Asked by Marcus Robinson on Jun 03, 2024
Verified
As secretary of the treasury, Andrew Mellon encouraged Congress to
A) spend on public works projects.
B) run the deficit in times of economic crisis.
C) tax the rich.
D) maintain high tariffs to protect domestic manufacturers.
Andrew Mellon
Andrew Mellon was an American banker, businessman, industrialist, philanthropist, art collector, and politician who served as the U.S. Secretary of the Treasury from 1921 to 1932.
Treasury
A government department responsible for managing the monetary resources, including revenue and expenditure, of a country or state.
Tariffs
Taxes imposed on imported goods, often used to protect domestic industries from foreign competition or to generate revenue.
- Recognize the changes in the economy and consumer behaviors in the 1920s, as well as the beginning of consumer culture.
Verified Answer
SP
Shreya PrasadJun 07, 2024
Final Answer :
D
Explanation :
Andrew Mellon, as Secretary of the Treasury, was known for his support of policies that favored high tariffs to protect domestic manufacturers from foreign competition. This was part of his broader economic philosophy that also included reducing government spending and cutting taxes, particularly for the wealthy and businesses, to stimulate economic growth.
Learning Objectives
- Recognize the changes in the economy and consumer behaviors in the 1920s, as well as the beginning of consumer culture.