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Laissez Faire Economics "Leave to do" Economics. Strategy Embraced by most predepression presidents. Adjusted Compensation Act Gave veterans a sum of money after 20 years. Fordney-McCumber Tarrif Law of 1922 Made tax on imports about 40%. Led to many European Countries not being able to pay their war debts to America. Teapot Dome Scandal Secretary of Navy transferred naval oil reserves to the department of the interior after being bribed $400,000 by Sinclair and Doheny. Farm Bloc A committee which was successful in passing helpful pro-farmer laws. Capper Volstead Act Exempt farmers from antitrust laws to raise the price of goods. McNary-Haugen Bill Authorized government to buy food surpluses from farmers and sell them abroad. Vetoed by Coolidge Dawes Plan A plan created by the US to help Germany and the Allies pay off their debts.