1. The Roaring
Twenties

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

3. 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
The 1920s gains the nickname of the Roaring 20s because of the economic boom that occurred during the time
USA the only nation to come out of WWI with any money left
Improved technology during the war improves consumer culture
World’s highest standard of living
The average American wage soared 22%
Work hours and days decreased, leaving more time for entertainment
Many Americans were getting a vacation for the very first time.

4. Normalcy and Good Times
Politics of the Roaring Twenties
Normalcy and Good Times

5. WARREN G. HARDING’S ADMINISTRATION
Common man’s President
Looked the part, but not-so-smart
Return to “normalcy”
The Ohio Gang
Unqualified
Corrupt
He was tall and handsome, and looked the part of President
Was gullible and of average intelligence
Harding was chosen because he was “folksy” – a man of the people, as a contrast to Wilson’s elitist professorial persona.
Harding promoted a return to “normalcy” after the war.
The Ohio Gang: Friends and political allies Harding appointed to high government positions from his home state of Ohio.
Many members were corrupt
Sold government positions, gave criminal pardons, laundered money, etc.

6. The Republican Renaissance
New Republican ideals
Return to laissez faire economics
Disregard of anti-trust laws
Labor movement struggles
Fordney-McCumber Tariff
Good for domestic business
Bad for European business
Under Harding’s administration, business boomed, largely to the return to laissez faire economics and a disregard of Anti-Trust laws
The labor movement struggled badly, causing strikes, riots, and distrust
Fordney-McCumber Tariff raised rates to 38%, helping domestic business, but hurting European countries that needed to export to the US to pay back their WWI debts to us.

7. Teapot Dome Scandal 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
Harding’s gullibility allowed for dishonest men to take advantage of his administration
Sec. of Interior Albert B. Fall was to manage natural resources, and when oil was found near Teapot Dome, WY, he had the land secretly placed under his control, accepting bribes for oil drilling rights.
Word leaked out and the case dragged on for six years, adding jury and evidence tampering to the scandal

8. Warren G. Harding Dates in Office: 1921-1923 Nickname: Winnie
Political Party: Republican
Major Events:
Emergency Quota Act
Teapot Dome Scandal
Washington Disarmament Conference

9. 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.”
Harding died of pneumonia
Coolidge was calm, shy, moral, boring, and quiet
Was even more pro-business than Harding
Coolidge was reelected as a conservative, dedicated to isolationism, business, and war debt repayment
First presidential election where women were allowed to vote in all states

10. Changes to Business Modern organizational structure Welfare capitalism
Division of labor designed after factory labor
Managers vs. executives
Growth of middle class
Welfare capitalism
Labor struggles
Modern organizational structures developed during this time
Divisions were created, e.g. sales, marketing, accounting, etc.
Managers freed executives from dealing with day-to-day functions, allowing them to focus on long-range plans.
Helped the middle class grow
Welfare capitalism: Companies allow workers to buy stock, participate in profit sharing, and receive pensions and medical benefits.
Unionization lost popularity – times were good, so why join a union?

11. Tough Times on the Farm Agricultural boom during WWI Postwar slump
Demand
Technology
Credit
Postwar slump
Surplus
Debt
McNary-Haugen Bill
Congress purchase surplus, then sell overseas
Vetoed 2xs by Coolidge
During WWI, famers enjoyed a boom with increased demand for agricultural goods
After the war, demand dropped, and new technologies made produced crops faster, thus dropping prices even further.
McNary-Haugen Bill: Congress tried to keep agriculture prices high by buying surpluses and then selling them to other nations. It was vetoed twice by Coolidge.

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

13. Election of 1928 Herbert Hoover (R) Gov. Alfred E. Smith (D)
Progressive, anti-Prohibition leader
Catholic
Success of Food Admin. in WWI
“Rugged individualism”
Herbert Hoover became the nominee for the Republicans, promoting “rugged individualism” - America had been made by strong, self-sufficient individuals
Democrats nominated NY Governor Alfred E. Smith, a well-liked man, but he was Catholic, which was the death blow for the South.
With the popularity of the radio, Hoover had the advantage over Smith’s grating New York accent.

14. Mo’ Money, Mo’ Problems Andrew Mellon
SoT; believed government should operate like a business
Goals: balance the budget, reduce government debt, and cut taxes.
Supply-side/”trickle-down” economics
Andrew Mellon: Secretary of Treasury; believed government should operate like a business
Goals: balance the budget, reduce government debt, and cut taxes.
Supply-side/“Trickle-down” economics: Theory that lower taxes (especially for the wealthy) will boost the economy as businesses and individuals invest their money, thereby creating a higher tax revenue.
The US retreated into isolationism after WWI, hoping to avoid further foreign entanglements. It also left them without allies.