Postwar Struggles Returning soldiers faced unemployment Took back many jobs away from women and minorities Decrease in demand of goods for farmers and factories Naval Disarmament Led by Charles Evans Hughes Kellogg-Briand Pact Dawes Plan Loaned Germany $2.5 billion to pay debts to France and GB

Election of 1920 Running Mate: Franklin D. Roosevelt James M. Cox (D) Warren G. Harding (R) Running Mate: Franklin D. Roosevelt In favor of the League of Nations Worked in newspaper business “Normalcy” Running Mate: Calvin Coolidge Against League of Nations Open door policy with the press

Election of 1920 Pop Vote: 9,141,535 Electoral Vote: 127 James M. Cox (D) Warren G. Harding (R) Running Mate: Franklin D. Roosevelt In favor of the League of Nations Worked in newspaper business Pop Vote: 9,141,535 Electoral Vote: 127 “Normalcy” Running Mate: Calvin Coolidge Against League of Nations Open door policy with the press Pop Vote: 16,147,885 Electoral Vote: 404

Warren G. Harding (R 1921-1923) Blooming Grove, Ohio Newspaper Publisher Ohio Senator (1900-1904) Lieutenant Governor (1904-1906) Senator (1915-1925) Opposed the 19th Amendment, supported the 18th Amendment Unqualified Died of a heart attack

Scandal Ohio Gang Teapot Dome Scandal Members of Harding’s cabinet Poker buddies Teapot Dome Scandal Oil reserves out West had been set aside for the Navy Albert B. Fall (Secretary of the Interior) Gets the reserves changed over to the Interior Department Sells the reserves to oil companies Fall gets paid $400,000 Becomes 1st cabinet member to be convicted of a felony

Calvin Coolidge (R 1923-1929) Massachusetts Governor (1919-1921) Vice President (1921-1923) Sworn in as POTUS by his father Small Government Conservative Major influence on Ronald Reagan “Silent Cal” Revenue Act of 1924 Lowered top bracket of income tax from 58% - 46% Granted citizenship to all Native-Americans

Prosperity The Roaring 20s Pro Business/Anti government regulation Regulation from FTC and ICC were greatly limited High Tariffs Lower Income Tax Rising Wages

Standard of Living Automobile Electricity Advertising increased Henry Ford Led to the growth of ‘suburbs’ Vacations and visits to the city became more popular 1 automobile for every 5 people Electricity Run machines in factories Refrigerators Washing machine Vacuum cleaner Advertising increased

False Sense of Comfort Andrew Mellon Sec. of the Treasury Policies could have contributed to the Great Depression Avg. wages increased 50% during the 1920s Overproduction Large companies combining Increased the wage gap between workers and managers Farmers struggled New machines drove down prices Buying on credit Low money down, long term payment plans