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Chapter 22 Section 3

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How was business helped by the regulatory agencies?
The FTC urged industries to agree on trade policies. Some of these agreements tended to create monopolies. Secretary Hoover promoted fair practice agreements so that industries could share information on products and markets.
Charles Bryan
Chosen Vice Presidential democratic candidate in the election of 1924.
What were some unusual features of the campaign and the election of the 1924?
Coolidge finally won the election. The democrat party was deeply divided and mirrored the split in the nation. Farmers were troubled by the new growing cities. A huge battle between McAdoo and Al Smith for President but then John Davis was chosen.
Progressive Party
Problems in the Republican party led to a this new party headed by La Follette of Wisconsin.
Effect of 1920s policies
With the help of the supreme court, the help of Hoover and the regulatory agencies, companies merged to create larger units. By 1929, only 1289 firms produced 3/4 of all goods produced. The country prospered; the stockmarket was growing rapidly. The economy looked good.
How was business helped by the Supreme Court?
In 1920, the Court ruled that US Steel was not a monopoly even though the company controlled 40% of the steel industry.
Nellie T. Ross
elected governor of Wyoming
How was business helped by Coolidge attitude toward business?
Coolidge believed in free enterprise and minimum government rules. He believed that regulation would make business less profitable. He felt that it profitable businesses made the nation prosperous.
What was Coolidge's response?
The bill passed but Coolidge vetoed because he felt that farmers had never been profitable and the government should not get involved.
Charles G. Dawes
A banker who had served as Director of the budget was named Vice President.
William G. McAdoo
Woodrow Wilson son-in-law; had served as Secretary of the Treasury. Candidate favored by the rural south and west.
John W. Davis
Conservative NY corporate lawyer.
Calvin Coolidge Character
He was the opposite of Harding; he was reticent, plain and thrifty. A man of few words. He agreed with Harding and Jefferson that less government is better.
Albert Smith 19928 candidate
Roman Catholic who called for the repeal of the Prohibition and the return of liquor controls to the states. He said that his devotion to the church meant also devotion to the Constitution and the principle of separation of church and state. His nomination trigerred prejudice and fear.
Why were farmers in trouble in the 1920s?
Farmers were getting poorer; the more they produced, the less they got paid. At the same time, their clothes, their farm implements, their fuel, and the costs of other products they bought were going up. Their taxes were raising.
Herbert Hoover 1928 candidate
Stood for big business, for small town and rural America and for Protestantism and Prohibition. He was popular due to his humanitarian record in the war and his policies in the Department of Commerce.
Al Smith
Opposed to Prohibition and a devout Roman Catholic.
How did Congress propose to help farmers?
The idea was to keep up the price of staple crops regardless of what happened to other prices. The government would buy the surplus crops. They would then hold the produce until the market improved or would sell the produce abroad. The bill failed to pass.
Miriam Ferguson
elected governor of Texas
Who ran for president in 1928?
Herbert Hoover (the Secretary of Commerce) for the republicans and Alfred Smith (the Governor of NY) for the democrats.

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