Ch. 32 Terms Flashcards
Washington Conference
Held in 1921-22, and invitations went out to all the major naval powers except Bolshevik Russia. The double agenda included naval disarmament.
H.S- Secretary Hughes presented them with a comprehensive concrete plan for declaring a ten- year “holiday” on the construction of battleships. Left Japan on the end of a 5:5:3 ratio.
Kellogg-Briand Pact
Frank B. Kellogg signed the pact (Pact of Paris) in 1928 with French foreign minister.
H.S- Defensive wars were still permitted. It accurately and dangerously reflected the American mind in the 1920s which was all too willing to be lulled into a false sense of security.
Fordney-McCumber Tariff
Passed by Congress in 1922 in which schedules were boosted from the average of 27% (under Wilson’s Underwood Tariff of 1913) to the average of 38.5%
H.S- Duties on farm produce were increased and the principle was proclaimed that the general rates were designed to equalize the cost of American and foreign production.
Teapot Dome scandal
An affair that involved priceless naval oil reserves at Teapot Dome (wyoming) and Elk Hills (California)
H.S- Albert B Fall received the valuable properties from the secretary of navy and by Harding permission He received bribes from Sinclair for hundreds of thousands of dollars. Details of the crooked transaction leaked out in 1923
Elks Hill Scandal
TBD
McNary-Haugen Bill
It was pushed energetically from 1924 to 28 as a farm bloc favorite. It sought to keep agriculture prices high by authorizing the government to buy up surpluses and sell them abroad.
H.S- Gov’t losses were to be made up by a special tax on farmers.
Progressive Party
Formed in the 20’s aafter the war which sought to move forward and make progress.
H.S- Their candidate, Robert LaFollette, for the 1924 presidential election turned in a respectable 5 million votes but could not rival Coolidge’s 15 million votes.
Dawes plan
Formulated by Charles Dawes in 1924 which rescheduled German reparations payments and opened the way for further American private loans to Germany.
H.S- The whole financial system became more complicated as U.S bankers loaned money to Germany, Germany paid reparations to France and Britain and the former Allies paid war debts to the U.S
Hoovercrats
The dry (prohibitionists) southern Democrats that arose during the Hoover- Smith election. H.S- These "Hoovercrats" rebelled against Al Smith the "wet" native New Yorker.
Hawley-Smoot Tariff
Passed in 1930 it started out to be fairly reasonable protective measure, designed to assist the farmers.
H.S- By the time lobbyists pushed it through the senate, it had acquired about a thousand amendments and turned out to be the highest protective tariff in the nations peacetime history. The average duty was raised from 38.5% to almost 60%.
Black Tuesday
October 29, 1929 when 16,410,030 shares of stock were sold in a save-who-may-scramble.
H.S- By the end of 1929- 2 months after the initial crash- stockholders lost $40 billion in paper values and heralded a business depression.
Muscle Shoals Bill
It was designed to dam the Tennessee River and ultimately embrace by Franklin Roosevelt’s Tennessee Valley Authority.
H.S- Hoover vetoed this measure because he opposed the gov’t’s selling electricity in competition w/ it’s own citizen in private companies.
RFC
In 1932 Congress est. the RFC with an initial working capital of half a billion $’s it became a gov’t lending bank.
H.S- was designed to provide indirect relief by assisting insurance companies, banks, agricultural organizations, and RR’s.
Bonus Army
The old veterans from the war who demanded compensation for their services when industry had secured a bonus.
H.S- Hoover maintained that this “bonus army” was led by riff raff and reds.
Stimson Doctrine
Was proclaimed in 1932 by Sec. of State Henry L. Stimson and declared that the U.S would not recognize any territorial acquisitions achieved by force.
H.S- This did little to stop the Japs militarists.
