APUSH Chapter 32 – The Politics of Boom and Bust – Flashcards

29th president inaugurated 1921. He, like Grant, was unable to detect immoral people working for him. He was also very soft in that he hated to say "no," hurting peoples' feelings. He called for a return to normalcy following WWI

Secretary of State under Harding, Proposed a 10-year moratorium on the construction of major new warships at the Washington Conference

Still Treasury, the Pittsburgh aluminum king

Under Harding, the secretary of commerce

Declared unconstitutional a minimum wage law for women on the grounds that it denied women freedom of contract -- declared that under the 19th Amendment, women were no longer deserving of special protection in the workplace.

Make sure corporations could once again expand without worry of the antitrust laws -- Struck down progressive legislation. -- government to have no control over businesses and for the government to help guide businesses along the path to profits.

encouraged private consolidation of the railroads and pledge the Interstate Commerce Commission to guarantee their profitability

authorized the Shipping Board, which controlled about 1500 vessels, to dispose of much of the hastily built wartime fleet at bargain-basement prices

American shipping could not thrive in competition with foreigners, who all too often provided their crews with wretched food and starvation wages.

perate hospitals and provide vocational rehabilitation for the disabled. Veterans organized and formed pressure groups

Created by Colonel Theodore Roosevelt, Jr. Legionnaires met to renew old hardships and let off steam. The legion became distinguished for its militant patriotism, conservatism, and antiradicalism.

giving every former soldier a paid-up insurance policy due in 20 years.

A joint resolution passed in July 1921 that officially put an end to WWI because due to the rejection of the Treaty of Versailles, America was still technically at war with Germany, Austria, and Hungary for 3 years after the armistice.

a national policy of avoiding involvement in world affairs

a sharp rivalry had developed between America and Britain for oil-drilling rights. Secretary Hughes eventually secured the rights for American oil companies to share the oil-rich land with Britain.

the reduction of armed forces and weapons

Secretary Hughes laid out a plan for declaring a ten-year hiatus on construction of battleships and even for scrapping some of the huge ships already built. He proposed that the scaled-down navies of America and Britain should have the same number of battleships and aircraft carriers; the ratio being 5:5:3 (Japan's navy would be smaller than America's and Britain's). -- There where two reason for which the conference was called: Firstly, Japan and the UK could not afford the costs of the arms race and the United States wanted to reduce its own costs. Secondly there was growing tension between Japan and the United States in Asia and the United States wanted to avoid conflict which could involve many countries

Called upon British and Americans to put a 10 year ban on military stuff. Also to accept a ratio for balance of naval power

between Britain, Japan, France and the United States replaced the 20-year old Anglo-Japanese Treaty and preserved the status quo in the Pacific, that no countries could seek further territorial gain

Coolidge's Secretary of State; won Nobel Peace Prize for role in Kellogg-Briand Pact

Pact of Paris signed with the French Ministry and it ratified by 62 nations. -- made war illegal as a tool of national policy, allowing only defensive war. The Treaty was generally believed to be useless.Defensive wars were still permitted; causing one to wonder what scheming aggressor could not make an excuse of self-defense.

A comprehensive bill passed to protect domestic production from foreign competitors. As a direct result, many European nations were spurred to increase their own trade barriers. -- raising the tariff from 27% to 35%. American businessmen did not want Europe flooding the markets with cheap goods after the war.

Presidents Harding and Coolidge were much more prone to increasing tariffs than decreasing them; this presented a problem: Europe needed to sell goods to the U.S. in order to get the money to pay back its war debts, and when it could not sell, it could not repay.

1923 -- head of the Veterans Bureau, was caught stealing $200 million from the government, chiefly in connection with the building of veterans' hospitals.

a government scandal involving a former United States Navy oil reserve in Wyoming that was secretly leased to a private oil company in 1921

The Harding Cabinet member who profited from and was convicted for the Teapot Dome Scandal. Fall then leased the lands to oilmen Harry F. Sinclair and Edward L. Doheny, but not until he had received a bribe of $100,000.

Harding died of pneumonia and thrombosis in San Fran while on speech tour

30th president -- Vice President took over the presidency following Harding's death. e was extremely shy and delivered very boring speeches.

exempted farmers' marketing cooperatives from anti-trust prosecution.

Peace had brought an end to government-guaranteed high prices and to massive purchases of farm products by other nations. Machines also threatened to plow the farmers under an avalanche of their own overabundant crops. Because farmers were able to create more crops with more efficiency, the size of surpluses decreased prices.

(3rd Party in 1924 election) Wisconsin leapt forward to lead a new liberal Progressive party. He was endorsed by the American Federation of Labor and by farmers. The Progressive party platform called for government ownership of railroads and relief for farmers, lashed out at monopoly and antilabor injunctions, and urged a constitutional amendment to limit the Supreme Court's power to invalidate laws passed by Congress.

Exception to US's isolationist policies. American troops remained in Haiti from 1914-1934, and were stationed in Nicaragua from 1926-1933.

$16 billion - merican investors had loaned about $10 billion to the Allies in WWI, and following the war, they wanted to be paid. The Allies, especially the French and British, protested the demand for repayment pointing out that they had lost many troops and that America should just write off the loans as war costs.

Negotiated by Charles Dawes, it rescheduled German reparations payments and opened the way for further American private loans to Germay. United States bankers loaned money to Germany, Germany paid reparations to France and Britain, and the Allies paid war debts to the United States.

Coolidge didn't want to run again so Herbert Hoover, Stanford Alum, was nominated by the Republican Party because experiences abroad strengthened his faith in American individualism, free enterprise, and small government. The Democrats nominated Alfred E. Smith.

the unorganized wage earners and the disorganized farmers.

passed in 1929, was designed to help the farmers. It set up the Federal Farm Board, which could lend money to farm organizations seeking to buy, sell, and store agricultural surpluses.

which began desperately buying up wheat. The board managed to boost U.S. prices to 18 cents a bushel above world wheat prices, which led to the collapse of U.S. wheat exports. The agency eventually failed.

which could buy, store, and sell cotton in order to stabilize cotton prices. The agency eventually failed.

Started out as a mild tariff before 1,000 amendments were added to it. It raised the tariff to 60%, becoming the nation's highest protective tariff during peacetime. The tariff deepened the depression that had already begun in America and other nations, and it increased international financial chaos.

Catastrophic stock-market crash. It was partially triggered by the British, who raised their interest rates in an effort to bring back capital lured abroad by American investments. The British needed money; they were unable to trade with the United States due the high tariffs.

"Black Tuesday" -- millions of stocks were sold in a panic. By the end of 1929, two months after the initial crash, stockholders had lost $40 billion

overproduction by both farm and factory. The nation's ability to produce goods had outrun its capacity to consume or pay for them. -- Overexpansion of credit also contributed to the depression.

Region of the Great Plains that experienced a drought in 1930 lasting for a decade, leaving many farmers without work or substantial wages.

Thought the system of "trickle down" would work best -- if the government invested all the money in the top, than everyone would benefit in the long run because the money would trickle down through the system. Very very opposed to socialistic actions

Bills that would allocate funds to dam the Tennessee River and provide employment, is vetoed by Hoover

designed to provide indirect economic relief by assisting insurance companies, banks, agricultural organizations, railroads, and state and local governments.

outlawing antiunion contracts and fording federal courts to issue injunctions to restrain strikes, boycotts, and peaceful picketing.

a large group of unemployed World War 1 veterans who protested in Washington DC to get an early payment of the bonus promised to them; driven out by force -- 20,000 people, converged on the capital in the summer of 1932

September 1931, saw that the Western world was bogged down in the Great Depression, invaded the Chinese province of Manchuria. Although a direct violation of the League of Nations, the League was unable to do anything because it could not count on America's support.

Secretary of State under Hoover, decided to only "fire paper bullets" at the Japenese over their invasion of Manchuria.

proclaimed that the US would not recognize any territorial acquisitions achieved by force.

Japanese invaded completely ignoring the Stimson doctrine

FDR's foreign policy of promoting better relations w/Latin America by using economic influence rather than military force in the region---President Hoover brought better relations with America's Latin American neighbors. An advocate of international goodwill, he withdrew American troops from Latin America.