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CHAPTER THIRTY FIVE: AMERICAN LIFE IN THE ROARING - page 6 / 20

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Harding Died of heart attack – 1923

replaced by Coolidgepreserved status quo

supported business

Farm Problems

machines= more land=more crops= overproduction

machines & land=debt

Election of 1924

John Davis – conservative Democrat

Robert LaFollette – Progressive

Calvin Coolidge – Republican ** “prosperity”

“the man who builds a factory builds a temple”

Foreign Policy

refusal to adhere to World Court decisions

withdrawal & interference in Latin America

private loans to Europe

debt triangleGermany owed Allies, Allies owed USA

           Dawes PlanUSA loans money to Germany to pay Allies so they can pay USA

Election of 1928

Herbert Hoover – Republican**prosperity & prohibition

self-reliance BUT okayed labor unions & gov. regulation of radio

landslide win

Al Smith“wet”, urban, Catholic

Hoover’s initial Policies

                Agricultural Marketing Actlent $ to farmers organizations

                 Federal Farm Board

               Hawley Smoot Tariff60% - highest in history

Depression

Black TuesdayOctober 29, 1929 – stocks crashed

            causes:overproduction

over-expansion of credit

Dust Bowlregion in Great Plains, severe 3 year drought

Hoover’s reaction:convinced self-reliance would cure depression

believed gov. intervention would weaken America

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