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The Politics of Boom and Bust 1920-1932 The Republican “Old Guard” Returns President Warren G. Harding was elected. His cabinet did have some good officials, though, such as Secretary of State Charles Evans Hughes, Secretary of Commerce Herbert Hoover, and Secretary of the Treasury Andrew W. Mellon. However, people like Senator Albert B. Fall of New Mexico, a scheming anti-conservationist, became secretary of the interior, and Harry M. Daugherty took over the reigns as attorney general. GOP Reaction at the Throttle Harding hoped to further laissez-faire capitalism Harding appointed four of the nine justices, including William H. Taft, former president of the United States. In the early 1920s, the Supreme Court killed a federal child-labor law. In the case of Adkins v. Children’s Hospital, the court reversed its ruling in the Muller v. Oregon case by invalidating a minimum wage law for women. Under Harding anti-trust laws were not as enforced or downright ignored. Men sympathetic to railroads headed the Interstate Commerce Commission The Aftermath of the War Wartime government controls disappeared (dismantling of the War Industries Board) and Washington returned control of railroads to private hands by the EschCummins Transportation Act of 1920. The Merchant Marine Act of 1920 authorized the Shipping Board, which controlled about 1,500 vessels, to get rid of a lot of ships at bargain prices, thus reducing the size of the navy. Labor lost much of its power, as a strike was ruthlessly broken in 1919, and the Railway Labor Board ordered a wage cut of 12% in 1922. Labor membership shrank by 30% from 1920 to 1930 The Aftermath of the War cont. In 1921, the Veterans’ Bureau was created to operate hospitals and provide vocational rehabilitation for the disabled. Many veterans wanted the monetary compensation promised to them for their services in the war. The Adjusted Compensation Act gave every former soldier a paid-up insurance policy due in twenty years. It was passed by Congress twice (the second time to override president Calvin Coolidge’s veto). America Seeks Benefits Without Burdens Since the United States was not a part of the league of nations it failed. America also gained ground in the middle east, by staking claims in oil. Disarmament was also very big during this time Treaties like the five power naval treaty, four power treaty, Anglo Japanese Treaty and The Nine Power Treaty were passed. Hiking the Tariff Higher Fordney McCumber Tariff law President Harding and Coolidge always sided with the big business Since the U.S. did not want European goods they had no way to pay back their debts The Stench of Scandal Charles R. Forbes resigned as the head of the Veterans Bureau They stole money from the government (around 200 million) The teapot scandal was when Albert B. Fall took bribes from large oilmen, Henry F. Sinclair and Edward L. Doheny Harry Daughtery gave out illegal liquor permits. President Harding died in San Francisco on August 2, 1923 “Silent Cal” Coolidge After Harding’s death Vice President Calvin Coolidge was sworn into office by his father, using an old family Bible Born and raised in Vermont, he embodied the new England virtues of honesty, morality, industry, and frugality. Very serious, and shy Supporter of big business, wanted to reduce taxes and debts. Frustrated Farmers During War times farmers prospered due to massive purchases by foreign nations, a high demand, and government- guaranteed high prices Farmers began using the gasoline powered tractor, which improved efficiency and helped keep up with the high war time demand. After the war ended foreign production reentered the world market and demand lessened, farmers were left with an overabundance of crops and an agricultural depression The Capper-Volstead Act and McNary-Haugen Bill proposed to bring relief to farmers, not effective A Three-Way Race for the White House in 1924 Coolidge, Republican nominee for election of 1924 Democratic party, split into many categories, finally settled on the nomination of John W. Davis, a wealthy lawyer connected to Wall Street banking house of J.P Morgan. “Fighting Bob” La Follette stepped forward to lead a new progressive group, most of the following made up of struggling farmers Coolidge and the Republicans won easily with a 15,718,211 to 8,385,283 and an electoral count of 382 to 136, and 13 for La Follette Foreign-Policy Flounderings American troops in the Caribbean and Central America were withdrew from the areas but some American troops remained in Haiti from 1914-1934 and in Nicaragua from 1926- 1933. In1926, The Mexican Government declared its control over the oil resources in Mexico. The Allies protested the demand for repayment pointing out that they had lost a lot of troops and that America should just write off the loans as war costs. America’s new tariff made it a lot harder for European Allied nations to sell their goods and earn money to pay their debts. Unraveling the Debt Knot America demanded that France and Britain repay them for the war, so they pressed Germany for large amounts of payments totaling up to 32 billion dollars in war-inflicted damages. The Dawes Plan of 1924-rescheduled German reparations payments and opened the way for Americans to give private loans to Germany. US Banks loaned money to Germany, Germany paid money to France and Britain, and the Allies paid war debts to the US. The US never did get its money from Europe. Bibliography 1915-Jacmel, Haiti: American occupation of Haiti 1915. Stationed at Jacmel. Bettmann Standard RM. http://pro.corbis.com/search/Enlargement.aspx?CID=isg&mediauid= %7B01B6FB32-D7AB-4BFF-B18C-24F8456340FE%7D NNDB. Charles G. Dawes. Copyright ©2009 Soylent Communications. http://www.nndb.com/people/746/000091473/ Www.senate.gov." U.S. Senate. 10 Mar. 2009 <http://www.senate.gov/.../image/LaFolletteRobertSr.htm>. "Election of 1924." American History and World History. 10 Mar. 2009 <http://www.historycentral.com/elections/1924.html>. Infoplease: Encyclopedia, Almanac, Atlas, Biographies, Dictionary, Thesaurus. Free online reference, research & homework help. — Infoplease.com. 10 Mar. 2009 <http://www.infoplease.com/ce6/history/A0848032.html>.