Chapter 26 - republican resurgence and decline

disillusionment

after WWII, war is not as great and honorable as assumed, horrifying

Harding

won election of 1920, republican, moralist, drank, smoked, gambled, adulterer, weak character

ohio gang

harding’s lesser advisors and offices

taft

supreme court justice, appointed to reverse progressive era decisions, made child labor illegal, minimum wage laws, illegal to go on strike

revenue act

benefits to wealthy, repealed gift tax and others, benefits to corporations

fordney-mccumber tariff

protectionism, placed big business proponents in regulatory agencies

we have torn up wilsonianism by its roots

lodge quote

veteran’s bureau

harding scandal, colono forbes caught stealing money

teapot dome

harding’s biggest scandal - secretary of interior fall takes $500,000 bribe from oil companies to drill in the government reserve

calvin coolidge

silent cal, conservative, big business, fundamentalist, deregulation of big business, skyrockets business mergers

the chief business of the american people is business

coolidge quote

keep cool with coolidge

republicans campaign slogan coolidge

consumerism

capitalistic lifestyle, mass advertising and less frugality, babbitt, prestige tied to products

san francisco

where did harding die after his alaska trip

wilbur and orville wright

invented airplanes

charles lindbergh jr

“spirit of saint louis” plane, 33.5 hours NY to Paris, flew across the world, son kidnapped

amelia earhart

1st woman to fly around the world, “outstanding american of the year

ford motor company

company that revolutionized the auto industry, made “the lizzie” model t, assembly line production, standardized parts, stimulated steel, rubber, glass, textiles, oil, roads, and real estate

McNary Haugen Bill

1. “yellow dog contracts” (promised to hire if you don’t join union)

2. welfare capitalism (private businesses offer benefits rather than government mandated social welfare)

Hoover

“the engineer” republican president, won 1928, supports rugged individualism, defends wife for inviting African Americans, raises money for Howard, sympathetc for farmers

Agricultural Marketing Act

hoover, establishes federal farm board, crop surplus program, “wanted” higher agricultural tariff

stock market

everyone bought on margins with property as collateral, causes crash when everyone sells stock at once

Black Tuesday

October 29, 1929, huge stock market drop, US income fell by more than 1/2, unemployment rising, farmers sell farms to pay debt

laissez faire

hands off government policy, corporations unregulated, factories and mines shut down, gold standard and not enough currency

reconstruction finance corporotion

emergency loans to banks, insurance corps, building and loan companies, farm mortgage association

bonus expeditionary force

15,000 veterans marched on washington, wanted early cash bonus that congress had voted to be payed in 1945, “army” camped in shanty-town near capitol building, MacArthur drives them out