Ch 7 2 2 Coolidge Prosperity Coolidge Prosperity
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Ch. 7 -2 -2 Coolidge Prosperity
Coolidge Prosperity • Coolidge became President after his father swore him in with a family Bible • Silent Cal, quiet, honest, and frugal • Trusted business • Not going to help others make a quick buck
Silent Cal Supports Big Business • Believed the creation of wealth helped all • Reduced national debt, trimmed federal budget, and lowered taxes • Gave incentives to businesses • U. S. saw industrial growth, profits, rising stocks, and prosperity
Troubles Brew Beneath the Surface • Farmers struggled to keep their land • Labor unions demanded higher wages and better working conditions • African Americans faced discrimination – Jim Crow Laws • Mexican Americans faced low wages and deportation • Silent Cal remained “silent”
America’s Role in the World • Played a huge role in world business and trade • U. S. policy was shaped by WWI – Deadliest conflict to that point
Seeking an End to War • 1921 -1922 diplomats met to limit size of navies – Washington Naval Disarmament Conference • Kellogg-Briand Pact of 1928 – Secretary of State Frank B. Kellogg and French Foreign Minister Aristide Briand – Outlaw war as a “national policy” – 62 nations ratified the pact – No enforceable – Pg. 221
Collecting War Debts • U. S. wanted the debt from Britain and France from WWI to be repaid – They had to wait for Germany to pay • 1924 Dawes Plan – Loans to Germany – 1929 “Crash” = Germany no pay – Britain and France stopped paying • Britain and France thought U. S. was heartless – For requiring immediate payment, not thinking about human cost