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American History Chapter 19-3. The Harding & Coolidge Presidencies. Warren G. Harding. Election of 1920 : Rep. Harding v. Dem. James Cox. Both from Ohio. Harding ran on a vision of, “ A return to normalcy .” Harding won easily.
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American History Chapter 19-3 The Harding & Coolidge Presidencies
Warren G. Harding • Election of 1920: Rep. Harding v. Dem. James Cox. • Both from Ohio. • Harding ran on a vision of, “A return to normalcy.” • Harding won easily. • President Harding believed that gov’t. should do very little in terms of regulating business. • Passed the Fordney-McCumber Tariff: • An import tax on foreign grown farm produce. • Caused Americans to buy less foreign crops. • Hampered the efforts of Europeans in paying their war debts.
Government Scandal • Teapot Dome Scandal: Involved the Secretary of the Interior Albert Fall. • Fall accepted bribes from oil companies to allow them to drill wells on federal land in Wyoming. Sentenced to 1 yr. in prison & a $100,000 fine.
Calvin Coolidge • President Harding died Aug. 2, 1923 of a heart attack. • Calvin Coolidge, of MA. became president. • Got rid of corrupt officials. • President Coolidge also favored strong business & a limited government. • Business, he believed, would fuel America’s growth. • Coolidge was elected president in 1924.
Lingering Effects of WWI • Europe was unable to pay war debts. • Germany couldn’t pay reparations – payments for war damages. • The U.S. became a banker to European countries: • Lent Germany $ to pay reparations. • Allowed other European countries to pay debts to the U.S.
Military Concerns • An arms race developed in which countries compete to have the strongest militaries . • Washington Naval Conference: 1921 meeting of the world’s naval powers. • Agreed to scale down their navies. • Agreed to avoid competition for control of China. • U.S. Brigadier General Billy Mitchell: Argued before Congress that the U.S. needed to build up air power.
U.S. Airforce 1920s General Mitchell
Attempt at World Peace • Kellogg-Briand Pact: More than 60 nations agreed to condemn the use of war as a solution to international controversy.