Chapter 33 Notes
AP US History
Mrs. Marshall
Presidents during 1920’s
1920 Warren Harding
1923 Calvin Coolidge
1924 Calvin Coolidge
1928 Herbert Hoover
All were Republicans
died in 1923
takes over
is elected
is elected
Harding administration is
remembered for scandals:
Ohio Gang- some of his cabinet
appointments
Teapot Dome Scandal- Sec. of Interior
Albert Fall, after receiving kickbacks,
leased Teapot Dome Oil Reserves in
Wyoming and Elks Hill Reserves in
California
Coolidge devoted to principal of laissez
faire- which meant he favored
government policies that promoted
business and limited government
interference.
He said, “the chief business of the
American people is business”
Andrew Mellon- Secretary of the
Treasury for Harding, Coolidge and
Hoover
Esch-Cummins Transportation
Act (1920)
provided for the return of railroads to
private control following the takeover
by the government during WWI
Fordney McCumber Tariff Act
(1922)
contained the highest rates in US history and
completely repudiated the low tariff policy
established by Wilson
Results of tariff:
European nations raised their tariffs
The postwar chaos in Europe was prolonged
International economic distress deepened
American foreign trade declined
Soldiers Bonus Act passed over
Coolidge’s veto in 1924. Payment to be
made in the form of a 20 year
endowment.
1931-1932 veterans demanded
immediate payment. Certificates were
not redeemable until 1945.
1932 Bonus Expeditionary Force (BEF)
marched to nation’s capital and
demanded early payment.
Government offered to pay for their
return trip home. Some refused to leave.
US Army led by Gen. Douglas MacArthur
joined DC police and used tanks and tear
gas to drive them out.
Even though the US never joined the
League of Nations by 1931, 212
persons had been appointed to
participate in more than 40
conferences.
Washington Naval Armaments
Conference (1922)
9 treaties drafted and signed by leading
naval nations
10 year naval building holiday was
agreed to
agreed to respect each others rights in
the Pacific
endorsement of the Open Door
principal by guaranteeing China’s
independence and territorial integrity
Overproduction was the major problem
for farmers in the 1920’s.Coolidge
refused on 2 occasions to sign the
McNary-Haugen Bill which would
subsidize farm prices
1924 Election
Calvin Coolidge
John Davis
Robert La Follette
Calvin Coolidge won.
Republican
Democratic
Progressive Party
Caribbean and Central America
Dominican Republic-after 8 years US
withdrew its marines in 1924
Haiti – US troops remained until 1934
Honduras quickly withdrew forces after
helping settle an election dispute in
1925
Caribbean and Central America
Nicaragua- US Marines had been in
Nicaragua since 1912. Removed for
short time in 1925 but were brought
back to fight against revolutionary
forces
Dawes Plan (1924)
provided a manageable plan for Germany
to repay war debts.
New taxes in Germany
Stabilization of the German currency
Placing Reichsbank under Allied supervision
Massive US loans
Germany paid the Allies who in turn paid their
debts to the US
Election of 1928
Herbert Hoover-Republican Secretary
of Commerce under Harding and
Coolidge
Al Smith- Democratic Governor of New
York
Herbert Hoover won.
Agriculture Marketing Act 1929 created
the Federal Farm Board which loaned
money to farmers to help them organize
producer cooperatives. Goal was to raise
prices by buying up surpluses
Hawley-Smoot Tariff 1930
Raised tariffs to the highest in history.
Intention was to increase the protection
for domestic farmers against foreign
agricultural imports.
European nations retaliated and
international trade came to a standstill.
Reason for decline in consumer
spending in late 1920’s
Prices of goods rising faster than
wages
People had bought on credit- over
extended themselves
Farmers had less money to spend
Causes of Great depression:
Agricultural overproduction
Unequal distribution of income
Overextension of credit
Anemic foreign trade
Farmer disasters and debt
Black Tuesday
October 29, 1929 when
stock prices fell so sharply people said
the market had “crashed”.
There were no buyers for the stock.
Many people panicked and withdrew
money from banks. Banks failed. When
banks failed other depositors lost their
deposits.
Businesses closed and millions of
Americans lost their jobs.
How depression affected
people/famlies
People evicted from apartments and homes
Slept under newspapers (Hoover blankets) in
shantytowns.
Stood in line to get food at soup kitchens
Some men abandoned their families
Men stood on street corners selling
newspaper, or apples or shining shoes to
make money
Decrease in the marriage rate
Decrease in the birth rate
Increase in the divorce rate
Increase in the suicide rate( white
males)
Children suffered from poor diets and
lack of health care
Many schools closed or shortened the
school year
Hoover did not believe in direct relief.
His philosophy was based on the
“bootstrap theory” of rugged
individualism and economy would
correct itself if there was minimal
interference by the government.
Boulder Dam (Hoover Dam)
A massive public works project of
damming the Colorado River to provide
irrigation, flood control and electric
power.
Norris-LaGuardia Act 1932
A controversial pro-labor union law that
outlawed “yellow dog contracts” and
restricted the courts ability to issue
injunctions to restrain strikes, boycotts
and picketing
Reconstruction Finance
Corporation
made loans to businesses, banks and
state and local governments. A major
change in policy but it came too late to
help
Sept. 1931 Japanese imperialists
overran the Chinese province of
Manchuria.
In response to the League of Nations’
investigation into Japan’s invasion and
occupation of Manchuria Japan left the
League.
Henry L. Stimson- Secretary of State
Stimson Doctrine (1932) declared the US
would not recognize any territorial
acquisition achieved by force of arms