1. Republican Policies and the “Boom” of the 1920s
US History
Mrs. Housenick
11/16/12

2. Conservative Republican Presidents of the 1920s
People wanted “return to normalcy” after chaos of World War I
Republicans won three elections with conservative views
Supported interests of big business
Tax cuts for wealthy and for big business
High tariff to protect American industry

3. Conservative Republican Presidents of the 1920s ctnd.
Wanted return to “laissez-faire”
Believed government should not interfere with economy
Wanted economy to grow without government regulation
Believed government should not act to assist individuals
“Pull yourself up by your bootstraps”
“Don’t wait for government handout”

4. Supply Side Economics Republican economic philosophy
Idea that rich should keep their money rather than pay high taxes
Business and consumers will spend and invest extra money, causing economy to grow
Often called “trickle down economics”
Many Republicans still believe this today

5. Warren Harding: President 1920-1923
Replaced Wilson and Democratic rule
Ran on promise of “return to normalcy”
Put friends in government posts, lead to corruption
Cut taxes on corporate profits and for wealthy
Raised tariff dramatically

6. Calvin Coolidge: President 1923-1928
Took over when Harding died
Cleaned up corruption in White House
Very similar economic policies to Harding
Believed government’s #1 job was to help business
“The business of America is business”

7. Herbert Hoover: President 1928-1932
Elected when Coolidge decided not to run again in 1928
Raised tariffs even further
Seemed economy was booming under Hoover
Depression will begin under his watch,many will blame Republican economic policies for crash.