1. Warren G. Harding & Calvin Coolidge
Politics of the 1920s
Warren G. Harding & Calvin Coolidge

2. Warren G. Harding Promised a “return to normalcy”
Small town roots from OH
Middle class appeal
Successful newspaper entrepreneur
Easy to talk to – like a neighbor
Ran a front porch campaign

3. Warren G. Harding Very popular because he “didn’t do anything”
Let the country heal economically and emotionally
Died two years into his term
August 2, 1923
Public mourning
He was a very popular president at that time

4. Warren G. Harding - Economics
RECOVERY!!!
Business minded president
Created the quickest economic recovery in history
Three goals to prosperity:
Balance Budget
Reduce Government Debt
Cut Taxes
Wealthy 73% down to 25%
Average 4% down to .5%

5. Warren G. Harding - Economics
Supply-Side Economics Lower Taxes People Spend More Money More Goods Will Be Produced More Jobs Will Be Created More People Pay Taxes
Also Known As
Trickle Down Economics

6. Warren G. Harding - Scandals
He appointed friends from OH to his cabinet
The Ohio Gang
Poker playing atmosphere in the WH
Most scandals not discovered until after his death
Therefore he remained popular
Harding was NOT personally a part of these scandals

7. Warren G. Harding – Scandals
Teapot Dome
US Secretary of the Interior
Secretly leased government lands to businesses
Lands contained oil fields reserved for US Navy
Gained $300,000.00

8. Warren G. Harding - Scandals
2. Forbes Scandal
US Head of Veterans Bureau
Sold medical supplies from Veteran Hospitals
Gained $250,000,000.00
3. Daugherty Scandal
US Attorney General
Accepted bribes from German businessman
Helped German buy back chemical company captured during WWI

9. Warren G. Harding – Scandals

10. Calvin Coolidge Known as Silent Cal Cleans up scandals
People joked he was silent in five languages
Cleans up scandals
Fires the “Ohio Gang”
Maintains Supply-Side Economics
Interferes very little with businesses
Runs for President in 1924
Keep Cool With Coolidge
Landslide victory for republicans
Roaring Twenties Continue!

11. Does it appear to be working?
1920s Economic Reform
Does it appear to be working?

12. Does it appear to be working?
1920s Economic Reform
Does it appear to be working?

13. Does it appear to be working?
1920s Economic Reform
Does it appear to be working?

14. Trade and Arms Control Allies owe the US $10 billion
We want that back
The US became the SUPER POWER of the world
Due to economic improvements
Americans began to favor isolationism
US should stay out of world affairs
That is not possible – but we do want peace…

15. Trade and Arms Control The Washington Conference (page 366)
President Harding
World leaders met in Washington, D.C.
Signed three separate treaties
Four-Power / Five-Power / Nine-Power
Respect foreign territories
Use negotiations to work through disagreements
Halt production of warships
Did not limit land forces
Japan upset about being forced to downsize navy

16. Trade and Arms Control Economic Problems in Europe
Germany struggled to pay $33 billion in reparations
Their economy is crippled
Money worthless (HYPERINFLATION)
They just printed, and printed, and printed money.
By November 1923, the American dollar was worth 4,210,500,000,000 German marks
England and France struggled to pay off war debts
50,000,000 Mark

17. TRADING NATIONS ARE PEACEFUL NATIONS
Trade and Arms Control
THE DAWES PLAN US
3. Allies pay back US with money from Germany
1. US loans Germany money to pay reparations
US needs strong nations with which to trade
TRADING NATIONS ARE PEACEFUL NATIONS
England & France
Germany
2. Germany pays back allies on agreed upon lower rate

18. Trade and Arms Control WAR IS DECLARED ILLEGAL!!!! Kellogg-Briand Pact
Calvin Coolidge
US and 14 nations sign an agreement
WAR IS DECLARED ILLEGAL!!!!
All arguments shall be settled peacefully
Obviously NOT enforceable…
but hailed as a victory for PEACE