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President Harding - business agencies Herbert Hoover...

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President Harding Domestically, the President did several things: As stated earlier, Mellon sought to lower taxes for the rich, did away with the  inheritance tax, but in the process he did NOT lower the rates for taxpayers  earning less than $66,000!!!Mellon also sought to balance the budget and reduce  the national debt… He did raise the tariff with the Fordney-McCumber Tariff Law form the 27% of the  Underwood Tariff of 1913 to about 38.5%  With both the tax reductions and the raising of the tariff, Mellon and Harding ran  into opposition from Western Republicans and southern Democrats, who  combined to form the farm bloc.  But Harding and later Coolidge were undeterred…Thus they used their powers to  convert regulatory bodies like the ICC and the Federal Reserve Board into pro-
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Unformatted text preview: business agencies. Herbert Hoover dominated the Administration as the Secretary of Commerce…. .by creating informal governmental ties between government and industry and associated state- Hoover hoped to promote the public interest. His goal……was to achieve through voluntary cooperation what the progressive era reformers sought through regulatory government. Foreign Policy After the Great War…isolationist but internationalist economically…. . The USA, Britain, and Japan were in a naval race….So Secretary of State Charles Evans Hughes called a conference in Washington in November 1921 and by February 1922 they had some agreements…. ....
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President Harding - business agencies Herbert Hoover...

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