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Republican Presidents & Post War America

The Republicans Take Control I.  Following WWI the United States had three Republican

presidents A.  Harding, Coolidge, Hoover

II.  All three decreased government regulations in business which allow economic growth in the U.S.

A.  Republicans adopted a laissez-faire attitude toward business in the 1920’s

B.  Laissez-faire economics allowed business to grow without riles

III.  The Republicans laissez-faire attitude during the 1920’s allowed the USA to reach new economic heights …

A.  WE MADE A LOT OF MONEY!

Election of 1920

The Harding Presidency

I.  Warren G. Harding was elected President in 1920

II.  He campaigned on the

slogan “a return to normalcy” following WWI

III.  Harding’s presidency was

full of corruption, scandal, nativism, prosperity & isolationism

Harding 1920-1924

Harding & The American Economy I.  Harding administration wanted less

government in business” II.  Harding believed the U.S. government should

not interfere with the economy III.  The major economic problem faced by the

Harding administration was the repayment of European war debts

IV.  To manage European debt the Dawes Plan was created

A.  Germany could not pay its debt to France and G.B. so the U.S.A. lent Germany money

B.  That money was eventually paid back to the USA which was lent to the Allies during the war

Dawes Plan

Scandal Hits Harding I.  During Harding’s presidency

most Americans were happy and prosperous

II.  Many of Harding’s friends were involved in political scandals while he’s POTUS

III.  The most serious of these scandals was known as The Teapot Dome Scandal

Teapot Dome Scandal

I.  The government set aside oil-rich land in Teapot, Wyoming

II.  Secretary of Interior Albert Fall secretly leased the land to two oil companies.

A.  Accepted a $400,000 bribe from Oil Companies

III.  Convicted of accepting bribes/government corruption and sent to jail…

IV.  The American people grew unhappy with Harding due to govt. corruption

Cool Calvin Coolidge I.  President Harding died in 1923 (3 years into his presidency) II.  VP Calvin Coolidge assumes office of the Presidency

A.  Coolidge is serious & unemotional B.  Nickname: “Silent Cal”

III.  Coolidge is extremely pro-business A.  “The business of America is business” B.  Assisted in the passing of many laws aiding business

IV.  Coolidge hated government spending & vetoed nearly every bill that spent money

V.  Coolidge was reelected in 1924 but announced he would not run again in 1928

American Industry Flourishes

I.  American industrial manufacturing expanded greatly under Calvin Coolidge

A.  High tariffs led to a rise in American manufacturing B.  Coolidge’s laissez-faire economics allowed businesses to grow

throughout the 1920’s and the USA became incredibly wealthy

II.  America’s Industrial Expansion: A.  Throughout the 1920’s the American automobile industry exploded B.  Roads were built throughout the nation C.  Cars sales skyrocketed so did hotels, restaurants, gas stations &

shopping centers

The American Standard of Living I.  As American industry increased so did the amount of consumer

goods available to the American people A.  Washing machines, vacuums, refrigerators, sewing machines

II.  American consumers soon began buying goods never before available to them

III.  Americans craved these new industrial products and were willing to purchase them without the money to pay for them

A.  Americans began purchasing these goods on INSTALLMENT PLANS B.  Buying goods on credit à paying small amounts over time C.  Take out a loan to purchase products that they want

The Election of 1828

I.  Coolidge did not run for reelection in 1928

II.  Republicans nominated and elected Herbert Hoover

III.  The United States has become incredibly prosperous & wealthy during the rule of the previous two republican presidents

IV.  Hoover easily won the election of 1828 thanks to America’s success under the Republican presidents before him

The Effects of Republican Presidents

I.  During the 1920’s Republican policies promoted economic growth in the U.S.A.

II.  Businesses grew and so did profits for corporations III.  The 1920’s will be forever known for prosperity, wealth &

excess thanks to these Republican presidents…

IV.  Little attention was paid to the future as Americans focused on living in the NOW while serious economic problems were lurking just ahead…

ARE YOU WITH ME?? ①  Who were the three Republican presidents of the 1920’s?

②  How did laissez-faire economics lead to prosperity for American businesses during the 1920’s?

③  What scandal ruined Warren G. Harding’s presidency?

④  Explain the Tea Pot Dome Scandal:

⑤  How did American consumers begin purchasing items when they did not have the money for them?