6.3

Warren G. Harding's Presidency

  • Inaugurated in 1921, characterized as honest and kind but struggled with corruption.

  • Surrounded by both competent (Charles Evans Hughes, Andrew Mellon, Herbert Hoover) and corrupt officials (Albert Fall, Harry Doherty).

  • Created mixed legacy with honest intentions overshadowed by corrupt administration.

Political Landscape

  • New Old Guard: a new group of Republicans, conservative or reactionary.

  • Political spectrum defined from reactionary (backward looking) to radical (leftist).

  • Harding and his government favored interventionist policies over laissez-faire capitalism.

Economic Policies

  • Implementation of the Esh-Cummins Transportation Act (1920) aimed at private railroad management, securing their profitability.

  • Established favorable interventions and policies, straying from traditional capitalism.

  • Veteran care improved with the establishment of the Veterans Bureau (1921) and support for the American Legion.

Supreme Court and Legislation

  • Harding appointed conservative judges leading to reactionary rulings.

  • Notable case: Adkins v. Children's Hospital (1923) denied special protections for female workers.

International Relations

  • Isolationism post-WWI; rejection of the League of Nations.

  • Involvement in oil rights negotiations in the Middle East and naval disarmament treaties (Five-Power Treaty, Four-Power Treaty, Nine-Power Treaty).

Scandals and Corruption

  • Major scandals (Teapot Dome, Veterans Bureau) marred Harding’s presidency, leading to public discontent.

  • Harding died in 1923, leaving his administration to Calvin Coolidge.

Calvin Coolidge's Presidency

  • Continued Harding's policies; maintained Republican dominance in government.

  • Farmers faced economic challenges due to high production and low prices; rendered ineffective by Coolidge's vetoes of relief bills.

Herbert Hoover's Presidency

  • Elected in 1928, represented continuation of Republican policies.

  • Presidential responses to the Great Depression included public works and banking bailouts, but largely upheld laissez-faire principles.

  • The stock market crash of 1929 catalyzed economic downturn; Hoover criticized for inaction and inability to provide sufficient relief.

The Great Depression

  • Caused by overproduction and resultant economic cycles, leading to widespread unemployment.

  • Impacted not just the U.S., but also globally due to interconnected trade practices and reparations.

Veterans and Bonus Army

  • Bonus Army protested for early payment, culminating in violent repression by Hoover's administration.

Japanese Expansionism

  • Japan's invasion of Manchuria in 1931, perceived weakness in Western powers, setting the stage for future conflicts.