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Chapter 21: Normalcy and Good Times (1921-1929)
Growing up Harding! 1920 campaign slogan “Return to
Normalcy” Appointed “Ohio Gang” as
members of cabinet
“…The air [would be] heavy with tobacco smoke, trays with bottles containing every imaginable brand of whiskey…cards and poker chips at hand-a general atmosphere of waistcoat unbuttoned, feet on desk, and spittoons alongside…”
The Teapot Dome Scandal
Albert B. Fall- leased lands containing U.S. Navy oil reserves in Teapot Dome, Wyoming, and Elk Hills, California.
Bribes totaled more than $300,000 1st cabinet officer in history to go to prison
Harding Scandals, Cont’d.
Attorney General Harry Daugherty
Silent Cal Born July 4th 1872 Asked to run as
Harding’s VP “Silent in 5 languages” Prosperity= business
leadership; interfere as little as possible
1924-“Keep cool with Coolidge”
“The chief business of the American people is business” –Calvin Coolidge Speech in Washington, Jan. 17, 1925
A Growing Economy
Real per capita earnings soared 22% between 1923 and 1929
Work hours decreased shifts from 12 hrs -> 8 hrs
Henry Ford cuts work week from 6 -> 5 days
2 week paid vacation for employees
Ford Motor Company
1908 $8501914 $4901917 $3601924 $295
Consumer Goods in the 1920s
Credit-installment plans Americans bought 75% of their radios and 60% of
their automobiles on the installment plan throughout the 1920s.
Farm Crisis: 1920s
Earned less than 1/3 of average income for workers in rest of economyDue to fertilizers, pesticides, farm machineryLow prices of crops!
Supply side economics
Andrew Mellon-secretary of the treasury
Cut government spending Lower taxes = businesses and
consumers spending and investing their $$$
Believed this would cause the economy to grow
Foreign Affairs
Dawes Plan-Post WWI
Washington Conference
Kellogg-Briand Pact
Amelia Earhart 1897-1937
Flew solo across the Atlantic 1937 attempted to fly world with her
navigator 2/3 of trip covered when plane
disappeared