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Republican Economic Policies in the 1920's

Presidents of the 1920's and their policies
by

Nolan Roe

on 25 August 2012

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Transcript of Republican Economic Policies in the 1920's

Republican Economic Policies in the 1920's Calvin Coolidge President Harding Promised, "less government in business and more business in government."
Dismantled Regulatory Boards established during WWI to control businesses, resources, prices, and labor - no more governmental control of businesses
Hired business leaders to fill gov't posts - Herbert Hoover, Andrew Mellon - to run the gov't effeciently like a business
Fordney-McCumber Tariff - raised taxes on industrial and agricultural imports -> protected American businesses and farmers from foreign competition
Supreme Court passed "Rule of Reason"
Tea Pot Dome Scandal - Harding's Secretary of Interior Albert Fall illegally gave rights to federal oil deposits to oil companies in exchange for kickbacks All of these led to Less involved than Harding
"Business of America was business"
Large Tax Cuts - given to businesses to aid their growth and increase investments
Vetoed bill designed to regulate farm prices - farmers struggle
Dawes Plan Herbert Hoover Never elected to office before being the president
Self-Made Millionaire
Made name for himself during WWI - rand agencies efficiently like they were businesses
Continues hands off approach and aid-to-business practices of Harding and Coolidge
Rugged Individualism - Americans responsible for own economic growth, government not to aid individuals, only business Overall Massive economic growth
Debt and hardship for farmers
Growth of consumer products and culture Widespread investment in stock market and speculation
Consolidation of wealth in fewer and fewer corporations
Labor unions lost support and companies refused to allow them "Return to Normalcy"
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