The Republican Party During the 1920’s
The Republican Party had flourished in the political spotlight during the 1920’s with several president stringing together a republican Era during the Jazz Age. Woodrow Wilson
The Republican politics of the 1920s sprung from the rejection of Woodrow Wilson, the only Democrat elected to the presidency between 1892 and 1932. Wilson had never governed with the support of a majority of voters, winning office in 1912 only because two Republicans (popular ex-President Teddy Roosevelt and incumbent William Howard Taft) split the vote by running against each other, then barely retaining the presidency with less than half the popular vote in 1916. Despite his dubious mandate, Wilson pursued aggressive reforms at home and abroad, culminating in the virtual nationalization of the economy during World War I and the ambitious internationalism of the League of Nations after the armistice. Warren G. Harding
By the war's end, however, the American people supported neither Wilson's international commitments nor his domestic interventions into the economy and society. In 1920, they elected to the presidency, by a landslide, Republican Senator Warren G. Harding of Ohio. Harding, who might best be described as an affable simpleton, campaigned on the simple promise of a "return to normalcy." Normalcy, under the Harding administration, meant a government that was pro-business, anti-tax, and anti-regulation. Harding's Treasury Secretary, financier Andrew Mellon, cut income tax rates for the wealthiest Americans from 73% to 25%. The capital thus liberated fuelled the skyrocketing stock market and helped the Jay Gatsby’s of the world to achieve an unprecedented level of material affluence, but it also exacerbated the maldistribution of wealth between rich and poor—by 1929, the richest one-tenth of one per cent of Americans owned as much wealth as the bottom 42%9—and may have created an unsustainable...