Factors behind the boom: Republican policies

Question 1

Between 1921 and 1933, what party did all presidents belong to?

Answer 1

The Republican Party

Question 2

Who was the Republican President between 1921 and 23?

Answer 2

Warren Harding

Question 3

Who was the Republican President between 1923 and 1929?

Answer 3

Calvin Coolidge

Question 4

Who was the Republican President between 1929 and 1933?

Answer 4

Herbert Hoover

Question 5

Who were the 3 Republican presidents between 1921 and 1933?

Answer 5

HCH

Harding
Coolidge
Hoover

Question 6

Why are dates around presidential terms sometimes confusing?

Answer 6

Elections are held in November e.g. Trump was elected in 2016.

However, the winner of the election does not become president until their inauguration in January e.g. Trump became president in 2017.

During the period from the election to the inauguration, the incoming president is called ‘the president-elect’

Question 7

Republicans had a ‘laissez fair’ approach to government. What does this mean?

Answer 7

Literally, ‘let do’ - allow people to get on with things.

Republicans believed government should leave businesses to get on with their job as this created prosperity.

Question 8

What idea is closely linked to the ‘laissez fair’ approach?

Answer 8

Rugged individualism

Question 9

What is meant by ‘rugged individualism’?

Answer 9

The belief that Americans were strong and could succeed on their own without government help

Question 10

What is a tariff?

Answer 10

A tax, usually on either exports or, more commonly, on imports

Question 11

What is an import?

Answer 11

A good coming into a country

Question 12

What’s the point of putting tariffs (taxes) on imports?

Answer 12

It helps protect US industries.

If the import taxes made buying imports more expensive, consumers would be more likely to buy American-made products. This would help grow American businesses.

Question 13

What were ‘protective tariffs’?

Answer 13

Tariffs imposed to try and protect American businesses

Question 14

What example is there of an import tariff?

Answer 14

In 1922 Harding introduced Fordney-McCumber tariff which made imported food expensive in the USA (thus encouraging Americans to buy food grown in America)

Question 15

What did Republicans believe about taxation?

Answer 15

That taxation should be kept as low as possible

Question 16

Why did Republicans believe in low taxation?

Answer 16

1. If people kept more of their own money, they would buy American goods
2. The wealthy industrialists would then reinvest this money

Question 17

Who did low taxation bring benefits to: ordinary people or the wealthy?

Answer 17

Both - but far greater benefits to the wealthy.

Question 18

What did Republicans believe about regulations?

Answer 18

That there should be few regulations so businesses could focus on making money

Question 19

What is an example of a regulation?

Answer 19

Health and safety regulations on a building sight (e.g. must wear a hard hat).

Republicans might argue that a) helmets cost money that could be spent elsewhere b) builders are smart enough to avoid being hit by stuff falling from the building site (NB: this is an exaggerated example)

Question 20

What were trusts?

Answer 20

Trusts were huge super-corporations which dominated industry

Question 21

What two key examples are there of trusts?

Answer 21

Carnegie Steel - run by Andrew Carnegie

Rockefeller Oil - run by John D. Rockefeller

Question 22

Why did Democrats dislike trusts?

Answer 22

They didn’t like having key industries (oil - Rockefeller, steel - Carnegie) being run by a few key individuals

Question 23

What did Republicans believe about trusts?

Answer 23

They allowed trusts to do that they wanted, believing ‘captains of industry’ like Rockefeller and Carnegie knew better than politicians what was good for America