1. The Harding Presidency

2. 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.

3. 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

4. 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.

5. 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.

6. 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

7. 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)

8. 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.

9. 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.

10. Impact of the Automobile
1927 Ford Model T

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

12. · Henry Ford used assembly lines to produce cars.

13. · The efficiency of the assembly line helped to decrease car prices.
Ex.) Model-T $ $ $290

14. 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

15. * 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