Chapter 24 - The Reactionary Twenties

Vocabulary flashcards covering the political scandals, economic policies, and international treaties of the $$1920s$$ and the onset of the Great Depression as described in the lecture notes.

Charles Evans Hughes

The Secretary of State under the Harding administration.

Andrew W. Mellon

The Secretary of the Treasury under the Harding administration.

Herbert Hoover

The Secretary of Commerce under Harding who later became President and promoted the policy of rugged individualism.

Albert B. Fall

The Secretary of the Interior who was sent to prison following the Teapot Dome scandal.

Harry Daugherty

The Attorney General under Harding who was noted for selling pardons and liquor permits.

Forbes

The Director of Veterans Affairs who committed fraud amounting to $200$ million dollars and was sent to prison.

Adjusted Compensation Act of $1924$

A law that provided a bonus to military veterans after World War I.

Washington Conference and Five-Power Naval Treaty

International agreements that limited the size of navies for the United States, United Kingdom, Japan, France, and Italy.

Nine-Power Treaty

A treaty designed to keep the open door policy in China, involving countries like the Netherlands (NL), Belgium (Be), Portugal (PT), and Switzerland (CH).

Kellogg-Briand Pact

An international agreement that outlawed war as a tool of national policy.

Fordney-McCumber Tariff

A tariff that increased the average rate to $38.5\%$, which benefited industry but negatively impacted farmers and led Europe to erect its own tariff walls.

Teapot Dome Scandal

A scandal involving bribes and the illegal leasing of government oil reserves land.

Silent Cal (Calvin Coolidge)

The pro-business successor to Harding who supported low taxes and debt reduction and was known for not being related to the previous administration's scandals.

McNary-Haugen Bill

A proposal for the government to buy surplus crops to maintain farm price levels from $1910-1914$; it was vetoed by Coolidge $3$ times.

Dawes Plan

A financial plan where private investors loaned money to Germany so it could pay reparations to Britain and France, who in turn paid back the United States.

Agricultural Marketing Act

An act that established a federal Farm Bureau fund with $\frac{1}{2}$ billion dollars.

Hawley-Smoot Tariff

A protective tariff that reached $60\%$, the highest in history, which triggered international economic warfare and worsened the depression in Europe.

Black Tuesday

The day the stock market collapsed, leading to business failures, job losses, and home foreclosures.

Rugged Individualism

Hoover's belief that the government should bail out businesses rather than providing direct handouts to individuals.

Reconstruction Finance Corporation

An agency intended to stop bank closures by providing liquidity, though criticized for primarily bailing out the wealthy.

Bonus Army

A group of World War I veterans who marched to demand payments owed to them; they were forcibly removed by the administration using tear gas.

Good Neighbor Policy

A policy of nonintervention in international affairs promoted by President Hoover.