Chapter 24

Chapter 24 - Chapter 24: the new Era 1920-1929 The big...

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Chapter 24: the new Era 1920-1929 The big Business Triumphant New Economic Expansion o Electric energy o Factories using electric motors dominated industry, increasing productivity & sending thousands of steam engines to scrap heap o o Urban households now had electric lighting, utilize new appliances such as refrigerators, toasters, & vacuum cleaners o o Installment/time payment drove new consumerism o Oligopoly, control of an entire industry by a few large firms o o o o These special interest groups participated in “new lobbying” o Complex society in which gov’t was playing an increasingly influential role, hundreds of organizations o Lobbyists were so think they were constantly falling over one another o Prodded by lobbyists, Congress cut taxes on corporations & wealth individuals & next year raised tariff rates in Fordney-McCumber Tariff act o Coronado Coal Company v. United Mine workers- Taft ruled that striking union, like a trust, could be prosecuted for illegal restraint of trade o Maple floor association v. US- court decided that trade associations that distributed anti-union info were not acting in restraint of trade o Court voided restrictions on child labor & overturned a min. wage law affecting women b/c it infringed on liberty of contract Setbacks for Organized Labor o Public opinion turned against workers who disrupted everyday life w/strikes o Courts at both state & federal level issued injunctions to prevent strike s& permitted businesses to sue unions for damages suffered from labor actions o Corporations countered appeal of unions by offering pensions, profit sharing, & company-sponsored o Languishing Agriculture o Agriculture was one sector of national economy that languished during 1920’s o Pressed into competition w/growers in other countries & trying to increase productivity by investing in new machines such as plows, harvesters, & tractors, American farmers found themselves further beset by debt o Many farmers became tenants b/c the lost their land; more quit farming altogether o Made gov’t a compliant coordinator rather than active manager Roosevelt had advocated o Warren G Harding appointed some capable assistants who helped promote business growth o His administration helped streamline federal spending w/budget & accounting act (created Bureau of Budget), supported anti lynching legislation(rejecting by congress), & approved bills assisting farm cooperatives &
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Chapter 24 - Chapter 24: the new Era 1920-1929 The big...

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