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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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Economic developments
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.

Warren g harding
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.

Scandals at the national level
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?

Significant foreign affairs
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.

Foreign affairs
Foreign Affairs

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

Silent cal takes over
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.”

Domestic legislation
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.

Herbert hoover
Herbert Hoover

  • Election of 1928.

  • Hoover v. Al Smith.

  • Hawley-Smoot Tariff of 1930.

  • Highest protective tariff in history.

  • Implications worldwide?

Stock market crash
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