The Roaring 20s

1. The Roaring 20s Conservatism, Affluence and Cultural Frivolity

2. First Modern Decade • Social, economic and political change • Culture reflected urban, industrial and consumer-oriented society • Consumption/leisure replaced self-denial and work ethic • Conflicts included: • Immigration restrictions • Prohibition • Race Relations

3. Warren G. Harding – 1920 Election victory ‘Return to Normalcy’: pre-war isolationism Puts end to two decades of progressive reform obscure and undistinguished Pragmatic (practical approach) vs. Intellectual Brought best minds of the day into his cabinet Politics: ‘The Republican Era”

4. Harding Presidency • Riddled by Corruption • Attorney General and others in the Justice Department found influence peddling • Interior Secretary Albert Fall leases government oil reserves at Elk Falls, Cal. and Teapot Dome, Wyoming to oilmen in return for $400,000 in bribes • Teapot Dome becomes symbol of Harding administration • Suffered stroke while on speaking tour in 1923 • 1962 Historians Poll – ranked last of 31 presidents

5. Calvin Coolidge Won 1924 election as incumbent Favored reduced government spending & low taxes “The Business of America is Business” Refuses aid to farmers who are in need His failure to act on economic matters helped bring on Great Depression “Keep Cool with Coolidge”

6. Herbert Hoover (R) For prohibition Former Sec. of Commerce ‘Architect of the current economic prosperity’ Seen by some as too progressive Al Smith (D) Against prohibition 1st Catholic candidate to run for president “Rum and Romanism” Poor family start to become Gov. of New York 1928: The Prohibition Election

8. Hoover’s Volunteerism • Rugged Individualism • Voluntary self-regulation by business ensures economic growth • Generally associated with Stock Market Crash and Great Depression