SWBAT: Explain how the Presidents of the 1920s affected the United States Do Now: a)answer the following questions Why did the Senate reject the Treaty of Versailles following World War I? What type of foreign policy do you predict America will follow, following World War I in the 1920s?
President Warren G. Harding Republican 1921-1923 After World War I, Americans wanted to return to the normalcy of prewar days. They wanted less government control of business and much less international involvement. Republican, Warren G. Harding was elected President in 1920 along with Calvin Coolidge as Vice President. They instituted a foreign policy of return to normalcy Unfortunately, this return to normalcy was coupled with political scandal and economic problems.
United States Attempt At Peace Washington Naval Conference Nine nations were invited to Washington, D.C. (Not the Soviet Union) It was the first international conference held in the United States and the first disarmament conference in history. 1. Nine Powers Treaty - The United States, Britain, Japan, France, Italy, Belgium, the Netherlands, Portugal and China Internationalization of Open Door Policy 2. Five Powers Treaty - the United States, Great Britain, Japan, France and Italy Limitations on Naval Warship Tonnage 3. Four Powers Treaty - the United States, France, Britain, and Japan - agreed to consult with each other in the event of a future crisis in East Asia before taking action
United States Attempt At Peace Kellogg-Briand Pact Sponsored by France and the U.S., the Pact renounced the use of war and called for the peaceful settlement of disputes. The Kellogg-Briand Pact was an agreement to outlaw war signed on August 27, 1928. The pact was one of many international efforts to prevent another World War, but it had little effect in stopping the rising militarism of the 1930s or preventing World War II.
United States Seeks Repayment Of War Debt The United States was isolationist, but sought repayment of $10 Billion war debt from Britain and France. Fordney-McCumber Tariff (1922) Raised American tariffs in order to protect factories and farms. Congress displayed a pro-business attitude Promoted foreign trade through providing huge loans to Europe, which in turn bought more American goods. One unintended consequence of the Fordney-McCumber tariff was that it made it more difficult for European nations to export to the United States and so earn dollars to service their war debts.
United States Seeks Repayment Of Dawes Plan Attempt to stabilize the German Economy Hope this would allow for the repayment of war reparations. Caused tensions between the United States and Britain and France. War Debt Under the Dawes Plan, Germany s annual reparation payments would be reduced, increasing over time as its economy improved; the full amount to be paid, however, was left undetermined. U.S. banks continued to lend Germany enough money to enable it to meet its reparation payments to countries such as France and the United Kingdom. These countries, in turn, used their reparation payments from Germany to service their war debts to the United States.
Scandal President Harding was liked for his laissez faire attitude towards business. But Harding s inadequacies and appointment of corrupt friends, including the Ohio Gang, to federal offices caused him many problems! The Teapot Dome Scandal: Secretary of the Interior Albert Fall was convicted of accepting bribes from two oil executives in exchange for allowing them to lease government-owned petroleum reserves, one of which was at Teapot Dome, Wyoming
Scandal I have trouble with my enemies But my damned friends they re the ones that keep me walking the floor at night! -Warren G. Harding, 1923 What do you think Harding means by the quote above?
President Calvin Coolidge Republican 1923-1929 Calvin Coolidge or Silent Cal was sworn in upon Harding s untimely death in 1923. Coolidge was then elected in his own right. A respected man of integrity, Coolidge helped restore people s faith in government. His nickname was Silent Cal as he was known as a man of few words. The business of America is business. The man who builds a factory builds a temple. The man who works there worships there Calvin Coolidge
President Calvin Coolidge Republican 1923-1929 Laissez-faire economics, strong commitment to business interests Began economic recovery following recession that followed war. This recovery resulted in a boom from 1923-1929 in which the Gross National Product rose 40% and income rose 30% with little inflation Coolidge s pro-business policies included reduced taxes on the wealthy, higher tariffs, regulatory agencies such as the Federal Trade Commission assisting business, and support of corporate mergers
President Calvin Coolidge Republican 1923-1929 However, labor unions weakened, farmers overproduced and their income fell 50% leading to a decline in the number of farmers Due to the success of the economic recovery, stock market speculation surged. Some families invested their entire life savings and at first profits rolled in. However, buying on margin led to the eventual downfall of the stock market and economy in 1929
President Calvin Coolidge Republican 1923-1929 How does the Presidency of Calvin Coolidge also leave the following groups out of the economic prosperous of the 1920 s? Laborers: Farmers: African Americans: Native Americans:
SUM IT UP How did presidents of the 1920 s affect the United States?