What policies did the Republican Party follow in the 1920s to encourage economic and social stability?

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The 1920s marked the end of Progressive presidents, as Harding, Coolidge, and Hoover (all Republicans) sought what Harding called a return to "normalcy" after World War I. To this end, the government was largely pro-business and took a laissez-faire attitude toward regulating business and the stock market, which in part led to the stock market crash of October 1929. Harding lowered taxes and instituted the process of having the president submit a budget for congressional approval, in an effort to lower federal spending and the federal debt after World War I. He also favored high tariffs to protect American industry.

Coolidge and Hoover also believed that the scope of the federal government should be limited in nature; they did little to police Wall Street, leading to practices that in part caused the Great Depression. When Hoover tried to deal with the Great...

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