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The Harding and Coolidge Presidencies Warren G. Harding was a newspaper publisher from Marion, Ohio. As a Republican U.S. Senator Harding is not remembered for his work ethic, but his love of leisure. As president, he regarded his job as largely ceremonial. Harding won the presidential election of 1920 because he avoided taking a stand on issues and he offered an appealing message - the nation needed to heal and return to “normalcy” post WWI. President Harding’s answer to the nation’s postwar economic troubles was his campaign slogan, “Less government in business and more business in government”: ● ● cut federal budget reduce taxes on the wealthiest Americans The Harding and Coolidge Presidencies Harding took one measure only to help farmers - he signed a tariff raising the cost of foreign-grown farm products. Harding’s cabinet had several highly skilled people: ● ● ● Treasury Secretary Andrew Mellon, a multimillionaire business person and philanthropist Secretary of State Charles Evans Hughes Commerce Secretary Herbert Hoover Not all of the cabinet members were respectable. Harding named a number of old friends (nicknamed the Ohio Gang) to government posts. Some were convicted of taking bribes. The Harding and Coolidge Presidencies The worst Harding-era scandal involved Secretary of the Interior Albert Fall who was convicted of accepting bribes in return for allowing oil companies to drill federal oil reserves on a piece of federal land known as Teapot Dome in Wyoming. Harding died of a heart attack in 1923 while on a trip with his wife. At the time of his death, Harding’s popularity was high. Over time, the corruption of his administration and his own failings soured his reputation. Vice President Calvin Coolidge became the 30th president of the United States. His reputation for honesty helped him deal with Harding administration scandals. The Harding and Coolidge Presidencies Coolidge’s presidency was characterized by his belief: ● ● ● ● ● ● ● in the power of business and industry that business would provide energy and resources to fuel America’s growth that business would promote the arts and sciences that business would fund charities to help society the role of government should be strictly limited in lowering taxes in reducing the federal budget Coolidge chose not to run for re-election in 1928. The Harding and Coolidge Presidencies Lingering effects of World War I: ● ● ● Europe was unable to repay the $10 billion it borrowed from the U.S. during the war Europe demanded reparations (payments designed to make up for the damage of war) from Germany Germany was unable to pay what the Allies demanded and began borrowing from the U.S. Peacetime brought public pressure to reduce the size of U.S. armed forces to save money and reduce threat of war. People feared that the naval powers of the world, especially Great Britain and Japan were on the verge of an arms race (competing nations build more and more weapons in an effort to avoid one nation gaining a clear advantage). The Harding and Coolidge Presidencies Hoping to head off an arms race, the U.S. government organized the Washington Naval Conference in 1921. The conference was a great success: ● ● ● ● major naval powers of the world attended parties agreed to cut back on size of their navies countries scrapped existing ships and some that were under construction agreement reached to avoid competition for control of China The Harding and Coolidge Presidencies Brigadier General Billy Mitchell argued that the U.S. should invest more in building up its air power. Mitchell conducted tests to prove the superiority of air power over naval power. Other military officials were not convinced and punished him for his accusations. Though the U.S. had refused to join the League of Nations, a strong interest remained in preventing another catastrophic war. The U.S. proposed an agreement that would involve many countries. The Kellogg-Briand Pact was the result. The Kellogg-Briand Pact was an agreement signed by a number of nations in 1928, named after Frank B. Kellogg, United States Secretary of State, and Aristide Briande, the foreign minister of France. Its intention was to outlaw the use of war to resolve disputes between signatory states. Its first signatories, on August 27, 1928, were the United States, France, and Germany; most other powers signed afterwards.