THE HARDING THE HARDING PRESIDENCYPRESIDENCY

MAIN IDEA:MAIN IDEA:

The Harding The Harding administration administration

appealed to America’s appealed to America’s desire for calm and desire for calm and peace after the war, peace after the war,

but resulted in but resulted in scandal.scandal.

Harding Struggles for Harding Struggles for PeacePeace Washington Naval Conference- Washington Naval Conference-

Russia left out b/c communistRussia left out b/c communist At the conference At the conference Secretary of Secretary of

StateState Charles Evans HughesCharles Evans Hughes urged that no more warships be urged that no more warships be built for 10 yearsbuilt for 10 years

First time in history powerful First time in history powerful nations agreed to disarmnations agreed to disarm

Kellogg-Briand PactKellogg-Briand Pact- renounced - renounced war as a national policywar as a national policy

Pact did not work b/c it provided Pact did not work b/c it provided no means of enforcementno means of enforcement

HIGH TARIFFS AND HIGH TARIFFS AND REPARATIONSREPARATIONS

Britain and France had to pay back 10 Britain and France had to pay back 10 billion they borrowed from Americabillion they borrowed from America

Two ways: selling goods to the US or Two ways: selling goods to the US or by collecting reparations from by collecting reparations from GermanyGermany

1922 America adopted 1922 America adopted Fordney-Fordney-McCumber TariffMcCumber Tariff- raised taxes on U.S. - raised taxes on U.S. imports to 60%imports to 60%

Tax made it impossible for Britain Tax made it impossible for Britain and France to sell enough goods in and France to sell enough goods in the US to repay debtsthe US to repay debts

Germany was experiencing Germany was experiencing terrible inflationterrible inflation

Germany failed to make a Germany failed to make a payment and French payment and French troops marched into troops marched into GermanyGermany

To avoid war To avoid war Charles G. Charles G. DawesDawes-American banker -American banker negotiated loansnegotiated loans

Dawes PlanDawes Plan- American - American investors loaned Germany 2.5 investors loaned Germany 2.5 billion to pay back Britain billion to pay back Britain and Franceand France

Countries then paid the U.S.Countries then paid the U.S. The United States arranged to The United States arranged to be repaid with its own moneybe repaid with its own money

U.S. benefited from the defeat U.S. benefited from the defeat of Germany without risking of Germany without risking millions of livesmillions of lives

SCANDAL HITS HARDING’S SCANDAL HITS HARDING’S ADMINISTRATIONADMINISTRATION

Harding favored a limited Harding favored a limited role for government in role for government in business affairs and social business affairs and social reformreform

Herbert HooverHerbert Hoover- Secretary of - Secretary of CommerceCommerce

Andrew MellonAndrew Mellon-Secretary of -Secretary of Treasury- cut taxes and Treasury- cut taxes and reduced debtreduced debt

OHIO GANGOHIO GANG- president’s poker - president’s poker playing croniesplaying cronies

President did not understand President did not understand many issuesmany issues

Corrupt friends used power to Corrupt friends used power to gain wealthgain wealth

Charles R. ForbesCharles R. Forbes- head of - head of Veterans bureau was caught Veterans bureau was caught illegally selling government illegally selling government and hospital supplies to and hospital supplies to private companiesprivate companies

TEAPOT DOME SCANDALTEAPOT DOME SCANDAL- - government had set aside oil rich government had set aside oil rich public lands at Teapot Dome, public lands at Teapot Dome, Wyoming and Elk Hills, California for Wyoming and Elk Hills, California for U.S. Naval usageU.S. Naval usageSecretary of the Interior Albert B. Secretary of the Interior Albert B. FallFall- got oil reserves transferred to - got oil reserves transferred to the Interior Departmentthe Interior Department

Leased the land to two private Leased the land to two private companiescompanies

Received more than $400,000 in Received more than $400,000 in loans, bonds and cashloans, bonds and cash

Became the first American to be Became the first American to be convicted of a felony while holding a convicted of a felony while holding a cabinet position cabinet position

HARDING DIESHARDING DIES August 2, 1923 Harding died August 2, 1923 Harding died

of a heart attack or strokeof a heart attack or stroke Americans mourned good Americans mourned good

natured presidentnatured president Calvin Coolidge took over Calvin Coolidge took over

presidencypresidency Restore nation’s hope in Restore nation’s hope in

Republican partyRepublican party Next year elected presidentNext year elected president