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The Republicans in Power Chapter 13 Section 2

The Republicans in Power Chapter 13 Section 2. Objectives How did Republican policies encourage economic growth? How did the Harding administration’s pro-business policies affect the US economy? Why did the movement to pass the ERA fail?

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The Republicans in Power Chapter 13 Section 2

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  1. The Republicans in PowerChapter 13 Section 2 Objectives How did Republican policies encourage economic growth? How did the Harding administration’s pro-business policies affect the US economy? Why did the movement to pass the ERA fail? How did the Republican Party overcome the political scandals of the Harding administration? What issues affected the outcome of the 1928 election?

  2. Republican Confidence in 1920 *The Republican party felt they were going to win the 1920 election because: • The democrats were still hung up on the League of Nations • Strikes and unrest put a bad light on the democratic party Warren G. Harding wasn’t considered overly bright but he had broad appeal, was friendly and looked presidential Harding ran under a pro-business platform and promised a return to “normalcy” . He said we need healing and restoration not heroics and revolution *He won in a landslide*

  3. Harding’s Pro-Business Administration “Less government in business and more business in government” • His cabinet included business people like Andrew Mellon as Secretary of the Treasury and Herbert Hoover as Secretary of Commerce His Two Economic Goals • Reduce the national debt • To promote economic growth

  4. Harding’s Economic Decisions • Charles Dawes as head of the Bureau of the Budget slashed government spending and created a surplus • Fordney-McCumber Tariff Act- pushed tariffs on manufactured goods to their all-time highs. High prices and profits • Eliminated high taxes on the wealthy. Mellon felt that the wealth of the rich would trickle down to the lower classes. Result By 1923 the situation seemed rosy- unemployment was low and most economic sectors were booming

  5. The Effects of Republican Policies • The increased wealth increased mergers • By 1930 200 corporations controlled half the nations corporate wealth • From 1923 to 1929 corporate profits increased by 60% and workers income increased by 10% • Some industries like textiles faced pay cuts and unemployment • Farmers had it real rough- shrinking markets, debt, low prices and high interest rates • Unions lost out in the courts and in government. Yellow-dog contracts and the American Plan sought union free shops

  6. New Directions for Women • Women had just won the right to vote with the 19th Amendment but it didn’t seem to change women’s status very much • Working conditions were a divisive issue among women’s rights activists- Feminists • The Equal Rights Amendment (ERA) was not universally supported. Some women, like Mary Anderson- head of the Women’s Bureau, felt that if they were granted the same rights as men they might lose their progressive era rights like working hours and working conditions.

  7. The Harding Scandals The “Ohio Gang”- Harding’s friends enriched themselves because of their connection to the president. • Charles Forbes, director of the Veteran’s Bureau, made millions through corrupt schemes • Attorney General Harry Daugherty was taking bribes • The Big One- The Teapot Dome scandal- Secretary of the Interior Albert Fall had naval oil reserves in the Teapot Dome reserves in Wyoming shifted to his control and Fall then granted private leases to the oil in exchange for cash, cattle and loans. *Harding wasn’t guilty on any of this and he “escaped” humiliation by having a fatal heart attack before most of it became public

  8. Coolidge Takes Charge Vice president Calvin “Silent Cal” Coolidge was a quiet reserved guy who immediately fired anybody involved in scandals to restore the reputation of the presidency Coolidge was even more pro-business than Harding and the booming economy got him elected in 1924 by a comfortable margin. Not everybody was happy because the prosperity was not enjoyed by all

  9. Coolidge’s Pro-Business Position Coolidge said, “The business of America is business.” Pro-business legislation like the Revenue Act of 1926was designed to help the rich and the country: • Repealed the gift tax • Cut estate taxes in half • Reduced taxes on the wealthy Coolidge also cut spending to reduce the national deficit by vetoing spending bills like: • A bonus bill to provide aid to WW1 veterans • McNary-Haugen Bill which would have bought farmer’s surpluses Coolidge chose not to run for re-election- being President was too “burdensome”

  10. The Election of 1928 Republican Herbert Hoover ran against Democratic NY Governor Alfred E. Smith Smith had a lot of urban immigrant support but he had a few factors against him like: • Being Catholic- might listen to the Pope • Opposition to prohibition • Ties to Tammany Hall • His accent which many Americans thought was un American The strong economy helped Hoover win the election with 58% of the vote

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