the 'roaring twenties': the age of irresponsibility? Flashcards
What were the four Republican policies?
- Laissez-faire
- Protective tariffs
- Low taxation
- Powerful trusts
Explain the republican policy of laissez-faire
- Republicans believed that government should interfere as little as possible in the everyday lives of people. This attitude is called laissez-faire.
- Republicans felt that the government should leave businessmen alone to do their jobs. That was where prosperity came from.
- This was closely related to ‘rugged individualism’, which reflected an admiration of the way Americans were strong and got on with solving their own problems.
Explain the republican policy of protective tariffs
- Republicans believed in import tariffs, which made it expensive to sell foreign goods in the country. For example, in 1922 Harding introduced the Fordney-McCumber tariff, which made imported food expensive in the USA.
- These tariffs protected businesses against foreign competition and allowed US companies to grow even more rapidly.
Explain the republican policy of low taxation
- Republicans kept taxes as low as possible. This brought benefits to ordinary working people, but even greater benefits to the very wealthy.
- Republicans felt that if people kept their own money, they would spend it on US goods and rich people would reinvest their money in industries.
Explain the republican policy of powerful trusts
- Trusts were huge corporations that dominated industry. Woodrow Wilson and the Democrats had fought against trusts because they believed it was unhealthy for millionaires such as Andrew Carnegie (steel) and John D. Rockefeller (oil) to have almost complete control of one vital sector of industry.
- Republicans allowed the trusts to do what they wanted, believing that these ‘captains of industry’ knew better than politicians did what was good for US business.
Explain how WWI contributed to the economic boom
- USA did not join the war until 1917, but from the start of the European war in 1914, US industries made money supplying weapons and equipment to Britain, France and their allies
- US banks made a fortune by loaning money to these countries
- USA benefitted further because the war damaged trade, industry and exports of the main fighting nations
- For example, Germany had a leading chemical industry before the war, but by 1918 USA had far overtaken it in the production of chemicals
when was the Sheppard-Towner Act?
1921
what did the Sheppard-Towner Act do?
provided federal funding of up to $2.6 million to help status improve maternity and health care
when was the suffragist movement?
throughout the 1900s
when did women gain the right to vote?
1920
what is suffrage?
the right to vote, so suffragists are campaigners for the right to vote
how many women were in paid employment in 1929?
10 million, 24 per cent more than in 1920
when was prohibition introduced?
1920
what was prohibition?
the ban on the sale of alcohol
when did prohibition end?
1933