Aim #61: Did the United States need a “return to normalcy” in the 1920s? Do now! Read “Post-World War I Issues” and answer the 3 questions Too much red meat was a bad choice…I die of a heart attack Well, a party guest once said to me “I bet a man I could get more than 3 words out of you” to which I responded…”you lose” Donald Trump take note...great Coolidge quote: “if you don’t say anything, you won’t be called on to repeat it”

In the 1920s, Republican presidents were elected (Harding, Coolidge, Hoover) who helped America “return to normalcy” by using pro-business policies Republicans kept taxes low so Americans could spend their wages Republican presidents kept government interference in business to a minimum to allow private enterprise to flourish

“Return to Normalcy”: Republican Warren G. Harding’s winning slogan in the 1920 presidential election: it refers to the idea that the U.S. should return to the ways before the War (or even before the Progressive Era).

In 1920, Americans elected Republican Warren Harding who promised a “return to normalcy” “America’s present need is not heroics, but healing; not nostrums (medicine), but normalcy; not revolution, but restoration” —President Warren Harding Quick Class Discussion: What would a “return to normalcy” mean for America after World War I?

(I) The Teapot Dome Scandal a. Naval oil reserve in Wyoming b. Interior Secretary Fall illegally sold reserves to private companies c. Fall found guilty of accepting bribes Harding died before scandal became public A political cartoon depicting the scandal as a steamroller

What does this image and quote reveal about America in the 1920s? “The chief business of the American people is business.” —President Calvin Coolidge, 1925

(II) “Normalcy” in Economic Policy a.Return to Gilded Age policies 1. govt. not really laissez-faire, interfered in economy, but they were pro-business b. govt. believed in protectionism (protecting US industries) 1. Govt. enacted high tariffs: this slows down global trade (leads to tariff “wars”) c. Wanted to give businesses tax credits to spur growth Coolidge signing a tax bill, 1926

(II) Mellon’s Economy a.Served as Treasury Secretary under three presidents Who was 1 st Alexander to be treasury secretary? b. Sought to increase revenue and cut spending c. Pushed through substantial tax cuts 1.“trickle down” economics: cut taxes for the wealthy 2. Result of tax cuts: economic inequality (gap widened between rich and poor) (he was the 3 rd richest man in the country…can you name the other 2???) Andrew W. Mellon

Pro-business policies and mass production techniques developed during WWI led to an industrial revolution in consumer goods Industrial growth led to high wages for workers and cheap products for Americans to buy The appetite for consumer goods and availability of cheap credit led to a decade of spending called the Roaring Twenties

1920s: Consumerism

Henry Ford’s mass production techniques made automobiles affordable for many Americans

(III) International Affairs a.reminder: US rejected joining League of Nations, but in the 1920s doesn’t totally withdraw from world affairs 1.Washington Naval Arms Conference (1921): naval disarmament; reduce defense expenditures 2.5 Powers and 9 Powers Treaties: ratios set for size of navies 3.Kellogg Briand Pact: treaty signed in 1928 that outlawed war…problem, can’t enforce it and it allowed for defensive wars b. Dawes Plan (1924): Germany couldn’t pay reparations What problems was Germany having??? 1.Adjusted German reparation payments (American banks would loan money to Germany to help them rebuilt and pay reparations to England and France)

However, U.S. isolationism was selective because the USA did play a role in world affairs The USA loaned European nations billions of dollars to help rebuild after WWI