The races were sponsored, with the blessings of the Army and Navy, by Ralph Pulitzer, well-known American journalist.
Events were open to all comers and to all nations and therefore were not restricted to service-sponsored entries. Nevertheless, one of the few requirements imposed limited landing speeds to not more than 75 m.p.h.
This virtually ruled out foreign contenders inasmuch as foreign racing plane designers for the most part did not follow the same safety concepts as American designers. Few of their craft had landing speeds that low.
Although the races were not restricted to service-sponsored craft, they quickly became virtually an Army-Navy affair. Another cause of this situation was the fact that private enterprise could not afford the tremendous expense incidental to developing experimental racing designs.
The Navy decided to have airplanes built specifically for these races
With the gradual development of laboratory facilities for research, testing, and development, and with a growing accumulation of scientific data, the advantages realized from the design, construction, and flying of service racing airplanes did not justify the expense, risks, and uncertainties involved. Consequently the Government refused to finance further the development of special racing types. So ended one of the more colorful chapters in the history of the development of American aviation.
Lieutenant Russell Maughan, Air Service, United States Army, flying a Curtiss R-6 set Fédération Aéronautique Internationale (FAI) World Records for Speed during the race 205.31 miles per hour
Lt Maughan had been a fighter pilot during World War I. He shot down four enemy airplanes with his Spad S.XIII C.I, and was awarded the Distinguished Service Cross for bravery in action. He flew in several air races and set records.
He went on to fly the Dawn-to-Dusk transcontinental flight in a Curtiss PW-8, 23 June 1924.
In World War II he commanded the 51st Troop Carrier Wing during Operation Torch, the invasion of North Africa.
The Pulitzer was awarded from 1920-1925 https://mcfarlandbooks.com/product/the-pulitzer-air-races
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