Harding and Coolidge

• Harding's reputation


  - popular especially with women => promoted moderate policies and a return to normalcy

  - extra-marital affairs and corrupt inner circle damaged reputation
• Teapot Dome Scandal


  1922

  - high officials e.g. Sec of the Interior Albert Fall accused of leasing oil reserves in return for bribes (later jailed)
• Harding's view on business (quote)


  'less government in business, more business in government
• Andrew Mellon


  appointed as Sec of the Treasury

  - firm believer in free markets and minimal regulation of business
• Fordney-McCumber Act


  1922

  - pushed the tariff up to high levels

  - increased purchasing power of farmers by 3%
• Ohio Gang


  notorious for gambling, drinking and corruption

  - included Harry M. Daugherty, Harding's campaign manager

  - congress appointed special prosecutors to investigate them
• Coolidge's reputation


  'silent cal' - do nothing president
• 1924 Revenue Act


  big cuts in income tax

  - Coolidge big believer in small govt and low taxes
• Mellon Plan


  1924

  - reducing taxes on wealthy and business (trickle down)

  - advocated high tariffs and cuts in government spending
• Coolidge's Son


  died in 1924 from Sepsis

  - Coolidge blamed himself

  - became depressed