APUSH Chapter 31: The Politics of Boom and Bust [The Great Depression] (American Pageant)

Calvin Coolidge

________, Hardings VP, becomes president following Hardings death in 1923 → from New England, he was brilliant but serious and extremely quiet.

Esch Cummins Transportation Act

________ (1920): encouraged private management of railroads; the ICC had to ensure they would be profitable- govt.

Dawes Plan

________ (1924): adjusted German reparation payments to make them easier to pay off so that they may eventually rebuild their economy and give money to England and France, who would use those payments to reimburse the US for their loans.

Global Economic problems

________: because nations were busy paying off war debts and reparations.

Hoovervilles

________: slums that started after people were unable to pay off their mortgages and their houses were foreclosed- further increases resentment towards Hoover.

Weather

________: severe drought in the Mississippi Valley and the Dust Bowl caused thousands of farms to be sold as farmers had to look for work elsewhere.

Adkins

________ v. Childrens Hospital (1923): reversed the decision from the case Muller v. Oregon that declared women have special protections in the workforce- argued that, bc of the 19th amendment, women are equals and therefore don't need protections.

Finance Corporation

Reconstruction ________ (1932): lent money to insure companies, banks, railroads and agricultural organizations, hoping that the benefits would ‘ trickle down to workers- preserved.

Kellogg Briand Pact

________ (1928): signed between the US and the French foreign minister, it was ratified by 62 other nations and outlawed war UNLESS it was defensive (meaning another country attacked first) essentially useless because all wars start when one country attacks another but shows how desperate the US is for a false sense of security.

Excessive use of credit

________: these installment plans stimulated consumer buying by allowing people to purchase the latest inventions and technology.

Compensation Act

Adjusted ________ (1924): after some conflict, Congress agrees to pay veterans a sum of money depending on their years of service.

Commerce Herbert Hoover

Of ________: used to be food administrator during wartime, promoted because he prioritized foreign trade.

Bonus Army

________: where WW1 veterans marched to DC to demand immediate payment of their entire bonus, but Hoover sends troops to teargas them → Hoovers reputation is further tarnished.

Income inequality

________: workers wages stayed the same as corporate profit increased and the general public was forced to take on the financial burdens.

Agricultural Marketing Act

________ (1929): set up the Federal Farm Board to buy agricultural surpluses, which would stabilize the prices of crops however, the board ultimately failed because it couldn't handle all the surpluses.

Hoover

Govt's policies: supported Hoover's "rugged individualism "beliefs in self help in order to build American character ________ plays little role in public welfare and people resent ________.

Mellon

________ made many tax reductions for the rich (in income, estate, and excess profit taxes) → these "spare the rich "policies shifted tax burdens to the middle class.

Nine Power Treaty

________: all powers would abide by the Open Door policy in China, which gave every country equal shares over trading.

Stock Market speculation

________: where investors bought stocks on margin using borrowed $- led to erroneously high stock prices.

Treasury Andrew Mellon

Of ________: wealthy Pittsburgh aluminum steel king who believed high taxes on the rich were annoying (obviously) and that they brought a smaller net return to the Treasury.

Less progressive

preferred helping people by cooperating with big business instead of direct govt

created the Veterans Bureau (1921)

provided hospitals and rehab services for disabled veterans

Five-Power Treaty

limited the construction of certain types of large naval ships and applied ratio limits to how many a country could build

Four-Power Treaty

it replaced an old Anglo-Japanese treaty and preserved the status quo in the Pacific (?)

Kellogg Briand Pact (1928)

signed between the US and the French foreign minister, it was ratified by 62 other nations and outlawed war UNLESS it was defensive (meaning another country attacked first)essentially useless because all wars start when one country attacks another but shows how desperate the US is for a false sense of security

Teapot Dome Scandal (1922)

Albert Fall accepted bribes in exchange for leasing govt land to oil companies spilling tea about govt corruption; public is now suspicious reputation is worsened with more scandals throughout the years

Election of 1924

although Coolidge ultimately won re-election, Senator Robert La Follette of Wisconsin gained significant support from farmers and labor unions for his liberal and progressive reform ideas

Dawes Plan (1924)

adjusted German reparation payments to make them easier to pay off so that they may eventually rebuild their economy and give money to England and France, who would use those payments to reimburse the US for their loans

Election of 1928

Coolidge decided not to run, so Republicans nominate his Secretary of Commerce Herbert Hoover

Agricultural Marketing Act (1929)

set up the Federal Farm Board to buy agricultural surpluses, which would stabilize the prices of crops however, the board ultimately failed because it couldn't handle all the surpluses

Hawley Smoot Tariff (1930)

although it was intended to mildly change the existing tariff to provide greater relief for farmers, it ended raising the tariff by 60% after numerous amendments by lobbyists deepened the financial depression that had already begun in the US and other nations

Black Tuesday (1929)

millions of stocks were sold in a panic

Govt's policies

supported Hoover's "rugged individualism" beliefs in self help in order to build American character Hoover plays little role in public welfare and people resent Hoover

Global Economic problems

because nations were busy paying off war debts and reparations

Weak Farm Economy

farmers had trouble selling their crops, which led to farm foreclosures

Norris-LaGuardia Anti-Injunction Act(1932)

banned anti-union contracts and said federal courts couldnt stop any peaceful protests by labor unions → labor unions have little to no obstacles in protesting, so their employers would be more likely to give into their demands

Bonus Army

where WW1 veterans marched to DC to demand immediate payment of their entire bonus, but Hoover sends troops to teargas them → Hoovers reputation is further tarnished