The 1920s

The 1920s - The 1920s A. Roaring Twenties: America turned...

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The 1920s A. Roaring Twenties: America turned away from the ideals of progressivism 1. Culturally and socially change a. Artistic innovation b. High-society antics c. Popular culture 2. Economy boomed a. Progress in new technology-radio b. Soaring business profits c. Higher wages o Wide range of consumer goods purchased-luxury goods d. Prosperity o Provided more leisure time o Literature, film, music B. 1920 Presidents-Republicans: Wilson’s failure made R. support grow 1. Reversed the Progressive Era trend of corporation regulation (regulating big businesses and lowering tariffs) a. gave corporations free rein, raised protective tariffs, cut taxes for the rich b. Supreme Court overturned many measures designed to regulate the activities of big business; courts declared boycotts by labor unconstitutional and authorized use of antitrust laws against unions c. Smoot-Hawley Tariff of 1930: hiked importation rates to all time highs, protected American companies from international competition 2. Warren G. Harding (1920) a. Won on the promise of a “return to normalcy”-return to big business b. Administration is known for its corruption-Teapot Dome scandal o Secretary of the Interior Albert B. Fall secretly leasing government oil reserves to two businessmen and accepting $400,000 in return c. Died in office-1923 3. Calvin Coolidge a. Strong pro-business b. Opposed government regulation of or interference with the economy 4. Herbert Hoover (1928) a. Different stance toward big business b. Thought capitalism produced social obligations c. Believed in voluntarism rather than government force as a method of fulfilling these obligations C. Politics 1. Isolationism a. Tired from the war and disillusioned by Wilson’s failure with the League of Nations and new world order o Republican-dominated government strongly advocated the spirit of retreating from global affairs b. US aimed to stay out of European affairs and severely limited immigration c. 1928-US, France, and 60 other nations signed Kellogg-Briand Pact o outlawing of war and an end to aggression
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o strong in theory but no enforcement mechanism d. US still became involved in international affairs over issues of war debts and reparations o Dawes Plan (1924)-scaled back US demand for debt payments and reparations and established a cycle of US loans that provided Germany with funds for reparations to the Allies (funding Allied debt payments to the US) D. Decade of Prosperity 1. Past the postwar recession from mid 1920 and end of 1921, economy picked up a. Prosperity + tax cuts for the rich = rising consumer culture o New nature of consumerism
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This note was uploaded on 02/17/2011 for the course HIST 072 taught by Professor Jenniferl.bertolet during the Fall '08 term at GWU.

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The 1920s - The 1920s A. Roaring Twenties: America turned...

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