Warren G Harding 1921 1923 Calvin Coolidge 1923

Warren G. Harding 1921 -1923 Calvin Coolidge 1923 -1929 Herbert Hoover 1929 -1933

“America’s present need is not heroics, but healing; not nostrums, but normalcy; not revolution, but restoration; not agitation, but adjustment. . . not submergence in internationality, but sustainment in triumphant nationality. ” Warren G. Harding

“The chief business of the American people is business. ” Calvin Coolidge

“A chicken in every pot and a car in every garage. ” Herbert Hoover

• Coined by President Harding • Reflected the desire to return to the simpler days before the Progressive Era and WWI • Promised quiet prosperity, smaller government, and a focus on domestic business

• Policy of laissez-faire • Lower government spending • Lower taxes • Higher tariffs • Subsidies and loans to encourage business growth • Decrease in national debt

• Washington Naval Conferences (1921) • USA, Great Britain, Japan, France, Italy • disarmament treaty signed • limited construction of new naval warships and submarines with freeze on construction for 10 years • Kellogg-Briand Pact (1928) • 15 signatory countries renounced war as a national policy

• Fordney-Mc. Cumber Tariff (1922) • Raised taxes on US imports to 60% (highest ever) • Helped US companies thrive • Dawes Plan (1922 -1933) • American loans to Germany ($2. 5 million) to help repay reparations and avoid another war