexpansion of credit through the installment plan 4.Technological unemployment 5.Worldwide depressions 6.High tariffs 7.DroughtDust Bowlsee next chapter
I can explain the rise of Japan in the 1930s and the US response Hoover had some foreign policy issues during his presidency to deal with too Japan invaded Manchuria, China 1931 Japan invaded Manchuria, China in 1931 and the League of Nations did nothing Some claim this is really the start of WWII Collective Security died and WWII was born in 1931 on the plains of Manchuria Declared the US would not recognize any territorial acquisition that were achieved by force Herbert Hoover will treat Latin America well, but will not receive credit for it…FDR will!!!