1. The Republican Presidents of the 1920s
13.2 Harding and Coolidge

2. Republican Theme
Less involved in economy = only get involved to help business
Trickle Down Effect – low taxes on the rich = they will invest more. – promote economic growth
Business profit increased 60%
Worker income increased only 10%

3. Warren Harding’s Administration

4. Harding’s Cabinet and Goals
Composed of many businessmen
Secretary of Treasury –
Andrew Mellon
Secretary of Commerce –
Herbert Hoover
Goals: 1. Reduce National Debt
2. Promote Economic Growth
- Both Work – Business Boomed

5. Scandals of the Harding Administration

6. Ohio Gang - Harding’s friends who came with him to D.C.
Used their connection to make illegal financial gains
Charles Forbes – Director of Veteran Affairs
Pocketed millions illegally
Harry Daugherty – Attorney General
Forced to resign after taking bribes

7. The Teapot Dome Scandal
Albert Fall - Secretary of the Interior
Persuaded Secretary of the Navy to transfer control of oil reserves to him
Gave control of these reserves away to private companies for bribes
Convicted and jailed for accepting bribes

8. Harding Dies
August 1923
Harding died of a heart attack in San Francisco
Vice President Coolidge was immediately sworn in as president

9. Calvin Coolidge’s Administration

10. Cal’s Actions as President
Wanted to restore the reputation of the presidency
Fired all people involved in Harding’s scandals
Promoted pro-business policies since the economy was booming
Cut taxes for Wealthy
Vetoed legislation to help workers

11. Coolidge as President
Coolidge decided not to run for reelection in 1928
Found being president burdensome
Probably would have won

12. Election of 1928
Herbert Hoover- final Republican president of the decade
He will be in office when the market crashes and prosperity comes to an end