the roaring 20s : presidential politics
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The Roaring 20s : Presidential Politics. Ch 8.1. Friday, March 23, 2012. Daily goal: Understand the significance of the Teapot Dome Scandal and the Ohio gang in the Harding Presidency and President Coolidge’s approach to business. Ch 7.3 Notes Analysis- - PowerPoint PPT PresentationTRANSCRIPT
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The Roaring 20s: Presidential Politics
Ch 8.1
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Friday, March 23, 2012
• Daily goal: Understand the significance of the Teapot Dome Scandal and the Ohio gang in the Harding Presidency and President Coolidge’s approach to business.
• Ch 7.3 Notes Analysis-• Explain what significant gains and set backs
African Americans encountered in the 1920s.• Oscar Depriest, Harlem Renassaince, NAACP.
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The Harding Presidency
• Harding ran for President promising “a return to normalcy” or a return to normal life after the War.
• Pres. Harding marked an end to the Progressive Era.
• Normalcy=Laisseiz-Faire
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Just making an honest living…
Why do they have their hands out behind them?
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The Ohio Gang
• Pres. Harding picked his close friends (the Ohio Gang) for important gov’t jobs and they were very corrupt.
• Veteran’s Bureau was caught selling medical supplies from the Veteran’s bureau.
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Teapot Dome Scandal
• Pres Harding’s Secretary of the Interior Alfred B. Fall took bribes from Oil Companies in exchange for Navy Oil reserves in Teapot Dome, Wy. and Elk Hills, Ca.
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Discussion Questions
• Does gov’t regulation hurt the economy or help the economy?
• Example regulation: The gov’t increases the minimum wage to $10/hour
• Consequences:• Business owner costs go up, so they have to raise
prices which could hurt sales.• On the other hand workers now have more
money to spend in the economy.
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President Coolidge
• When Pres. Harding died in 1923 Coolidge became Pres.
• Coolidge kept most of Harding’s policies, but replaced most of the remaining Ohio Gang.
• Coolidge practiced laissez-faire economics, and believed the gov’t shouldn’t regulate business.
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Coolidge in his own words
• “The chief business of the American people is business. The man who builds a factory builds a temple. The man who work there worships there.”