The Harding Presidency 1920 1923 The Harding Presidency

The Harding Presidency 1920 -1923

The Harding Presidency • 1921 -1923 • Famous for his comforting speeches – Greatly needed for a “healing nation” • Despite his presidential demeanor, Harding’s administration was plagued with scandal and poor judgment

Harding Struggles for Peace • Problems concerning arms control, war debts, and the reconstruction of war-torn countries arose • Harding’s solution: invite major powers to D. C. in 1921 (*no Russia because of fear of communism) – Charles Evan Hughes • Secretary of State • Urged the 5 major naval powers to destroy many of their warships as a means to disarm – U. S. , Great Britain, Italy, Japan, France

Harding Struggles for Peace • 1928: Kellogg-Briand Pact – AKA: The Treaty for Renunciation of War – The pact declared war to be unacceptable as a means of national policy – 15 nations signed it – Problem: ineffective in preventing the outbreak of war (hence WWII…)

High Tariffs and Reparations • Main problem: international debts – Private loans, Allied war debts, German reparations • Allies wanted to pay the U. S. with money received from Germany – French move troops into Ruhr Valley to try and force Germany to pay • Germany’s response: outrageous inflation • Dawes Plan (1924) – Charles Dawes – Rescheduled German reparation payments and allowed for U. S. loans to Germany • United States would basically be re-paying itself back – U. S. never received payment in full; simply angered Europeans

Scandal Hits Harding’s Administration • The Ohio Gang: shady group of cabinet members who were friends with Pres. Harding - some become wealthy through graft • Charles R. Forbes: – Head of the Veterans Bureau – Illegally sold government supplies to private companies • Took $200 million from the government

Scandal Hits Harding’s Administration • Teapot Dome Scandal – Naval oil reserves in Wyoming and Elk Hills, California – Albert B. Fall manipulated the transfer of the territories to the Interior Dept. – Then he leased the land to oil tycoons, Harry F. Sinclair & Edward L. Doheny after receiving a hefty “loan” (aka: bribe) • Scandal leaked out in 1923 and the three were indicted – Fall found guilty in 1929 – Harding dies before the scandals ever leak