Coolidge Is Elected President (Great Events from History: North American Series)
Article abstract: A business-friendly administration triggers the Roaring Twenties.
Summary of Event
Calvin Coolidge’s famous statement, “The chief business of the American people is business,” and Warren Harding’s “Less government in business, more business in government,” captured the spirit of the United States after World War I. A nation weary of Woodrow Wilson’s idealistic crusade to “make the world safe for democracy” and of Progressive attempts to regulate business and individual life elected three consecutive Republican administrations in the 1920’s and continued Republican dominance of the Oval Office for all but sixteen years of the period 1860 to 1932. During the decade of the 1920’s, the United States reached unparalleled levels of prosperity and sustained a decade without a war.
Technological changes, including the automobile, radio, and widespread use of electrical energy, gave U.S. industry the capability to produce goods and provide employment at unprecedented levels. More than technology accounted for the Roaring Twenties, however: Secretary of the Treasury Andrew W. Mellon created dramatic tax cuts that unleashed the United States’ productivity, paid off one-third of the national debt, and resulted in federal budget surpluses for most years in the decade. During the 1920’s, unemployment levels dropped to the unequaled level of 1 percent, while confidence in...
(The entire section is 1676 words.)
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