1. Chapter 12 Section 2 Notes The Harding Presidency
Warren G. Harding (Republican) won the presidency in 1920
Promised Americans a return to “normalcy”
The simpler days before the Progressive Era and WWI
The Washington Naval Conference
Agreed to not build warships for 10 years
United States, Great Britain, Japan, France, Italy agree to scrap many of their largest warships
Germany and Russia not invited
Kellogg-Briand Pact
15 major powers agree to renounce war as a national policy
Problem: no way to enforce it

2. Chapter 12 Section 2 Notes The Harding Presidency
High Tariffs and Reparations
Britain and France needed to repay their debt to the US
2 options:
Selling goods to the United States
Collecting reparations from Germany
Fordney-McCumber Tariff: raised taxes on imports to 60%
Made it impossible for Britain and France to sell enough goods
The 2 countries looked to Germany (which had no $)
Dawes Plan: the US loaned Germany money which it paid to Britain and France which paid it to the US (what?)

3. Chapter 12 Section 2 Notes The Harding Presidency
Scandal Plagues Harding
Harding’s administration began to unravel as his corrupt friends use their offices to become wealthy through graft
Charles Forbes (Head of the Veterans Bureau) was caught selling government and hospital supplies to private companies
The Teapot Dome Scandal
The government had set aside oil-rich lands at Teapot Dome, Wyoming for use by the Navy
Secretary of the Interior Albert Fall managed to get the land transferred to the Interior Department
Fall secretly leased the land to 2 private oil companies
He received more than $400,000