1 / 12

HARDING AS PRESIDENT

HARDING AS PRESIDENT. FOREIGN POLICY League of Nations 5 Power Treaty—Brit, Jap, US, Fr, Italy 4 Power Treaty-US,Brit, Fr, Japan 9 Power Treaty-observe “open door” in China. HARDING—Domestic Policy. Decrease taxes Increased tariffs Veto bonus bill ($ to vets) War debt—installment plan

Download Presentation

HARDING AS PRESIDENT

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. HARDING AS PRESIDENT • FOREIGN POLICY • League of Nations • 5 Power Treaty—Brit, Jap, US, Fr, Italy • 4 Power Treaty-US,Brit, Fr, Japan • 9 Power Treaty-observe “open door” in China

  2. HARDING—Domestic Policy • Decrease taxes • Increased tariffs • Veto bonus bill ($ to vets) • War debt—installment plan • Scandals—”Teapot Dome”, Ohio Gang • Harding picks 4 justices to SC

  3. 1924 Election • Rep-Coolidge • Dem-Davis • Progressives-LaFollette • Issues: city vs. country • Winner—Coolidge—”cool Cal”

  4. Coolidge as PresidentForeign Policy • Dollar diplomacy • Good neighbor

  5. Coolidge—Domestic Policy • Decreased taxes • Help industry • Decrease Gov’t spending • No gov’t regulation • Veto of McNary Haugen Bill • Gov’t buy surplus farm products & set prices high

  6. THE 1928 ELECTION • REPUBLICAN • HOOVER • “RAGS TO RICHES” • INDUSTRY, THRIFT & SELF RELIANCE—RUGGED INDIVIDUALISM • DEMOCRATIC • AL SMITH—NY • “WET, IRISH CATHOLIC, CITY GUY” • RESULT: HOOVER WINS • WHY? • “HOOVERCRATS”

  7. HOOVER’S PRESIDENCY • WHO IS NOT GETTING THE MONEY??? • HOOVER’S “FIXES” • 1-AGRICULTURAL MARKETING ACT, JUNE 1929 • FEDERAL FARM BOARD • FARM COOPS • 2-GRAIN STABILIZATION CORPS. 1930 • COTTON STABLIZATION CORPS • 3-TARIFF • CAMPAIGN PROMISE • 1930 HAWLEY SMOOT • 38% TO 60% • IMPACT

  8. Coming of the Great Depression • Stock market speculation • “Black Thursday” Oct. 24, 1929 • Prices drop rapidly-----sell off------prices drop even more • JP Morgan & others--$30 mil in market • Hoover—”Fundamental business of the country is on a sound and prosperous base”

  9. GREAT DEPRESSION • Oct. 24, 1929—Black Thursday • Decreased prices----sell off----further decline in prices • OCT. 29, 1929 BLACK TUESDAY • IMPACT?? • BY END OF 1929 STOCKHOLDERS LOST 40 BIL IN “PAPER” VALUE • CAUSES OF THE GREAT DEPRESSION OVERPRODUCTION OVEREXPANSION OF CREDIT DECREASE OF WORLD TRADE-tariffs & war debt *DROUGHT IN MISSISSIPPI VALLEY 1930 TECHNOLOGICAL UNEMPLOYMENT TOO MUCH MONEY IN TOO FEW HANDS—Unequal distribution of wealth Bad Banking structure Limited Economic “Intelligence”

  10. Affects on different groups • Wealthy—”cushion” of cash • Middle class—wages drop • Can’t pick up the slack of investment • Business—less investment—close factories • Holding Corps/Trusts/Banks—no payback of debt; lost $ in market • Poor—lower wages or layoffs • DOWNWARD SPIRAL OR SNOWBALL AFFECT

  11. HOOVER’S POLICIES • 1 RECONSTRUCTION FINANCE CORP. • “TRICKLE DOWN ECONOMICS” • 2-NORRIS-LAGUARDIA ANTI INJUNCTION ACT 1932 • 3-USE CHARITIES—NOT GOV’T ASSISTANCE *1930 MIDTERM CONGRESSIONAL ELECTIONS BONUS ARMY

  12. 1932 ELECTION • DEMOCRAT FDR • REPUBLICAN HOOVER • NEW DEAL VS. “PROSPERITY IS JUST AROUND THE CORNER” • RESULTS: • DEMS TAKE PRES AND CONGRESS • AFRICAN AM VOTERS SHIFT TO DEM PARTY • FIRST 100 DAYS OF FDR’S PRESIDENCY • 3 R’S—RECOVERY, RELIEF AND REFORM

More Related