Chapter 23 Outline_Questions.pdf - I II A New Economic Order A Booming Business Ailing Agriculture 1 Recession struck in 1920 as Washington canceled

Chapter 23 Outline_Questions.pdf - I II A New Economic...

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I. A New Economic Order A. Booming Business, Ailing Agriculture 1. Recession struck in 1920 as Washington canceled wartime defense contracts and veterans reentered the job market. 2. By 1930, some 60 percent of U.S. families owned cars. a) Ford Motor Company primary supplier until General Motors started to sell more comfortable and different color cars 3. The Fordney-McCumber Tariff in 1922 and the Smoot-Hawley Tariff in 1930 pushed U.S. tariffs to all-time highs a) helped domestic manufacturers but stifling foreign trade B. New Modes of Producing, Managing, and Selling 1. Assembly lines increased production speed and output a) Managers discouraged individual initiative 2. The shift to a consumer economy affected wage policies. Rather than paying the lowest wages possible, business leaders now realized that higher wages increases consumers’ buying power a) Having more money means they would spend more 3. Women in the workplace faced wage discrimination C. Struggling Labor Unions in a Business Age 1. As wartime antiradical sentiments persisted --- opponents of labor unions often associated them with the communist label. 2. The American Federation of Labor officially prohibited racial discrimination, even though most AFL unions in fact barred African-Americans II. Standpat Politics in a Decade of Change A. The Evolving Presidency: Scandals and Public-Relations Manipulation 1. In the election of 1920, Harding defeated his Democratic opponent James M. Cox. After the stresses of war and Wilson’s moralizing, voters instead welcomed Harding’s bland oratory 2. Harding’s cabinet selections were disastrous as there were any scandals that tainted his reputation 3. “Teapot Dome” became a shorthand label for a tangle of scandals B. Republican Policy Making in a Probusiness Era 1. While promoting corporate interests, Coolidge opposed government support for other Americans 2. President Coolidge rejected calls to aid the victims. The government had no duty to protect citizens “against the hazards of the elements,” he declared. Coolidge did
a) However, he sign the Flood Control Act of 1928 funding levee construction along the Mississippi 3. Hard-pressed farmers rallied behind the McNary-Haugen Bill, a price-support plan under which the government would purchase the surplus of six basic farm commodities --- cotton, corn, rice, hogs, tobacco, and wheat C. Independent Internationalism 1. The Harding and Coolidge administrations continued to oppose U.S. membership in the League of Nations. 2. The Republican administrations worked to protect U.S. corporate interests in Latin America 3. Washington Naval Arms Conference -- After the war ended, the United States, Great Britain, and Japan edged toward a dangerous (and costly) naval arms race. a) Led to the outlining a specific ratio of warships among the world’s naval powers 4. In 1928, the United States and France, eventually joined by sixty other nations, signed the Kellogg-Briand Pact renouncing aggression and outlawing war.

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