1. Republican Prosperity

2. 1920s Presidents Warren G. Harding Calvin Coolidge Herbert Hoover

3. In Their Words . . .
“America’s present need is not heroics, but healing; not nostrums, but normalcy; not revolution, but restoration; not agitation, but adjustment not submergence in internationality, but sustainment in triumphant nationality.”
Warren G. Harding

4. In Their Words . . .
“The chief business of the American people is business.”
Calvin Coolidge

5. In Their Words . . .
“A chicken in every pot and a car in every garage.”
Herbert Hoover

6. A Return to Normalcy Coined by President Harding
Reflected the desire to return to the simpler days before the Progressive Era and WWI
Promised quiet prosperity, smaller government, and a focus on domestic business

7. Republican Formula Policy of laissez-faire Lower government spending
Lower taxes
Higher tariffs
Subsidies and loans to encourage business growth
Decrease in national debt

10. Prosperity Grows

12. Foreign Policy Washington Naval Conferences (1921)
USA, Great Britain, Japan, France, Italy
disarmament treaty signed
limited construction of new naval warships and submarines with freeze on construction for 10 years
Kellogg-Briand Pact (1928)
15 signatory countries renounced war as a national policy

13. Foreign Policy Fordney-McCumber Tariff (1922)
Raised taxes on US imports to 60% (highest ever)
Helped US companies thrive
Dawes Plan ( )
American loans to Germany ($2.5 million) to help repay reparations and avoid another war