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Harding & Coolidge Economic & Foreign Policy

Harding & Coolidge Economic & Foreign Policy. Harding Economic Policy. “Less government in business and more business in government” Wanted to cut the federal budget

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Harding & Coolidge Economic & Foreign Policy

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  1. Harding & CoolidgeEconomic & Foreign Policy

  2. Harding Economic Policy “Less government in business and more business in government” Wanted to cut the federal budget Believed in reduced taxes for the wealthy and believed that the wealthy would start businesses and pull America out of hard times.

  3. Harding Economic Policy Laissez Faire Rejected minimum wage Sided with company owners during strikes

  4. From War Goods to Consumer Goods • Coolidge cut regulations on businesses • Americans’ incomes rose • Businesses began to advertise their products

  5. From War Goods to Consumer Goods • People began to buy refrigerators, radios, vacuums, and other appliances

  6. “Coolidge Prosperity” • “The business of America is business. The man who builds a factory builds a temple. The man who works there worships there. • Calvin Coolidge What does President Calvin Coolidge believe American Prosperity rests on?

  7. Buying on Credit • Installment Buying= Buying on Credit (Buy now, pay later) • Demands for goods jumped, but so did Americans’ debt “If we want anything, all we have to do is go and buy it on credit. So that leaves us without any economic problems whatsoever, except that perhaps some day to have to pay for them.” –Comedian Will Rogers

  8. American Foreign Policy in the 1920s • Most Americans (including Harding and Coolidge) wanted to remain “isolationist” HOWEVER: 1. The U.S. still needed to protect economic interests in Mexico 2. The U.S. gave $10 million in aid to Russia during a famine 3. The U.S. still signed the “Kellogg-Briand Pact” with 61 other nations (which outlawed war)

  9. Foreign Policy of Harding • America was deeply into an isolationist posture during the Harding, Coolidge, Hoover and early in the Roosevelt era. The legislation that follows reflects that attitude.

  10. Foreign Policy of Harding The Five Power Treaty 1922: set the ratio of capital ships by the signers of the treaty. The United States, Great Britain and Japan ratio was set at 5.5.3 . Italy and France were set at 1.75-1.75 • done to prevent a naval arms race that ensued after WWI

  11. Foreign Policy Continued • Four Power Treaty: The United States, Britain, France and Japan. Agreed to respect each others rights in the Pacific. • The Nine Power Treaty: The respect China’s independence and territorial integrity and the open door policy.

  12. Foreign Policy Continued • The Kellogg-Briand Pact 1927: • Between the United States and France - renounced war as an instrument of national policy. • America wanted to stay out of European alliance system and stay isolationists

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