Us Presidents Role In The Economy 1920-1945 Flashcards
(10 cards)
What party was most powerful during the 1920s?
The republicans monopolised the Whitehouse during the 1920s.
What was the republicans party’s agenda?
To reduce gov activity and spending - believed in a reduced federal role in the economy.
Presidents and the years during the 20s
Harding 1921-23
Coolidge 1923-28
Hoover 1928 - 1933
Successes of Harding in regards to the economy
1921 budget and accounting act - required government departments to present budgets for presidential approval. This shows some intervention when it came to acts. This reduced the expenditure in 1922 and therefore taxes could be reduced.
He died in office so he didn’t achieve too much
What was Coolidge’s beliefs?
Laissez-faire presidency. He encouraged businesses to operate at their will without government interference.
What did Coolidge achieve?
Not much. Due to his beliefs in the reduction of government intervention, there was fewer regulation. Organisations like the federal trade commission could not operate effectively.
What did hoover promise/was enthusiastic about?
He was hugely optimistic about the economy. In his inaugural speech, he insisted poverty would be defeated in the USA.
When was the wall street crash?
1929
What were the factors that were catalysts to the Great Depression?
-the stock market crash of 1929
- florida Land Boom
- Lack of intervention in banks, banks would lend loans with money they didn’t have - no regulation
- overproduction - businesses sold products that were out of demand for example, cars.
What is republic conservatism
Many republicans held conservative views and disliked any intervention in the economy during this time. They also believed that if businesses grew more wealthy and more people were employed, they believed that this would percolate to the lower classes as well.
