Politics of Boom and Bust Chapter 32. Get ready for today’s lecture We must finish CH 32 today. We will start ASAP at 7:30am.

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Politics of Boom and Bust Chapter 32

Get ready for today’s lecture We must finish CH 32 today. We will start ASAP at 7:30am

Write down these questions: You will need to answer them for class work. Describe the type of economy that existed in the U.S during the 1920s. (Include the government’s perspective on this.) How did the U.S return to simpler times? Provide examples. Provide examples as to how isolationism was exemplified during the 1920s and how the U.S tried to avoid future wars. Did this work out? What led to Black Tuesday?

LEQ TODAY! You will have the first 40 minutes of class to work on your LEQ. Get started as soon as you walk in!! Start: 8:50am End: 9:30am LEQ pg. 398 #2 We will start CH 32 right after. BEFORE you leave; turn in your AMSCO MC pg. 491 (1-8)

President Harding; Type of Leadership; Ohio Gang Many Scandals (Synthesis; Ulysses S. Grant) Era of the Republicans; Laissez-faire; some Progressive Era advancements erased; Adkins v. Children’s Hospital (Child Labor) and Muller V Oregon (Women)

Post WWI Economy; Demobilized Economy; Peace Time from War Time (W.I.B Bernard Baruch) Tariffs; Fordney-McCumber; RAISES  “Keep Euro goods OUT”  Issue? Veterans Bureau (1921); V.A, Medical, Rehab, Compensation (later, Bonus Army) Middle East Oil; Charles Hughes Secured for U.S.

Attempts to Keep Peace; Reduce Size of Navy; Washington Disarmament Conference (1921)  (Ratio 5;5;3) Four Power Treaty; Japan, G.B, France, U.S; Big stick in Pacific  “Policing Power” Kellogg-Briand Pact; “Promise to never go to war”; 62 nations

Scandal; Several…Albert Fall and the Teapot Dome Scandal Harding Dies; V.P Silent Cal (Calvin Coolidge) wins again in 1924 Creditor Nation; Charles Dawes  Dawes Plan

Election of 1928; Herbert Hoover; “A chicken in every pot, a car in ever garage.” Self Reliance, Individualism; Product of Rags to Riches Agricultural Marketing Act; Farm Board ; Federal Farm Loan Act (1916) Hawley-Smoot Tariff; 60% (1930)  Global

End of the Golden 1920s; October 29, 1929  Black Tuesday; Holders lost >$40m  Bank Runs Causes; Overproduction, Over-Speculation, Credit, Stock, producing more than buying, unequal distribution of wealth Breadlines, move to find work, birth rates less, okies  farmers and the dustbowls Hoovervilles, Hoover Flags, Hoover Blankets

Hoover’s Reply; “Depressions are like storms…” ; laissez-faire; Is it fair to blame him? Volunteerism vs. Legislation; Issue? Reconstruction Finance Committee; Trickle Down Economics & Hoover Dam; $2.25B Bonus Army March; How does this affect Hoover?

Foreign Issues; 1931; Japanese Aggression with China  Manchuria, Shanghai League of Nations?  Voted Out  Worse U.S Response; Remain Isolated Latin America; “good neighbor policy” PIONEERED for FDR Election of 1932; ready for a change…