liberty Bonds
result of a law passed by Congress that allowed gov to petition the people to help pay was.
liberty bonds were sold to businesses in
selective service act
There weren't enough men volunteering to deploy an army after the US declared war on Germany on April 6, 1917
Why was it controversial?
Why did congress feel the selective congress act was necessary in 1917?
Espionage act 1917
used by wilson admin to silence WW1 critics.
sedition act 1918
used by wilson admin to silence WW1 critics. imposed harsh penalties to make 'false' statements that interfered with the prosecution of the war
Eugene V Debbs: union leader, founding member of industrial workers
arrested for his involvement opposition to war
What is the significance of a law being upheld by the supreme court?
schneck v US
Charles Schenck of the socialist party opposed USE participation during WW1 . He was arrested for violating the espionage act after chasing 15000 leaflets urging resistance to the draft
in the supreme court, they decided free speech can be limited under certain circumstances
First Red scare
first red scare was a period of time were the US gov hated radical, communist(influenced by Karl Marx), and anarchist
palmer raids- attorney general Richard palmer arrested 'suspected communist n anarchist
sacco and vanzeti -italian immigrants convicted of murder weak evidence they were jsut killed for being 'communist'
welfare (social) capitalism
the policy adopted by companies in the 1920s of offering benefits such as profit sharing and pension plans in an effort to make unions less appealing
scopes ttrial (monkey)
Clarence Darrow and William Jennings Bryan squared off in this famous Tennessee trial about teaching evolution in public schools.
harlem renaissance
in 1918 the grea migration led to the african american settlement in Harlem brough art, changing the demographic of the mostly white community.
warren g harding 39th president
1865, us senator voted for his good looks
calvin coolidge former republican 1923
(modern day conservatism)
- cut taxes on the wealthy
- vetoed bills to give farmers gov relief
- he didnt want government to interfere with agricultural markets
herbert hoover; philanthropist 1928
recruited by wilson. harding and coolidge asked him to organize economy as a secretary of commerce.
an economic disaster spent sm
teapot dome "return to mormalcy"- harding
isolationism
After WW1:
- america becomes isolationist
- economic recession
- become laissez faire(hands-off businesses, reduce tax, get off rukles n regulation stopping econ growth)
- incereased eeficiency in production
plagued by teapot dome scandal
in hardings cabinet member illegally traded gov land to oil companies in exchange for bribes
herb hoover and hooverville
caused great depression hoover dam and hooverville homes for the homeless
hawley smoot tariff 1930
passed by house n senate
h ford and hoover begging to veto bill
1929 great depression hits and want protecction from foreign
Protecctionism us rather have a us worer making sth for them rather than buying from another country bc spending american money in other countries isnt going to help stimulate us economy
hawley n smoot believed if US raised tariffs on imported goods then thAT would give american farmers and merchants a better shot at having competetive prices o namerican goods
This bills is passed and tariffs raised the foreign countries get mad and raise their tariffs as well as retaliation and raises taxes sparking great depression
roosevelt runs on the platform to lower tariffs
public works admin 1933-39
new deal by roosevelt after hoovers presidency created various groups to reverse unemployment and retosre prosperity. Pwa aimed to lift off finacial struggles of people deeply affected by the great depression. it built highways and public building to reduce unemployment. ended because Roosevelt wanted to fund the war economy as WW2 \was approaching
emergency banking relief act 1933
implented as a response to the banking crisis during the great depression aiming to stabalize economy
the former known commonly as the Glass-Steagall Act, signed into law by FDR. The 1933 act separated commercial banking from investment banking, established the FDIC, and created the FOMC at the Federal Reserve; the act of 1935 reorganized the FOMC to transfer power from the New York Fed to the Federal Reserve Board in Washington, D.C.
1936-39 2nd new deal
election 1936
demo=fdr *winner
rep=alfred landon
wagner act 1935
protected right of workders to join unions andbargaing collectively
NLR national labor relations: hear testimony about unfair practices and to hold elections to find out if works wanted union representation
fair labor standards acts
work hrs= 44 hrs a week
min wage=25 cents/hr
John Maynard Keynes: The economists was a British economist who had a huge impact on national and international economic policy.
neoliberism
increase gov spending and decrease tax
keynesiam= interest rates fall
believe treaty of versailles 1919 punished germany too severly
lead to collapse of weimler and rise of nazi
neoclassical econ
- free markets
- gov involvement should be limited
- balanced national budgets
Keynesian ecopn
- gov can borrow money and go into debt
- fund infrastructure projects
- spend money during econ downturn= counter-cyclical basis
potential influence w roosevelt and new deal aka help groups