US AP TERMS 1920s
US AP TERMS: 1920’s
Fordney- McCumber Tariff- Created in 1922 raised American tariffs in order to protect factories and farms. Congress displayed a pro-business attitude in passing the tariff and in promoting foreign trade through providing huge loans to Europe, which in turn bought more American goods. This was a result of WWI, because the government wanted to ensure economic self-sufficiency so that no future enemy could manipulate the American economy. Also, many industries wanted to preserve the benefits of the increased wartime demand.
Teapot Dome- An oil reserve scandal that began during the administration of President Harding. In 1921, by executive order of the President, control of naval oil reserves at Teapot Dome, Wyoming, and at Elk Hills, CA, was transferred from the Navy Dept. to the Dept. of the Interior. The oil reserves had been set aside for the navy by President Wilson. In 1922, Albert B. Fall, U.S. Secretary of the Interior leased, without competitive bidding, the Teapot Dome and Elk Hills fields to Harry F. Sinclair, an oil operator and Edward L. Doheny. It was found in 1921 that Doheny had lent Fall 100,000 dollars interest free. Fall was indicted for conspiracy and accepting bribes.
Alfred E. Smith- Smith was the democratic nominee in the 1928 election, who ran against Herbert Hoover. He was the four-time governor of New York, known for his friendly personality. He did not get elected because he was a native to New York, Catholic, and a descendant of Irish grandparents. He was also a founder of the American Liberty league, a group of influential finical and industrial leaders who allied with conservative Democrats to appose many of the New Deal programs.
Welfare Capitalism-A paternalistic system of labor relations emphasizing management responsibility for employee well-being. Companies provided incentives to build better relationships with employees; such as health insurance, safety standards, purchasing stock, and
Fordney- McCumber Tariff- Created in 1922 raised American tariffs in order to protect factories and farms. Congress displayed a pro-business attitude in passing the tariff and in promoting foreign trade through providing huge loans to Europe, which in turn bought more American goods. This was a result of WWI, because the government wanted to ensure economic self-sufficiency so that no future enemy could manipulate the American economy. Also, many industries wanted to preserve the benefits of the increased wartime demand.
Teapot Dome- An oil reserve scandal that began during the administration of President Harding. In 1921, by executive order of the President, control of naval oil reserves at Teapot Dome, Wyoming, and at Elk Hills, CA, was transferred from the Navy Dept. to the Dept. of the Interior. The oil reserves had been set aside for the navy by President Wilson. In 1922, Albert B. Fall, U.S. Secretary of the Interior leased, without competitive bidding, the Teapot Dome and Elk Hills fields to Harry F. Sinclair, an oil operator and Edward L. Doheny. It was found in 1921 that Doheny had lent Fall 100,000 dollars interest free. Fall was indicted for conspiracy and accepting bribes.
Alfred E. Smith- Smith was the democratic nominee in the 1928 election, who ran against Herbert Hoover. He was the four-time governor of New York, known for his friendly personality. He did not get elected because he was a native to New York, Catholic, and a descendant of Irish grandparents. He was also a founder of the American Liberty league, a group of influential finical and industrial leaders who allied with conservative Democrats to appose many of the New Deal programs.
Welfare Capitalism-A paternalistic system of labor relations emphasizing management responsibility for employee well-being. Companies provided incentives to build better relationships with employees; such as health insurance, safety standards, purchasing stock, and