Conservative Republican Presidents 1920–1932
Historical Context: Businesses had a good run in the 20s and consumers bought products wildly, often on credit or with an installment plan. Three Republican presidents were pro-business. The economy and consumers got to running too fast, and coupled with over-buying in the stock market, initiated the Stock Crash and Great Depression.
POLITICS of the 1920’s
A turning away from the governmental activism of the Progressive Era
Three Republican presidents—Warren Harding, Calvin Coolidge, and Herbert Hoover— steered the nation on the roller-coaster ride of the 1920s, a thrilling ascent from the depths of post– World War I recession to breathtaking heights of prosperity, followed by a terrifying crash into the Great Depression. In a retreat from progressive reform, Republicans sought to serve the public good less by direct government action and more through cooperation with big business. Some corrupt officials served themselves as well, exploiting public resources for personal profit. Meanwhile, the United States retreated from its brief internationalist fling during World War I and resumed with a vengeance its traditional foreign policy of military unpreparedness and political isolationism
Political philosophies
| Radical |
Conservative |
Reactionary |
Liberal |
| (Socialist/ Communist in this era) --refers to advocating drastic revolutionary changes in society and in the gov’t. |
refers to preserving the existing order; conserving rather than changing (often means pro-business) |
desire to move society backwards into a past society, usually idealized.
(Mugwumps; some Progressives wanting to return to WASP ideals) |
advocating changes in society’s institutions to reflect changing conditions. Progressive movement |
These terms refer to means as well as ends; one can pursue radical goals by conservative means, e.g., socialists running for political office in a democratic
political system (Eugene Debs)
POLITICS of the 1920’s Why a turning away from the governmental activism of the Progressive Era?
• People looked for “return to normalcy” after sacrifices and hardships of World War I.
• Economy grew rapidly from 1920–1929.
• Republicans won three elections with conservative views.
• Supported interests of big business through tax cuts for corporations and the wealthy and through high tariffs; believed government should not intervene in the economy
• Believed in limited role in foreign affairs and international efforts to prevent war
• Believed government should NOT act to protect or assist individuals
• Stock market crash of 1929 and Great Depression that followed eventually forced
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Harding (1921-1923)
Election Map 1920
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Coolidge (1923-1929)
Election Map 1924
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Hoover (1929-1933)
Election Map 1928
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• Appointed friends to
government posts; some
were corrupt
• Repealed wartime taxes
on corporate profits and
reduced taxes for wealthy
• Approved high tariffs to
protect U.S. businesses
• Approved immigration
quotas to limit European
immigrants
• Agreed to arms limits for
United States and Europe
• Continued Open Door
policy toward China to
insure access to trade
• Died in office 1923
|
Took over after Harding’s
death and then elected in 1924
• First cleaned up corruption
scandals
• Continued Roosevelt’s Big
Stick policy in Latin America
• Resisted government help to
farmers; reduced taxes for
wealthy
• Supported high tariffs; allowed
business mergers
• Corporate profits grew for
many, but some industries
and farmers suffered
• Supported treaty to prevent
international war
• Did not run for reelection
|
Wanted business to follow
government lead on economy
voluntarily
• 1929 stock market crash
wiped out economic gains;
first believed it a short term
crisis that could be solved
by private business
• Tried to help farmers and
manufacturers by raising
tariffs, but the move hurt the
economy
• Later, approved programs to
back loans for businesses,
banks, and individuals
• Resisted calls to help people
directly with payments• Easily defeated in 1932
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A Review of Presidential Scandals
Election of 1924
Results – Coolidge with 382 to Davis with 136 to La Follette’s 13
Republicans also gained control in the House and the Senate
Election of 1928 Outside Reading - The Election of 1928
Coolidge decided not to run – he retired in 1929 and died in 1933
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Republicans
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Democrats
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Herbert Hoover advocated the continuation of prosperity, prohibition, a protective Tariff
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Al Smith – Catholic
Advocated relief for farmers, collective bargaining, abolition of
Injunctions in strikes and strict regulation of utilities
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Campaign – Republicans – ran on our prosperity “a chicken in every pot, a car in every garage” Hoover – was a Quaker – a prohibitionist with rural roots
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Smith – a Catholic Urbanite who favored the repeal of the 18th Amendment
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Hoover will win – 444 to 87 Republicans won in the House
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