Chapter 32 - The Politics of Boom and Bust

Interstate Commerce Commission

Interstate Commerce Commission

Was run by men who were sympathetic to those who managed the railroads

Kellogg-Briand Pact

Was ratified in 62 nations, with it attempting to outlaw war with the exception of defensive wars being permissible

McNary-Haugen Bill

Was created to keep agricultural prices high by authorizing the government to buy the crop surpluses and then sell them abroad

Hoover

Created a plan in which the government would help railroads, banks, and rural credit corporations with the hopes that unemployment rates would lessen if financial health was restored

Capper-Volstead Act

Kept farmers marketing cooperatives from having to face anti- trust prosecution

Harry M Daugherty

Fall was an anti- conservationist who was the secretary of the interior and ________ was the attorney general, with both of them being corrupt.

Reconstruction Finance Corporation

Lent money to insurance companies, banks, agricultural organizations, railroads, and local and state governments

Congress

________ created the Veterans Bureau to operate hospitals and provide vocational rehabilitation for the disabled in 1921.

Dawes Plan of 1924

Addressed the issue of debt repayment

Great Depression

The ________ worsened the economic state in Europe which hadnt yet recovered from World War I.

isolationism

He (Herbert Hoover) supported ________, individualism, free enterprise, and small government.

flow of money

The ________ was disrupted by a downturn in the global economy.

overexpansion of credit

The ________ also played a role in leading to the Great Depression.

Teapot Dome Scandal of 1921

Consisted of a scandal having to do with secretary of the interior, Albert B. Fall

Hughes

Was the secretary of state, Mellon was the secretary of treasury, and Hoover was the secretary of commerce

Merchant Marine Act of 1920

Authorized the government to sell its wartime fleet of 1, 500 vessels at low prices

Four-Power Treaty

Between Japan, Britain, Frame, and the U.S. replaced the Anglo-Japanese Treaty

Japanese imperialists

Invaded the Chinese province of Manchuria

Fordney-McCumber Tariff Law of 1922

Raised tariffs from 27% to 35%

Hoover

________ believed that industry and self- reliance had made America great in the beginning of the depression.

Great Depression

Overproduction by farms and factories was one of the main causes of the ________.

Hoover

________ convinced Congress to allocate $ 2.25 billion for useful public works such as the Hoover Dam.