Chapter 897 - 668: The End of an Era
"Losing the Philippines and Central America, leading to an economic crisis in which tens of thousands of Americans starve to death, millions of Americans go bankrupt, and hundreds of billions of dollars vanish instantaneously—why do we still tolerate such a person continuing to sit in the President’s position?"
On January 17th, 1927, during a period of global calm, a large number of newspapers within the United States suddenly began to report on the "contributions" of President Coolidge since his inauguration, and collectively denounced President Coolidge as a criminal of America, ranking him as the worst among the three Presidents in American history.
The current United States had completely diverged from the historical trajectory, with President Coolidge, who historically garnered a good reputation, now being cursed by all Americans, and his era being rated as the worst since the founding of America.
Although President Coolidge announced his withdrawal from the next presidential election in a timely manner, the anger of the American people was not so easily appeased.
On January 18th, the United States Congress officially initiated impeachment proceedings against President Coolidge, with the reason being the harm his wrong decisions had caused to America since taking power.
Subsequent investigations revealed that the Democratic Party had initiated this negotiation. The cause was the dissatisfaction of the Democratic Party with the Republican Party, to which President Coolidge belonged, because of his weakness in handling the assassination attempt on Roosevelt.
The Republican Party was helpless against the Democratic Party’s moves, after all, the discontent of the American people was real, and it was not something that could be changed by merely faking data.
However, the Republican Party obviously had a better candidate. Minister of Commerce, Herbert Clark Hoover, due to his extensive financial support for American refugees and common people during World War I, held significant favor with the American people, making him extremely popular in America.
Compared to President Coolidge, whose reputation had turned sour, Hoover was the candidate that the Republican Party preferred.
So the question arose, how can Hoover become the new President?
There were still more than two years until the next presidential election, and clearly there was not enough time.
Not to mention nearly two and a half years, even six months would be unbearable for the American people, as the damage of the economic crisis in six months was immense, potentially leading to even more deaths and causing greater losses to the American economy.
After all, the policies of the Coolidge Administration towards the economy were generally laissez-faire, which also explained why America had no response after the outbreak of the stock market crisis. @@novelbin@@
The American people were not angry about the major losses in the economic crisis, but rather that the American Government had almost no action during the economic crisis.
Like the United Kingdom and European nations, although their losses in the economic crisis were also severe, at least the governments of the European nations were taking action.
Especially Britain, although the renown for shifting the crisis didn’t sound good, it at least effectively improved the living conditions of some British, lessening the impact of the economic crisis to a certain degree. Continue your journey on NovelBin.Côm
Now look at the United States, what did President Coolidge do during the economic crisis?
Not only did the United States fail to formulate related market rescue policies, but it also let the stock market and economy run its course, leading to the bankruptcy of tens of thousands of enterprises and banks, causing the American economy to plunge into collapse.
The most straightforward aspect is that before the outbreak of the economic crisis, the per capita annual income of the American people had neared 700 dollars.
But after the outbreak, the per capita annual income of the American people plummeted to less than 200 dollars.
At present, the tens of millions of unemployed Americans need large amounts of grain assistance every day, leading to continuous deaths in places where government aid cannot reach.
World War I did not result in significant casualties for America; on the contrary, this economic crisis had already caused hundreds of thousands of deaths, another reason for the anger of the American people.
On January 23rd, 1927, the review of the charges against President Coolidge convened in the United States Congress.
More than half of the representatives agreed upon the charges against President Coolidge, which implied that this individual, who once ascended to the presidency as the Vice President, was also going to bid farewell to his political stage.
On January 24th, 1927, the United States Congress removed President Coolidge from office according to the law, and Vice President Charles Gates Dawes automatically succeeded Coolidge to become the new President of America.
However, it is worth mentioning that this new President, who historically made a significant name for himself by proposing the Dawes Plan, had not held any public office before becoming the Vice President.
What’s more important is that he was not a member of either of the two major parties, the Democratic Party or the Republican Party, making the new President Charles’s position somewhat awkward.
This individual, who had risen from a wealthy businessman to Vice President, and finally became President by virtue of the law, after much contemplation, made a bold decision—to voluntarily give up the position of President.
Of course, Hoover had already been appointed as Vice President before President Charles gave up his position.
This popular Republican talent was the new President that the Republican Party wanted to promote, and President Charles undoubtedly understood this as well.
Although President Charles was also a wealthy businessman, his stature clearly could not compete with the Republican and Democratic Parties, nor against the huge consortiums backing the two major parties.
Instead of battling the two major parties beyond his means, he chose to bow out gracefully, creating a favorable reputation for himself and also currying favor with the two parties.
President Charles’s resignation led to multiple presidential turnovers in the United States in a short period, but the American people held confidence in this succession.
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