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Political Developments of the Post WWI Era

Political Developments of the Post WWI Era. The Republicans Rule. Economic Developments. “Golden Twenties” New industries and fields: autos, chemical, radio, movies etc. Output and profits increased. Flaws in the Business Boom -

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Political Developments of the Post WWI Era

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  1. Political Developments of the Post WWI Era The Republicans Rule

  2. Economic Developments “Golden Twenties” • New industries and fields: autos, chemical, radio, movies etc. • Output and profits increased. Flaws in the Business Boom - • Coal mining, textiles, agriculture, and the railroads. Purchasing power could not keep up with the increasing output of goods.

  3. Warren G. Harding • Conservative Republican “Return to Normalcy.” • Favored less gov’t, reduced federal spending and restricted use of Pres. Powers. • Pro-business, higher tariffs, lower taxes, lax gov’t regulatory agencies, leaned toward isolationism.

  4. Scandals at the National Level • Charles Forbes. Veterans Bureau. Embezzled millions. • Harry M. Daugherty. Attorney General. Received kickbacks in the rigged sale of government property. • Albert Fall. Secretary of the Interior. Teapot Dome Scandal. • Could you compare and contrast the Grant and Harding administrations?

  5. Significant Foreign Affairs • Return to Isolationism. Rejection of the Treaty of Versailles and non-participation in the League of Nations. Washington Conference. (1921-1922) • Five-Power Agreement: provided for partial naval disarmament. • Nine-Power Agreement: pledged respect and territorial integrity of China.

  6. Foreign Affairs • Kellogg-Briand Pact. (1928) Signed by 62 nations. Outlawed aggressive war?

  7. Silent Cal takes over. Election of 1924. • Coolidge/Republicans. • John Davis/Democrats • Robert La Follette & Progressive Party. • Coolidge won easily. But, La Follette polled over 5 million votes. • “The business of America is business.”

  8. Domestic Legislation • Emergency Quota Act of 1921. Set quotas for “preferential” immigrants. • Immigration Act of 1924. Tightened immigration restrictions. Replaced the 1921 act. • Adjusted Compensation Act of 1924. Provided WWI vets with paid up life insurance policies.

  9. Herbert Hoover • Election of 1928. • Hoover v. Al Smith. • Hawley-Smoot Tariff of 1930. • Highest protective tariff in history. • Implications worldwide?

  10. Stock Market Crash • Overspeculation in real estate and stocks. • Black Tuesday: October 29, 1929. • Beginning of the the Great Depression • Reasons: • Overpriced stocks • Margin buying

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