Unit 8 (Ch. 23, 24, 25) Flashcards
Warren Harding in office
“Return to Normalcy”
Veteran’s Issues
Washington Naval Conference
Scandals
“Return to Normalcy”
Warren Harding’s motto in 1920 election; Runs as Laissez Faire Conservative (End to Progressivism)
- Means they wont enforce anti-trust laws!
Veteran’s Issues
Adjusted Compensation Act - promises bonuses to Vets in 20 years
Creates Veterans Bureau
Washington Naval Conference
Known as being an isolationist….
Demilitarization Conference - decreased all military sizes across world
- 3:3:1 ratio of Britain:US:Japan in tons of navy metal
Charles Forbes
Harding put him in charge of Veteran’s Bureau - Forbes stole $200 million
Teapot Dome
Oil reserve that was kept from private development - Albert Fall (Harding’s Cabinet Member) was secretly selling this oil
Attorney General (Daugherty)
Gets paid for not prosecuting violators of prohibition
Affairs
Harding had many affairs - one with an actress and had a kid; another with the wife on an Ohio politician
Welfare Capitalism
Calvin Coolidge’s policy where businesses gave benefits to their workers
- good for business; no government help
Economic Nationalism
Raised tariffs on imports 32 times!
Kellog Brian Pact
Condemn militarism - agreed not to fight with other countries
- Known as the “International Kiss”
McNary - Haugen Bill
Provides economic help for farmers –> VETOED BY COOLIDGE
New Deal
Put in place by Roosevelt - Shot for relief (quick), recovery (economy) and reform (prevention)
First One Hundred Days
Passes more than 15 major pieces of legislation in his first 100 days in office
Emergency Banking Act
Closes all banks for one bank for one week to inspect all of them
Emergency Conservation Work Act
200,000 young men go to work because of the Reforestation and Conservation Act
Agriculture Adjustment Act
Gave subsidies to farmers who cut production
- told farmers to cut wheat, kill animals to eliminate surplus and start over
Federal Emergency Relief Act (FERA)
Federal government provides money to states governments for food shelters, etc. Harry Hopkins leads organization
Tennessee Valley Authority
Built a hydroelectric network that supplied electricity to Tennessee Valley area
Homeowners Refinancing Act/ Farm Credit Act
allows homeowners and farmers to refinance their mortgages
Glass-Steagall Banking Act
creates FDIC - bank will insure up to $5000 if bank fails; separates commercial and investment banks; Federal Securities Act - full disclosure of stock info to public
National Industrial Recovery Act
Sets prices and production quotas; minimum wages and maximum hours; competition laws; abolishes child labor; creates Public Works Administration (employed 2.6 million people in 30 days)
Schecter v. US
Shuts down NRA - ruled unconstitutional
Importance of midterm election of 1934
Democrats win big in Congress and so Roosevelt is able to continue to pass legislation
