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Presidents in the 1920s USA

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Introduction

History GCSE Coursework Assessment objective 1 The USA Warren G Harding was elected president in 1921. One of his first acts was the emergency tariff act of May 1921. This increased the tariff rates on imported farm products. In 1922, Harding signed the Fordney-McCumber tariff, which gave the president the power to raise and lower the tariff rates. The tariff to raise duties on both factory and farm goods, Harding hoped to protect American agriculture and business from what Americans regarded as unfair European competition. Harding however gave important jobs to his friends they were known as the Ohio gang. Several members of the Ohio gang were very dishonest. Charles Fobes, Harding's closest friend was the director of a government department called the Veterans' Bureau. He stole over $200 million of the Bureau's money. President Harding also decided to place strict limitations on immigration, especially from eastern and southern Europe. Calvin Coolidge was elected president in 1923. During Coolidge's presidency, the United States experienced the period of rapid economic growth. Coolidge himself thought the government should interfere as little as possible in the everyday lives of people. His economic policy quoted 'the business of America is business'. For this reason he did little as president. However Coolidge did sack Harding's friends from their government posts. Several of them were put on trial and sent to prison. Coolidge also made a taxation policy that was taxes should be lower and fewer people should have to pay them. ...read more.

Middle

These new industries boomed, owners of these businesses got richer and people's lives became easier as well as the economy was improving. Another cause for the boom was the rise of credit and advertising. People receiving improved wages but they still needed money to buy certain goods. Advertising made people think they needed these products. Advertising came in many forms such as radios, posters, cinema and newspapers. One of the most effective ways of advertising was the ideal home. This made many Americans believes there home was incomplete without certain products; people used credit to buy these products. Credit was when banks and finance houses lent money to people and agreed to pay it back once a week or month but with interest added on top. Credit meant people were buying more and paying more for it, this meant more money was going into the economy. Advertising and credit led to a rise in consumption and more money going into the economy. Another cause for the boom and perhaps one of the important reasons was mass production. Mass production was pioneered by Henry Ford, it made the manufacture of goods cheaper. Henry Ford trained every worker to do a simple task as a vehicle or engine passes on an assembly line, at the end it would be a finished car. The advantage was work was completed very quickly. ...read more.

Conclusion

The price of goods continued to fall. Industrial production was cut. Wages fell and workers were laid off. A 1/4 of the workforce about 13 million were unemployed in 1932. This meant anger turned on the Republicans under president Hoover his tax cuts and support for the banks failed to help the situation. The Republicans didn't believe interfering with business or welfare. Many European countries felt the effects of the depression. Germany, the new Weimar government broke down between 1929-1933. By 1933, conditions were serious in Germany. 6 million people were unemployed, and the country was desperate for a strong government. People saw hope in groups like Hitler's Nazis who promised a strong government and a better life. Italy, the Italian leader Mussolini wanted to take people's mind off the economic problems by increasing the power of Italy abroad. He wanted to create a new Roman Empire. Britain, democracy survived but there were 3 million people unemployed. Extreme groups like Oswald Mosley's 'Blackshirt' fascist party became popular in some areas after 1931. France, the effects of the depression hit France later than most countries, when they could no longer sell luxury goods like wine. There were over 1 million people unemployed, and extreme political groups began to become more important there too. Japan, goods like silk wouldn't sell and Japan's economy was badly affected, so Japan decided to take over other countries. Most industrial countries were affected, banks failed, industries struggled, and trade ground to a halt. The least affected country was the USSR, which had a communist system. ?? ?? ?? ?? Numan Hameed ...read more.

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