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“The business of America is business. The man who builds a factory builds a temple. The man who works there worships there” President Calvin Coolidge.

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Presentation on theme: "“The business of America is business. The man who builds a factory builds a temple. The man who works there worships there” President Calvin Coolidge."— Presentation transcript:

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3 “The business of America is business. The man who builds a factory builds a temple. The man who works there worships there” President Calvin Coolidge

4 Presidential Leadership in the 1920’s President Warren G. Harding –H–H–H–Harding wins landslide election promising a return to “normal” Return to isolationism Pro-business policies Make economy grow and create jobs Americans were war weary & wanted a return to pre-war days

5 How did Harding Disappoint the People? Political Scandals –H–H–H–Harding’s political appointees were corrupt –C–C–C–Cabinet secretary was bribed and secretly leased land to oil companies at Teapot Dome, Wyoming –F–F–F–First time a cabinet secretary was sent to prison –H–H–H–Harding dies in office of a heart attack before scandals are connected directly to him

6 Calvin Coolidge Takes Office “Silent Cal” –S–Sworn in after Harding’s death –C–Coolidge was different from Harding Not a big speech maker or party thrower Coolidge repaired damage caused by scandals

7 Coolidge Prosperity “The business of America is business. The man who builds a factory builds a temple. The man who works there worships there” Calvin Coolidge What was Coolidge’s priority as president? –P–P–P–Pro big business –B–B–B–Business was the most important part in creating the American way of life –B–B–B–Began a period of rapid economic growth

8 Industry Booms –Q–Q–Q–Quantity of goods made by industry doubled –M–M–M–More jobs were made and incomes rose –P–P–P–People spent money on new products Refrigerators, radios, phonographs, vacuum cleaners –I–I–I–Installment buying (credit) allowed people to spend more money than they could afford –O–O–O–Overspending became a serious economic problem

9 A Soaring Stock Market –M–M–M–More people invested in the stock market than ever before. (Bull Market) –S–S–S–Stocks were bought on margin For 10% down payment, buyers held stocks until the price rose and sold it for a profit Margin buying works as long as stock prices rise –M–M–M–Margin buying became a cause for The Great Depression of the 1930’s

10 Foreign Affairs Presidents Harding and Coolidge kept the U.S. out of European affairs (Isolation) US remained out of the League of Nations The US intervened in Latin America when American business interests were threatened US signed the Kellogg-Briand Pact –T–T–T–This treaty outlawed war, but had no means of keeping the peace

11 Conclusion How did presidential leadership influence US policy during the 1920’s? –P–P–P–Presidential leadership: Created a strong economy Created a bull market Returned the nation to pre-WW1 isolation Increased jobs and family income Created an era of peace & prosperity


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