Term
| President Harding - "return to normalcy" |
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Definition
| he had promised return to normalcy by which he meant normal life after the war |
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Term
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secretary of the treasury.
3 main goals:
reduce debt, cut taxes, balance budget |
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| consisted of hardings old poker-playing friends, they drank and smoked with the president, but they used their positions to sell government jobs, pardons and protection from prosecution |
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Definition
congress abolishes the excise and excess profits tax
congress reduces the income tax by 2/3 |
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Definition
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Term
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Definition
| Forbes scandal was only the latest in a series of scandals and accusions that had marked the harding administration, it began when hardings secretary of interior secretly allowed private interests to lease lands containing oil reserves (albert b. fall) |
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Term
| Washington Naval Conference |
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Definition
| the major powers that were involved in a costly postwar naval arms race, to end the weapons race the united states invited 8 major countries to discuss disarment. it proposed 3 major treaties aimed at naval build up competition and trading rights in china |
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Definition
(US, GB, FR, JP)
agree to respect eachothers pacific lands
no provision to enforce |
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Definition
-formally puts open door policy into an official treaty
-no provision to enforce |
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Definition
(US, GB, FR, JP, IT)
agree to freeze navies at 1921 levels
us/gb agree to not build new bases in w. pacific
japan agrees to keep navy inferior
makes no mention of limiting land forces
could still build unlimited smaller combat ships |
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Term
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Definition
Ratified eventually by 64 nations
nations agreed to abandon war as a tool of national policy
countries would settle disputes peacefully |
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Term
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Definition
| Companies offer welfare capitalism as an alternative to unions |
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Term
| Accomplishments in Aviation |
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Definition
Orville and Wilbur Wright
Glenn Curtiss
Charles Lindbergh |
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Term
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Definition
| larger number of people investing in hopes of getting rich |
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Term
| New York Stock Exchanges Terms |
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Definition
| bull market, margin, margin call, speculation |
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Definition
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Term
| Presidental Election of 1928 |
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Definition
| Herbert Hoover & Alfred E. Smith |
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Term
| Causes of Great Depression |
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Definition
Overproduction and Under consumption
-more goods being produced than consumed
Uneven Distribution of Wealth
-workers and farmers income fails
-1/2 of nation at or below poverty
Loss of Export Sales
- other countries not buying us products
-government policies affecting export
Other Government Policies
-mellon tax policies
- actions of federal reserve board |
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Term
| Mistakes By Federal Reserve |
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Definition
before:
low interest rates create easy credit, banks lent to freely, business leaders thought the economy was expanding
After: raised interest rates tightened credit, serious reduction of loans, businesses look for other solutions, lay off workers |
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Term
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Definition
| since homesteading had begun on the great plains farmers plows had uprooted the wild grasses that held the soils moisture then crop prices fell so farmers left their fields uncultivated then a terrible drought struck the great plains then soil turned to dust, this dust buried crops and livestock and many people died from suffocation |
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Definition
| people from oklahoma that moved to california for a better life |
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Definition
John Steinbeck
William Faulkner
Grant wood- american gothic |
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Term
| National Credit Corporation |
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Definition
| the ncc created a pool of money that allowed troubled banks to continue lending money in their communities but failed to meet nations needs |
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Term
| Reconstruction Finance Corporation |
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Definition
| hoover requested congress to setup rfc to make loans to businesses but the rfc was overly cautious and it failed to increase its lending to meet the heed and the economy continued to decline |
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Term
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Definition
| before wwi congress promised a 1000 dollar bonus for each veteran to be distributed in 1945. in may several hundred veterans began marching to washington to lobby for passage of the legislation. many veterans joined and were called the bonus army. when senate voted down the bonus bill, veterans outside capital began to protest. in july hoover ordered the buildings cleared, and sent in the army. the army brought in tanks and teargas and weapons versus the unarmed veterans. hoovers reputation was harmed. |
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