Question

new heights, guaranteeing u.s. manufacturers in one field after another a monopoly of the domestic market, but blocking a healthy trade with europe that would have reinvigorated the international economy. occurring at the beginning of the great depression, hawley - smoot triggered retaliation from other manufacturing nations and contributed greatly to a collapsing cycle of world trade that intensified world economic misery.

1. what two american tariffs stood as barriers to trade with europe?

the federal government also started a program of tax cuts, reflecting treasury secretary andrew mellons belief that high taxes on individual incomes and corporations discouraged investment in new industrial enterprises. congress, in laws passed between 1921 and 1929, responded favorably to his proposals.

1. why did the united states cut taxes for individuals and corporations during the 1920s?

\the chief business of the american people is business,\ declared calvin coolidge, the vermont - born vice president who succeeded to the presidency in 1923 after hardings death, and was elected in his own right in 1924. coolidge hewed to the conservative economic policies of the republican party, but he was a much abler administrator than the hapless harding, whose administration was mired in charges of corruption in the months before his death.

1. who became president of the united states in 1923, following the death of warren g. harding?

throughout the 1920s, private business received substantial encouragement, including construction loans, profitable mail - carrying contracts, and other indirect subsidies. the transportation act of 1920 (also known as the esch - cummins act), for example, had already restored to private management the nations railways, which had been under government control during the war. the merchant marine, which had been owned and largely operated by the government, was sold to private operators.

1. what two important trade and transportation organizations were privatized during the 1920s?

Explanation:

1. The text references the Hawley-Smoot tariff as a trade barrier with Europe, and this is paired with the earlier Fordney-McCumber Tariff (a key 1920s U.S. protective tariff) that also restricted trade with Europe.
2. The text states Treasury Secretary Andrew Mellon believed high taxes on individuals and corporations discouraged investment in new industrial enterprises, so the U.S. cut taxes to encourage this investment.
3. The text explicitly notes Calvin Coolidge, the vice president, succeeded to the presidency in 1923 after Harding's death.
4. The text identifies the nation's railways (returned to private management via the 1920 Transportation Act) and the Merchant Marine (sold to private operators) as the two privatized organizations.

Answer:

1. The Fordney-McCumber Tariff and the Hawley-Smoot Tariff
2. To encourage investment in new industrial enterprises, as high taxes were believed to discourage this type of investment.
3. Calvin Coolidge
4. The nation's railways and the Merchant Marine