the roaring twenties - section 2 desire for normalcy - section 3 booming economy
TRANSCRIPT
The Roaring Twenties
- Section 2 Desire For Normalcy- Section 3 Booming Economy
President Warren G. Harding• Warren G. Harding• Elected President in 1920• 1st election that women
were allowed to vote • Promised a return to
“normalcy” • His cabinet was known as
the “Ohio Gang” members were friends from his home state
• Supported Big business and lower taxes
Trouble with the Ohio Gang• Cabinet members were
very unethical: numerous scandals occurred (though Harding was considered very honest)
• Teapot Dome Scandal: Harding’s secretary of the Interior, Albert Fall, took bribes from oil companies in Teapot Dome Wyoming
• President Harding dies in office : August of 1923
Calvin Coolidge
• Assumes presidency after the death of Harding
• Attempts to clean up the mess from the scandals of the Harding administration
• Elected President in 1924
“The business of America is business”
• Supported a laissez faire theory of economics: Leave business unregulated and it will thrive
• Businesses grow and many Americans become extremely wealthy
• Did not support the farmers who were suffering from lower food prices because of technological inventions
Foreign Policies
• Like Harding he was an isolationist: Stay out of other nation’s problems
• Major peace effort was the Kellogg-Briand Pact of 1928: 15 nations agree not to go to war unless it was in self defense
A Booming Economy
Post war economics
Post War Economics
Technology Changes American Life
• America becomes very wealthy during the Roaring Twenties
• Average income rises greater then 35 %
• Automobiles have the greatest impact on 1920’s life
• Ford’s Model T was a very popular & affordable car
Ford perfects the assembly line production
Consumer goods on the rise
Shopping
• Advertising entices people to buy products
• Fuel becomes readily available & affordable (petroleum & electricity)