1. Unit 5 - The Harding Presidency

2. President Warren G. Harding (1921 – 1923) - Republican
Promoted a return to “normalcy”
Considered one of the least effective presidents

4. Harding Struggles for Peace
Washington Naval Conference
Involved the five major naval powers US
Great Britain
Japan
France
Italy
Agreed to limit the sizes of their navies
Limit construction of new warships
Scrap some existing ships

5. Harding Struggles for Peace
Fordney-McCumber Tariff
Raised taxes on imports to 60% - highest ever
Protected American businesses
Increased isolationism
Made it impossible for France and Britain to repay US war debts

6. Harding Struggles for Peace
Dawes Plan
Britain and France needed German reparations to repay US war debts
Germany could not pay – France invaded part of Germany
American investors loaned money to Germany
Germany can pay reparations to France and Britain
France and Britain can repay US loans
US is being repaid with its own money
Anger at US
US not paying its fair share
US profiting from war and war debts

7. Charles Dawes Nobel Peace Prize

8. How does this benefit the United States?

9. Scandal in Harding’s Administration
“I have no trouble with my enemies…But my friends, they’re the ones that keep me walking the floors nights.”

10. Scandal in Harding’s Administration
The Ohio Gang
Cabinet consisting of Harding’s Friends
Corrupt friends used positions to make money
Scandals would cause embarrassment

11. Scandal in Harding’s Administration
Teapot Dome Scandal
Oil-rich land set aside for use by US Navy
Teapot Dome, Wyoming
Elk Hills, California
Albert Fall
Sec. of Interior
Got Land transferred from Navy to Interior Dept.
Fall secretly leased the land to two private oil companies
Fall received over $400,000 in cash, loans, and bonds
Convicted of felony while in Cabinet

14. Harding’s Death Harding died suddenly on Aug. 2, 1923
Heart Attack
Calvin Coolidge (Republican) becomes president