The Politics of Prosperity

I. Corruption under Harding1. Appointment of personal friends a. “Ohio Gang” -bribes “Teapot Dome Scandal” -sold “preserved” land -made deals with bootleggers

Elk Hills and Buena Vista Hills in Cal, and Teapot Dome in Wyoming, were oil fields located on public land reserved for emergency use by the U.S. Navy only when the regular oil supplies diminished. Many politicians and private oil interests had opposed the restrictions placed onthe oil fields, claiming the reserves were unnecessary and the American oil companies could provide for the Navy.

II. Keeping Cool With Coolidge

1. “Hands-off” style a. “Silent Cal”2. Aid to business a. Tax cuts b. Encouraged competition -lower prices for consumers

III. Election of 1928

1. Coolidge declined to run2. Herbert Hoover won a. Defeated Alfred E. Smith -1st Catholic candidate

to run for president

IV. Economic Boom

1. Post-WWI a. Europe destroyed b. “Big Brother U.S.A.” c. Auto Industry -boosted other industries -oil, steel etc…

d. Advertising industry -appealed to employed Americans

Questions

1. What were the policies of the Republican Presidents during the 1920’s?

2. What factors caused prosperity during this decade?