Unit 5 - The Harding Presidency

President Warren G. Harding (1921 – 1923) - Republican Promoted a return to “normalcy” Considered one of the least effective presidents

Harding Struggles for Peace Washington Naval Conference Involved the five major naval powers US Great Britain Japan France Italy Agreed to limit the sizes of their navies Limit construction of new warships Scrap some existing ships

Harding Struggles for Peace Fordney-McCumber Tariff Raised taxes on imports to 60% - highest ever Protected American businesses Increased isolationism Made it impossible for France and Britain to repay US war debts

Harding Struggles for Peace Dawes Plan Britain and France needed German reparations to repay US war debts Germany could not pay – France invaded part of Germany American investors loaned money to Germany Germany can pay reparations to France and Britain France and Britain can repay US loans US is being repaid with its own money Anger at US US not paying its fair share US profiting from war and war debts

Charles Dawes Nobel Peace Prize

How does this benefit the United States?

Scandal in Harding’s Administration “I have no trouble with my enemies…But my friends, they’re the ones that keep me walking the floors nights.”

Scandal in Harding’s Administration The Ohio Gang Cabinet consisting of Harding’s Friends Corrupt friends used positions to make money Scandals would cause embarrassment

Scandal in Harding’s Administration Teapot Dome Scandal Oil-rich land set aside for use by US Navy Teapot Dome, Wyoming Elk Hills, California Albert Fall Sec. of Interior Got Land transferred from Navy to Interior Dept. Fall secretly leased the land to two private oil companies Fall received over $400,000 in cash, loans, and bonds Convicted of felony while in Cabinet

Harding’s Death Harding died suddenly on Aug. 2, 1923 Heart Attack Calvin Coolidge (Republican) becomes president