The Roaring Twenties Dates in Office 1913 1921

The Roaring Twenties

Dates in Office: 1913 -1921 Nickname: The Professor Political Party: Democrat Major Events: • 17 th Amendment ratified • Federal Reserve Act • Clayton Anti-Trust Act • World War I – 14 Points and Treaty of Versailles • 18 th Amendment ratified • 19 th Amendment ratified Woodrow Wilson

The Roaring Twenties • Economic boom • Effects of WWI – Improved technology – Increased consumer culture • World’s highest standard of living – Wages soar 22% – Work hours/days decreased

Politics of the Roaring Twenties NORMALCY AND GOOD TIMES

WARREN G. HARDING’S ADMINISTRATION • Common man’s President – Looked the part, but not-so-smart • Return to “normalcy” • The Ohio Gang – Unqualified – Corrupt

The Republican Renaissance • New Republican ideals – Return to laissez faire economics – Disregard of anti-trust laws – Labor movement struggles • Fordney-Mc. Cumber Tariff – Good for domestic business – Bad for European business

• Massive oil reserves found at Teapot Dome, Wyoming • Sec. of the Interior Albert B. Fall – Bribes – Evidence tampering – Jury tampering • Harding unaffected – Uninvolved or unaware – Died of pneumonia Teapot Dome Scandal

Warren G. Harding Dates in Office: 19211923 Nickname: Winnie Political Party: Republican Major Events: • Emergency Quota Act • Teapot Dome Scandal • Washington Disarmament Conference

Coolidge’s Administration • “Silent Cal” • Runs for his own presidency (1924) – “Stay cool with Coolidge” – Conservative, isolationist, pro-business “The chief business of the American people is business. ”

Changes to Business • Modern organizational structure – Division of labor designed after factory labor – Managers vs. executives – Growth of middle class • Welfare capitalism • Labor struggles

Tough Times on the Farm • Agricultural boom during WWI – Demand – Technology – Credit • Postwar slump – Surplus – Debt • Mc. Nary-Haugen Bill – Congress purchase surplus, then sell overseas – Vetoed 2 xs by Coolidge

Calvin Coolidge Dates in Office: 1923 1929 Nickname: Silent Cal Political Party: Republican Major Events: • Dawes Plan • Immigration Act of 1924 • Charles Lindbergh make historic transatlantic flight • Kellogg-Briand Pact • Scopes Trial

Election of 1928 Herbert Hoover (R) • Success of Food Admin. in WWI • “Rugged individualism” Gov. Alfred E. Smith (D) • Progressive, anti. Prohibition leader • Catholic

Mo’ Money, Mo’ Problems • Andrew Mellon – So. T; believed government should operate like a business – Goals: balance the budget, reduce government debt, and cut taxes. • Supply-side/”trickledown” economics