THE ROARING 20S 1920 1929
AMERICAN ECONOMY IN THE 1920S
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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higher taxes on corporations.
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democratic socialism.
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banking regulations.
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free-enterprise system.
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Detailed explanation-1: -The actual quote wasn’t necessarily a simple, catchy line. It wasn’t in a Big Business Speech or an answer to a business related question. It was spoken during an address President Calvin Coolidge gave to the American Society of Newspaper Editors in Washington, D.C. on January 17, 1925.
Detailed explanation-2: -What did President Calvin Coolidge mean when he said that the “business of America is business"? The U.S. government should not control the economy: a return to “pro-business policies, ” low taxes, and no progressive reforms.
Detailed explanation-3: -Throughout his gubernatorial career, Coolidge ran on the record of fiscal conservatism, strong support for women’s suffrage, and a vague opposition to Prohibition. During his presidency, he restored public confidence in the White House after the many scandals of the Harding administration.
Detailed explanation-4: -The strong economy combined with restrained government spending to produce consistent government surpluses, and total federal debt shrank by one quarter during Coolidge’s presidency. Coolidge also signed the Immigration Act of 1924, which greatly restricted immigration into the United States.