Republicans in Power 1921-9

Question 1

When did Harding become President?

Answer 1

1921

Question 2

When did Coolidge take over?

Answer 2

After Harding’s death in 1923, re-elected in 1924

Question 3

When did Hoover become President?

Answer 3

1929

Question 4

What were the three scandals in Harding’s presidency and their associated people?

Answer 4

Harry Daugherty - accused of taking bribes from bootleggers
Albert Fall - Teapot Dome Scandal (symbol of 1920s corruption)
Charles Forbes - $250million embezzlement
Although Harding was not directly involved he had awareness of corruption, inquiries began before his death)

Question 5

What was the ‘Coolidge prosperity’

Answer 5

50% increase in the economy between 1920-1924

Question 6

Why were the Republicans forced to intervene in agriculture?

Answer 6

Value of farm products fell drastically:
1919- farm products worth $10billion
1921 - farm products work $4billion
Price of corn fell from $1.52/bushel to $0.52/bushel

Question 7

Which three measures were passed to aid agriculture?

Answer 7

1921 Grain Futures Trading Act
1922 Copper-Valsted Act
1923 Intermediate Credit Act

Question 8

What and when was the Grain Future Trading Act?

Answer 8

1921 - attempts to prevent ‘manipulation of the grain market’

Question 9

What and when was the Copper-Valsted Act?

Answer 9

1922 - enabled farmers to form and work in co-operatives

Question 10

What an when was the Intermediate Credit Act

Answer 10

1923 - enabled easier loans for farmers

Question 11

Which agricultural measure did Coolidge veto?

Answer 11

The 1924 McNary-Haugen Bill, which would have sold corn and wheat abroad - seen as too far a departure from laissez-faire policy

Question 12

When were the three tax cuts?

Answer 12

1921, 1924, 1925
1925 returned taxes to a maximum of 25%, the pre-war level
(Mellon)

Question 13

Despite the tax cuts, what happened?

Answer 13

Government income increased due to the prosperity

Question 14

What did the 1921 Budget and Accounting Act do?

Answer 14

Reduced the cost and improved the efficiency of government

Question 15

What and when were the tariff acts?

Answer 15

1921 Emergency Tariff Act - tariffs on agriculture

1922 Fordney-McCumber Tariff Act - added industrial products

Question 16

What was the Emergency Tariff Act?

Answer 16

1921 - tariffs on agricultural products

Question 17

What was the Fordney-McCumber Tariff Act?

Answer 17

1922 - added tariffs on industrial products

Question 18

Why were tariffs introduced?

Answer 18

Worry about competition from the re-emerging European markets (restarted after WW1)

Question 19

What were the effects of tariffs?

Answer 19

Harder to sell US products abroad, higher prices for consumers, ‘tit-for-tat’ tariffs, agricultural prices did not go up (worst effect on agriculture)
However the effect may be exaggerated - the tariffs were lower the the 1909 tariffs

Question 20

How did the government stop supporting trades unionism?

Answer 20

1921- used government troops against strikers

1921 - Supreme Court overturned reforms improving working conditions

Question 21

What did trades union membership decrease by?

Answer 21

1920 - 12%

1929 - 8%