The Presidents
and
Politics
Harding
And
Coolidge
overall
conservative
policies popular at time but lacked foresight
ambiguous on League of Nations
spoke of “return
conservative GOP began to lose power
unwillingness to embrace US strengths at end of war helped create
Grt Dep.
Election of 1920
no clear Rep
front-runner.
Warren G Harding
emerged as frontrunner
handsome
popular
controllable
platform
“Return to
Normalcy”.
Democratic Candidate
James Cox (OH)
supported League of Nations
chose Asst Sec of Navy Franklin D Roosevelt (NY) as running mate.
described as
“harmless but incompetent”
“pompous”
“a see nothing president”.
Return to Normalcy
reference to simpler times
return to laissez faire business practices
tariffs ↑
corporate, income taxes ↓
spending ↓
gov-bus cooperation
trusts allowed to grow w/out gov interference
return to isolation
US not to join League of Nations
will seek separate peace w/ Ger.
Return of Spoils System
appointed friends to prominent cabinet positions
used connections to make $$
considered one of worst pres in US hist.
Andrew W Mellon
Sec of Treasury
Herbert Hoover
Sec of Commerce.
not all cabinet members corrupt
2 standouts
Taxes/Tariffs
supported tax ↓ for wealthy and corporations
no tax ↓ for middle class
Fordney-McCumber Tariff
↑ tariff from 27% to 38.5%
farm products as high as 50%
impact
recovery in Eur impeded
European nations unable to repay debts to US
retaliatory tariff hurt US manufacturers.
Harding and the Supreme Court
Pierce Butler
Edward Sanford George Sutherland
William Howard Taft
named Chief Justice
conservative/reactionary
held back reform
ruled against progressive legislation
killed fed child labor law
stripped away gains made by labor
restricted gov intervention in econ.
Corruption and Scandal(s)
Veteran’s Bureau Scandal
Charles Forbes
Head of Veteran’s Bureau
army deserter
w/ accomplices
Forbes collected at least $250 M in
bribes/kickbacks
most in connection w/ building veteran’s
hospitals
sentenced to 2 yrs in fed pen.
Teapot Dome Scandal
Albert Fall
Secretary of Interior
considered one of “worst
minds” in Harding’s cabinet.
Fall
leased naval reserve oil lands
Teapot Dome, WY
Elk Hills, CA
to oilmen Harry F. Sinclair/Edward L. Doheny
took $100,000 bribe from Doheny
$325,000 from Sinclair
also got large herd of cattle
Harding
signed secret order approving move.
1923
Senator Thomas Walsh, MO
exposed scandal.
1924
Fall/oilmen
indicted
Senate investigation
1929
case finally resolved
Fall guilty of accepting bribes
fined $100,000
1 yr in jail
Fall/Doheney acquitted of
more serious charges.
Daugherty Scandal
Harry Daugherty
Attorney General
described as “big Irish crook”
illegally selling
pardons
liquor permits
taking bribes in process
brought to trial 2x
never convicted.
Miller Scandal
Col Thomas Miller
head
Office of Alien Property
illegally sold valuable Ger patents seized during war
convicted of fraud.
scandals undermined public’s faith in cts/pub officials
“In America, everyone is assumed guilty until proven rich.”
"My God, this is a hell of a job! I have no trouble with my
enemies, but my damn friends, they're the ones that keep me
walking the floor nights.“
Warren G Harding
Harding Leaves Office
Unexpectedly
scandals break after
Harding’s death
Calvin Coolidge assumes
office.
Election of 1924
Reps stick w/ Calvin Coolidge.
everyone
promising ↓
taxes.
last Presidential election for Progressive party
US too prosperous for voters to be concerned w/ reform
Democrats badly split
“wets”/“drys”
modernists/fundamentalists
N liberals/S white supremacists
immigrants/WASPs.
Results
Calvin Coolidge
academician
considered extremely honest
not a strong leader
quiet
“Silent Cal”
“The business of America is
business.”
supported Social Darwinism
“a man is worth the wages he
can earn”
white supremacist.
The Farm Problem
causes
WW I
production ↑ to feed both US/Eur
technology
new machines increased crop yields
led to overproduction.
The McNary – Haugen Bill
designed to keep agricultural prices ↑
est gov subsidies
purchase excess
sell abroad
Coolidge vetoed 2x.
Muscle Shoals
when completed, lgst mass concrete lock & dam built
1st fed hydroelectric proj as AWA 1st Corps of Engineers multipurpose
effort
later incorporated into TVA system.
Domestic Impact of Harding
and Coolidge
rich got richer -- poor got poorer
wild speculation on stocks
ag overproduction/farm foreclosures
continuing ↓ of foreign trade
post war recession in Eur
US protective tariffs.
Foreign Policy Under
Harding/Coolidge
Isolationism
US refused to sign
Versailles Treaty
League of Nations Covenant
1921
Cong passed joint resolution declaring war over
naval arms race shaping up
US, Britain, Japan.
Unpaid Loans and Reparations
US emerged from war creditor nation
demanded repayment
failed to realize Eur economies not recovered
GBr/Fr protest repayment demands
loans should be forgiven
GBr/Fr pd heavier price in lost lives.