APUSH 1920s Politics and the Start of the Great Depression

Overview

• Focus on the politics of the 1920s and the beginning of the Great Depression.
• 1920s politics characterized by the opposite of the Progressive Era.
• Republican presidents dominate the period.

Politics of the 1920s

• Presidency and Policy

  • 1920: Warren G. Harding elected, promises a "return to normalcy."
  • Presidents: Harding, Calvin Coolidge, Herbert Hoover – all Republicans and generally conservative.
  • Emphasis on pro-business policies:
    • High tariffs, cut on corporate and wealthy taxes.
    • Lack of enforcement on Progressive Era antitrust laws.
    • Trickle-down economics favored.

• Tariff Wars

  • U.S. high tariffs lead to European tariff increases.
  • Global trade slows due to tariff wars.

• Scandals and Corruption

  • Harding administration marred by scandals; most infamous is the Teapot Dome scandal.
  • Secretary of the Interior Albert Fall involved in bribery for oil land leases.

Calvin Coolidge and Herbert Hoover

• Calvin Coolidge ("Silent Cal")

  • Continued pro-business policies.
  • Signed the National Quota Act of 1924.
  • Famous for his "the business of America is business" quote.

• Herbert Hoover

  • Elected in 1928, known for his role during WWI with the U.S. Food Administration.
  • Ran against Democrat Alfred Smith who faced prejudice due to his religion and stance against Prohibition.

Economic and Social Climate

• Roaring Twenties' Unequal Prosperity

  • Not all benefited; farmers and unions struggled.
  • Union membership declined due to anti-union sentiment.
  • Companies favored open shops, implemented welfare capitalism.

• Troubles for Farmers

  • Post-WWI decreased demand for crops.
  • Advances in technology led to overproduction and debt for farmers.

International Affairs

• Isolationism Myth

  • U.S. not entirely isolationist; engaged in global affairs where beneficial.
  • Washington Naval Arms Conference aimed to reduce naval arms and spending.
  • Kellogg-Briand Pact (1928) aimed to outlaw war but lacked enforcement.

• International Finance and the Dawes Plan

  • U.S. became a creditor nation post-WWI.
  • Dawes Plan (1924): Aimed to help Germany manage reparation payments.

The Great Depression

• Stock Market Crash

  • Black Tuesday (October 29, 1929): Stock prices plummet, marking the start of the Great Depression.
  • Massive unemployment and bank failures.
  • Causes include overproduction, uneven wealth distribution, and over-reliance on credit.

• Hoover's Response

  • Initially opposed government intervention.
  • Passed the Hawley-Smoot Tariff (1930) worsening global trade situation.
  • Reconstruction Finance Corporation (1932) aimed to stabilize businesses.

• The Bonus Army

  • Veterans marched to demand bonuses early.
  • Hoover's forceful eviction of veterans tarnished his reputation.

Conclusion

• Hoover faced growing pressures leading to the 1932 election against Franklin Roosevelt.
• The period marked by significant transitions that set the stage for future developments in U.S. history.