Both Presidents' Coolidge and Harding set policies to allow the return of big business by returning debt and installing low taxes on businesses . " Harding signed a bill raising protective tariff rates by about 25%." (Werner, 219) Harding made it easier for Americans to sell goods from their home. They could have an at home business and make more of a profit off their products. Coolidge also reduced national debt by trimming budget and lowering taxes. This created a boom of the economy with profits and the stock market. There was a beginning of a new era in life. These presidents standards for big business allowed its return in a more successful way.
Policies:
Laissez- faire policy formed an economy filled with paradoxes and inequality.Laissez- Faire is french ( means " leave it alone" or " leave it be"). It's the belief that markets always know best and gov. should not regulate or interfere in self - correcting operations. This policy was successful, cutting the tax rate from 73% to 25%. This policy helped big business return to the economy. Stock market benefited tremendously from the policy. It also helped get the U.S out of national debt, not only improving the economy, but completely changing it positively. With the Laissez Faire, the economy thrived, though it had some social conflicts. Kellogg Briand Pact: After World War 1, nationally nations, especially America, didn't want anymore war. The thought of peace throughout the world was paradise the the government and people so greatly desired. The Kellogg Briand Pact was made and signed on August 27, 1928, by 15 nations worldwide. The pacts terms consisted that war would be outlawed and rejected. The nations that signed this pact were France, the United States, New Zealand, South Africa, India, Belgium, Poland, Germany, Italy, Japan and many more. The objective of the pact was for the nations to settle disputes peacefully, without resulting to war, and violence. Though people didn't believe that the pact would last, it raised national hope for countries. |
Cited Work:
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