The Harding Presidency

High Tariffs and Reparations Kellogg-Briand Pact – signed by the U.S., along with 60 other nations, this treaty outlawed war. Fordney-McCumber Tariff – raised taxes on U.S. imports to 60 percent - highest level ever. It was used to protect U.S. businesses.

Harding’s Administration (The Ohio Gang) The “Ohio Gang” were President Harding’s friends, whom he appointed to his Cabinet. Charles Forbes, appointed by Harding as the head of the Veteran’s Bureau, stole millions of dollars from the bureau. Thomas W. Miller, Office of Alien Property, caught taking a bribe. “I can take care of my enemies all right, but my friends keep me walking the floors at night.” - President Warren Harding

The Teapot Dome Scandal Rocky Mountain Oilfield Testing Center on the Teapot Dome Naval Petroleum Reserve No. 3 near Midwest, Wyoming. In the early part of the 20th century large oil reserves were discovered in Elk Hills, California and Teapot Dome, Wyoming.

In 1912 President William Taft decided that the government owned the land and its’ oil reserves should be set aside for the use of the United States Navy.

Secretary of the Interior Albert Fall In March of 1921, President Warren Harding appointed Albert Fall as Secretary of the Interior. Secretary of the Interior Albert Fall Pres. Warren Harding

Secretary of the Interior Albert Fall But that’s Naval property! You can’t drill there! Why didn’t you say so, Ed? You’ve got a deal! Secretary of the Interior Albert Fall Yo, Albert buddy! How about letting Edward and I drill for oil in Elk Hills and Teapot Dome! Maybe $100,000 would help you change your mind! Harry Sinclair (Mammoth Oil Corp.) Edward L. Doheny (Pan-American Petroleum)

Later that year Fall decided that two of his friends, Harry F Later that year Fall decided that two of his friends, Harry F. Sinclair (Mammoth Oil Corporation) and Edward L. Doheny (Pan-American Petroleum and Transport Company), should be allowed to lease part of these Naval Reserves. In 1923, Harding died of a heart attack. Vice-President Calvin Coolidge took over.

In 1927, Fall was found guilty of accepting a $100,000 bribe from Doheny. He was forced to resign from office and spent one year in jail. The land was naval property, and should not have been leased to private oil companies.

Impact of the Automobile 1927 Ford Model T

A Booming Economy: The 1920’s Income increases People purchase more goods “Boom Cycle” Companies expand and hirer more people Companies earn higher profits

· Henry Ford used assembly lines to produce cars.

· The efficiency of the assembly line helped to decrease car prices. Ex.) Model-T 1909 - $850 1916 - $360 1924 - $290

Effects of the Car Industry rubber steel oil The following industries grew as a result of the booming car industry: glass construction (roads and bridges) housing (as the suburbs grew) paint

* Employment and standards of living increased. * As World War I ended, technology focused on consumer goods. (Ex) radios, washing machines, telephones, and cars * Increased wages caused an increase in buying power. 1925 RCA Radiola Super VIII