Chapter 33 Flashcards
1920 election
Warren G. Harding-republican-wins
Return to the capitalism and republicanism of the McKinley era
Andrew Mellons side economics
Balance the budget
Reduce gov’t debt
Cut taxes
Budget and Accounting Act of 1921
Executive budget
General accounting office for congress
Bureau of the Budget
Fordney-McCumber Tarriff of 1922
Raised tariffs about 38%
May be cause of GD
Bureau of Budget
Assist the president with annual fund and gov’t budget
Designed to prevent unnecessary spending
Charles R. Forbes
Head of Veteran’s Bureau
Sold medical supplies from veteran’s hospitals and kept the money for himself
Teapot Dome Scandal
Albert B. Fall - Secr. Of interior
Secretly allowed private interests to lease land containing U.S. Navy oil reserves
Went to jail
Result of Harding capitalism and republicanism
Corporations could expand again
Anti-trust laws ignored
Harding’s Ohio Gang
Political cronies from Ohio Scandal Attn. Gen. Harry Daugherty Int. Sec. Albert B. Hall Charles R. Forbes (veteran's Bureau) Navy Sec. Edwin C. Denby Jesse Smith
Coolidge Administration
Contrasted roaring twenties
Business leadership->prosperity
Laizzez Faire: mess with business as little as possible; let it be
Capper-Volstead Act
Gave certain farmer associations exemptions from anti-trust laws
Harding admin.
Magna Carta of Cooporation
McNary-Haugen Bill
Silent Cal admin.
Purpose to keep agricultural prices high
Authorized gov’t to buy up farm surplus and sell them abroad
Silent Cal vetoed twice
Solider’s Bonus Act of 1924 (WW Adjusted Compensation Act)
Vetoed by Harding and SC
20 year insurance endowment for every soldier
Revenue Act of 1926
Silent Cal admin.
Reduced personal income and inheritance taxes
Repealed publicity clause
-public access to income tax returns
Alfred E. Smith
Ran as dem. 1928
Catholic, anti-anti-liquor, immigrant background
