The Economics of the USA 1900-1929 Flashcards
What political denomination were each of the USA’s presidents throughout the 1920s?
Laissez - Faire Republicans.
How is the word meaning “hands free” spelt, in French? This is less of an exercise in translation than of grammar, but the meaning’s relevant too : )
Laissez-Faire.
Who were the USAs’ three presidents during the 1920s?
Warren Harding, 1921-1923.
Calvin Coolage, 1923-1929.
Herbert Hoover, 1929-33.
Which pledge did Harding use to achieve presidency in 1921?
That he would return the USA “back to normalcy.”
Which American president dies suddenly in 1923?
Harding.
What was the economic trend during Cooling’s time in government?
Unprecedented growth.
Which American icon was Hoover symbolic of?
The American Dream.
Which American President officially introduced the idea of Laissez Faire government?
Coolige.
What was Laissez Faire government intended to encourage?
“Rugged individualism.”
How did America alter its economic policies following 1919?
They moved to policies of isolationism, and protectionism.
Did Republican governments support the implementation of Tariffs?
Absolutely.
What were the two main actions taken to intervene in the economy by Republican governments in the 1920s?
The Fortney-McCumber Tariff (1922), and a heavy reduction in income taxes.
What were the consequences of the Fortney-McCumber Tariff of 1922?
The act rose import duties to their highest ever rates.
How many shares were traded in 1926, 1927, and 1929?
451 million, 577 million, and 1.1 billion.
How many Americans were involved in the stock market in the late 1920s?
Around 25 million.
