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CP US - Ch. 22 - Sec. 2

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CP US - Ch. 22 - Sec. 2

  1. 1. The Good Old Days- 1920s America  A Return to Normalcy  Rejection of Woodrow Wilson and his international policies  Election of Republican presidents  Return of scandal and corruption  Isolationist policies  High tariffs  Wide-scale prosperity  Prohibition Era  Rise in organized crime (the mob)  Jazz Age
  2. 2. Harding Administration  Republican Warren G. Harding was elected President in 1920  Surrounded himself with the “best minds” (reality was that they were his “cronies” known as the Ohio Gang)  Secretary of State- Charles Evans Hughes  Secretary of Commerce- Herbert Hoover  Secretary of the Treasury- Andrew Melon  Secretary of Agriculture- Henry Wallace  Secretary of the Interior- Albert Fall  Attorney General- Harry Daugherty
  3. 3. Harding’s Foreign Policy  1921- Ignored the Treaty of Versailles and signed a separate peace with Germany  1921- Washington Naval Conference  Armaments reduction meeting of major countries  Five Power Treaty- England, Japan, US, France, and Italy  Agreed to limit the number of war ships being produced and scrap existing ships and to not build forts or naval bases in the Pacific  Nine Power Treaty- US, Japan, China, France, England, Italy, Belgium, Holland, and Portugal  Agreed to observe the Open Door in China and to respect China’s integrity  Four Power Treaty- US, England, Japan, and France  Agreed to respect one another’s possessions in the Pacific
  4. 4. Harding’s Domestic Policy  Republican Platform under Harding  Higher tariffs  Lower taxes  Less government spending  Aid to disabled soldiers  Aid to farmers
  5. 5. Harding’s Domestic Policy  Budget and Accounting Act  Set up the Bureau of the Budget and a General Accounting Office  Allowed US citizens to see how the government intended to spend their money  Fordney-McCumber Tariff  Raised duties on agricultural and industrial products  Adversely affected the flow of foreign trade  European nations responded with high tariffs of their own
  6. 6. Harding’s Domestic Policy  Congress repealed the wartime excess profits tax on industry, reduced the top level of taxes on the wealthy from 65 to 50% (eventually down to 25%), and lowered taxes for middle and lower-income people  Bonus Bill  War veterans asked for increased benefits  Harding vetoed this bill and Congress could not override  Eventually passed during Coolidge’s administration as the Adjusted Compensation Act
  7. 7. Harding’s Domestic Policy  War debts and reparations  Harding called for the repayment of war debts owed by the Allies to be paid in installments  1922- United States War Debt Commission  Created to negotiate repayment plans with 17 Allied nations who owed the US money due to WWI  1924- The Dawes Plan  Reduced Germany’s reparations and allowed for payment over time  US banks and financiers lent money to Germany to pay their reparations
  8. 8. Scandal and Corruption  Veteran’s Bureau  Headed by Charles Forbes  In charge of the hospitals and all other forms of veterans’ relief  $250 million wasted or stolen from this program  Forbes left the country and resigned his position, but later would serve 2 years in federal prison  Charles Cramer, the Bureau’s legal advisor, committed suicide  Jesse Smith, Justice Department aid, was wrapped up in this scandal and committed suicide as well
  9. 9. Scandal and Corruption  Alien Property Custodian  Headed by Thomas Miller  In charge of taking and maintaining German property in the US during WWI  Miller sold much of this land and pocketed millions of dollars
  10. 10. Scandal and Corruption  Teapot Dome Scandal  Involved Secretary of the Interior Albert Fall  US had set aside oil fields as reserves and Fall leased two of these fields (Teapot Dome in Wyoming and Elk Hills in California) to private businesses in exchange for $325,000  Fall was imprisoned  Supreme Court canceled the leases
  11. 11. Harding’s Death  Warren Harding fell ill on a trip to the West Coast and Alaska in the summer of 1923  He succumbed to his illness and died on August 2, 1923

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