THE STATE, THE ECONOMY, & BUSINESS

1. THE STATE, THE ECONOMY, & BUSINESS Using the summary of the 1920s economy…. Objective… Create generalizations based on the economic statistics of the 1920s.

2. THE STATE, THE ECONOMY & BUSINESS Objective… Summarize how the administrations of Harding and Coolidge shape the domestic and foreign policy of the 1920s. Republicans in Power

3. The Election of 1920

4. The Election of 1920 • Rep: Warren Harding - Ohio • Dem: James Cox - Ohio HardingCox - Electoral Vote: 404 127 - Popular Vote: 16 m 9 m - Percentage: 60 % 34% • 1920 census indicates more people are living in urban areas • 1920 is the first presidential election in which women participate • Only 35% of women voted in 1920

5. The Election of 1920 • The reason Harding wins… • “A good natured man who looked like a president ought look” • No active campaigning… A campaign would expose his shallowness and intellectual weakness. • Overwhelmed by the job… • “I am not fit for this office and should never have been here.”…Harding • “ I knew the job would be too much for me.”

6. Political Overview of the 1920s • The Executive Branch is dominated by 3 Republicans… * ______________ * ______________ * ______________ • Republicans control Congress during the 1920s

7. Warren G. Harding • Republican • Ohio • VP Coolidge • Died in office on Aug 2, 1923 • 1921-1923 President & Mrs. Harding

8. THE STATE, THE ECONOMY, AND BUSINESS Objective… Examine the moral and political corruption associated with the Harding Administration.

9. Warren G. HardingPersonal Conduct • A gambler… • A hypocrite... “I cannot hope to be one of the great presidents, but perhaps I may be remembered as one of the best loved” … WGH • Visited burlesque houses in Washington D.C. • 1905-20: An affair with Carrie Phillips… • 1919: An affair with Nan Britton…

10. Nan Britton • Affair 1917-23 …30 yrs younger • 1919 daughter of WGH born • Child support delivered by Secret Service • Sued the Harding estate • Book: The President’s Daughter (1927) Nan & Elizabeth Ann Britton

11. Carrie Philips • Affair 1905-20…10 yrs younger • 1917 -blackmail on WWI vote • 1920 -RNC bribes Philips with $20K & a slow trip to Japan • CP lives until the 1960s

12. Warren G. HardingThe Scandals “I have no trouble with my enemies… But… my Gdmn friends…, they’re the ones that keep me walking the floor nights” …WGH

13. Warren G. Harding “The Ohio Gang”… 17) The Harding scandals (4)… • Justice Department Scandal • - Attorney General Daugherty WGH’s worst appointment • - Friend & advisor of WGH • - Profited from “selling influence” Veterans' Bureau Scandal - Charles Forbes - Head of Veterans’ Bureau - Stole $200M. - Fled to Europe… 1925- Returned, indicted & convicted - Charles Cramer –VB Attorney, commits suicide

14. 17) The Harding scandals (4)… Alien Property Custodian Scandal - Thomas Miller APC - Managed property in the U.S. belonging to enemy citizens Teapot Dome Scandal - Sec. of Interior Albert Fall illegally leased oil rich land for a $300K bribe. - Fall goes to prison

15. A. Justice Dept. B. Teapot DomeC. Alien Property D. Veterans Bureau1. Thomas Miller 3. H. Daugherty2. Albert Fall 4. Charles ForbesI. Stealing from veterans hospitalsII. Selling influence in the Justice Dept.III. Selling oil leasesIV. Selling seized government property. Answer Key: A-3-II B-2-III C-1-IV D-4-I

16. The connection to content?... Meaning? ... Symbolism?? Juggernaut – An unstoppable force, or object that crushes whatever is in its path.

17. Objective… Describe how the Harding & Coolidge Administrations shape the economy of the 1920s.

18. * Secretary of Treasury Andrew Mellon 18) What policies prevailed under his leadership? • Run government like a business • Reduce the federal budget • Cut all types of taxes • Free up capital for business investment

19. * Herbert Hoover Sec. of Commerce under Harding & Coolidge • 20) The experiences & principles of Herbert Hoover… • - The “associative state”… • What policies prevailed under his leadership? • America would prosper most with a voluntary cooperation between business, government, and workers • Encouraged trade associations • BIG BUSINESS • Corporations gained power & wealth… 1929 200 corps hold 50% of corporate wealth • Maximum freedom for private enterprise

20. * 21) Financially. how did America emerge from the war? • The strongest nation in the world • We made large profits from selling war supplies & suffered no damage from the war. • We are owed $10 billion in war debt • NY replaces London as the financial capital of the world 22) What was the Dawes Plan and how successful was it? • 1920s - War debt is crushing the European economies… Both Germany (33B) & the Allies (11.5 B) • US cancels some of the debt • The Dawes Plan restructured the war debt… lower interest rate longer time

21. Secretary of State Charles Evans Hughes 23) What policies prevailed under his leadership? * • Policies that would expand American business growth & investment overseas • Sell American goods overseas • Maximum freedom for private enterprise

22. Objective… Summarize how President Harding shaped U.S. domestic policy in the 1920s. *

23. Warren G. HardingDomestic Policy • “America First” policy… • Fordney-McCumber Tariff (1922)… • Immigration Act (1921)… • Revenue Act (1921)… • Civil Liberties...

24. Objective… Summarize how President Harding shaped U.S. foreign policy in the 1920s. *

25. Warren G. HardingForeign Policy – “Isolationism” “We seek no part in directing the destiny of the world” WGH • Washington Conference (1921)… • Treaty with Germany (1921)… • Allied war debt… • The League of Nations… • The actions taken supporting “Isolationism”…

26. How is an ostrich similar to US foreign policy in the 1920s?

27. Isolationism

28. Harding’s Death • 1923: Died of a heart attack in San Francisco, CA • Mrs. Harding refused an autopsy • Rumors circulate...

29. The Election of 1924

30. Calvin Coolidge“Silent Cal” “You don’t have to explain something you never said”…Coolidge President & First Lady Coolidge • Personal Conduct… • Conscientious, honest & impeccable manners • Did not object to Prohibition

32. Objective… Summarize how President Coolidge shaped U.S. domestic policy in the 1920s. *

33. Calvin Coolidge“The business of America is business” • Pro business…Supported limited government & cutting spending • No interest in world leadership • Over speculation was rampant in the stock market • Accomplished very little

34. Calvin CoolidgeDomestic Policy • Immigration Act of 1924… • Tax cuts… • The impact of tax cuts... • “Trickle-Down Economics”… • Veterans benefits… • Civil Rights Laws...

35. Objective… Summarize how President Coolidge shaped U.S. foreign policy in the 1920s. *

36. Calvin CoolidgeForeign Policy • Isolationism… • Kellogg-Briand Pact… • 22) Dawes Plan… • Relations with the Soviet Union…

37. A) Fordney- McCumber Tariff D) IsolationismB) Washington Conference E) Dawes Plan C) Kellogg-Briand Pact 1) An international disarmlament agreement 2) Raised taxes on U.S. imports 3) An agreement among nations that renounced war. 4) A plan that restructured German war debt and allowed them to maintain paying back their war debts. 5) The U.S. foreign policy of the 1920s

38. * Discussion… Which Americans economically gained the most, and which were left out during the post war prosperity? …Why?

39. Review Harding & Coolidge… * What were the key policies and goals (domestic & foreign) articulated by the Republican political leaders of the 1920s?