USA HISTORY

Detailed explanation-1: -Mellon, the chief architect of economic policy between 1921 and 1929, decided to cut government spending, refinance the national debt, and persuade the federal government to lower its interest rate. He employed supply-side economics and urged Congress to dramatically cut taxes.

Detailed explanation-2: -Andrew Mellon, a successful banker and industrialist, was secretary of the treasury under President Harding and the chief architect of economic policy.

Detailed explanation-3: -Alexander Hamilton was a founding father of the United States, who fought in the American Revolutionary War, helped draft the Constitution, and served as the first secretary of the treasury. He was the founder and chief architect of the American financial system.

Detailed explanation-4: -Harding in 1921, and he continued to serve under Presidents Calvin Coolidge and Herbert Hoover. As the Nation embarked on the most materialistic period in its history, Mellon’s philosophy was one of debt reduction, tax reduction, and a balanced budget.

Detailed explanation-5: -In 1921, President Warren Harding appointed Andrew to Secretary of the Treasury to address the national debt, which had reached an all-time high due to the massive cost of World War I. Andrew proposed a controversial tax policy: lower taxes to increase revenue.