The 20’s: A Conservative Era

The 20’s marked the "high tide of American

conservatism," as major republican candidates campaigned for limited

government, reduced taxes, and less regulation.

A Conservative and Republican Era

Warren G. Harding (1921-1923)Calvin Coolidge (1923-1929)Herbert Hoover (1929-1933)All three:

Warren G. Harding

Relaxed and genial

Leadership style:

Well-qualified Cabinet members: Henry C. Wallace Charles Evans Hughes Andrew Mellon Herbert Hoover

Conservative policies

Andrew Mellon, Secretary of TreasuryOne of the countries

wealthiest men

Does he really understand the average person?

Harding’s bad choices

“This is a hell of a job! I have no trouble with my enemies… But my damned friends, they’re the ones that keep me walking the floor nights.”

“The Ohio Gang:” Attorney General Henry Daugherty, Albert Fall, Secretary of the Interior, Charles Forbes, Veterans Bureau

Harding suffers a heart attack in July, 1923 and dies on August 2

“The Ohio Gang”1924 Senate investigation reveals:DaughertyForbes

Teapot Dome

Secretary of the Interior Albert Fall secretly leased government oil reserves to two friends

Accepted “loans” from these men for an upwards of $400,000

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Calvin Coolidge

“Silent Cal” takes over after Harding’s death

Coolidge’s Policies

Fordney-McCumber and Smoot-Hawley Tariffs:

1924 Election

Calvin Coolidge (Republican)

John W. Davis (Democratic)

Robert La Follette (Progressive)

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Herbert Hoover Elected President in 1928

over Democrat Al Smith Engineer, head of Food

Administration, Secretary of Commerce; “The Great Engineer”

“We in America today are nearer to the final triumph over poverty than ever before in the history of any land.” Ironic?

Hoover’s Social Thought

The economy should operate like a well oiled machine

Did not believe in cutthroat capitalist competition

Voluntarism:

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