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Republican Resurgence

Republican Resurgence. …of the 1920s. The decade of the 1920’s was controlled by a Republican Congresses The Presidents were generally just rubber stamps for the work of the Congress

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Republican Resurgence

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  1. Republican Resurgence …of the 1920s

  2. The decade of the 1920’s was controlled by a Republican Congresses • The Presidents were generally just rubber stamps for the work of the Congress • They followed a highly pro-business doctrine that hoped that the nation as a whole would prosper with business The Roaring 1920s Politics

  3. Never a strong candidate but party bosses decided he would be a candidate they could control • Ran on a platform of low tariffs & high taxes, farmer’s assistance, opposed to League of Nations • His Presidency was marked by scandal & corruption much like the Gilded Age • Named Andrew Mellon “the richest man in America” as Sec. of Treasury Warren G. Harding

  4. His policies included a reduction of income tax & the Fordney-McCumberTariff (1922) • Mellon believed in supply-side economics & wanted tariffs on industrial goods • This tariff was on industrial goods, mostly farm goods to appease Republicans in the south • The Teapot Dome scandal resulted from the Sec. of the Interior accepting bribes for oil leases • Sec. of Interior Fall created a deal to have oil deposits (Teapot Dome was one in WY) put under jurisdiction of the of the Interior • Fall was able to collect large sums of $$$ once deposits were leased to private investors Warren G. Harding cont.

  5. Harding’s VP (Harding died of stroke) • “Silent Cal” coined the phrase “the business of America is business” • Believed in tax cuts for wealthy & businesses • In the 1924 election the Progressive Party formed around Robert LaFollette of Wisconsin and won 5 million votes mostly from farm and labor • Coolidge won and proceeded to cut spending and do little else Calvin Coolidge

  6. Election of 1928 • Coolidge declines to run again & the Republicans nominate Herbert Hoover • Hoover had ably run the domestic war effort & had a truly upstanding reputation • His Democratic opponent, Al Smith of New York was a Catholic & this created problems for many voters

  7. Hoover continued the laissez faire ideas of Coolidge • The gains the Progressives had made against the power and control of big business quickly subsided • Hoover’s government turned a blind eye to regulation, cut corporate taxes & raised tariffs as a way to aid & abet the growth of business • Increased productivity, new energy technology & of course the assistance of government led to great economic growth Herbert Hoover

  8. Hoover continued the laissez faire ideas of Coolidge • The gains the Progressives had made against the power and control of big business quickly subsided • Hoover’s government turned a blind eye to regulation, cut corporate taxes & raised tariffs as a way to aid & abet the growth of business • Increased productivity, new energy technology & of course the assistance of government led to great economic growth Herbert Hoover

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