The Roaring Twenties Mr. Doherty / Mrs. T.

Warren G. Harding “Back to Normalcy” A return to life as it had been before the war.

1920 Election

The Ohio Gang  Group of Harding’s friends who became cabinet members & used their power as ways to enrich themselves.  Became notorious for many scandals.

Teapot Dome Scandal  Two oil executives bribed Secretary of Interior, Albert Fall, who leased Gov’t land in California and Teapot Dome, Wyoming.  Albert Fall was sent to prison.

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1923 Harding Dies of Heart Attack

Recession  Recession is an economic slump Lower Income Less Consum ption Decline in Producti on / Employ ment

New Inventions

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Economic Growth  Much of the economic growth of the 1920s was created by sales of new goods.

Installment Buying  Buying items on credit.  Pay back the amount you owe plus interest.  “Buy now pay later”

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Bull Market  1920’s, more people are investing in stocks than ever before.  Some people became rich almost overnight.  Bull Market – A period of increased stock trading and rising stock prices.

Kellogg-Briand Pact  Disarmament – Reduction of armed forces and weapons of war.  U.S. and 61 other nations signed the Kellogg-Briand Pact that outlawed war.  Did not set up any means to keep the peace  Treaty failed