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President Harding/American Economy (Ch. 12, Sec. 2 & 3)1. Scandals Rocked Harding’s Administration2. Automobile & Airplane Changed American
Life3. American Economy Soared During 1920’s
What scandal’s rocked Harding’s presidency at the end?
• Fordney-McCumber Tariff blocked France & Britain from US markets
• Dawes Plan loaned Germany $2.5 Billion to pay France & Britain (so they could pay back US)
• But, his Ohio Gang (his corrupt friends) used their power to gain wealth
• Head of Veteran’s Bureau (Forbes) busted selling government supplies (private company)
• Teapot Dome Scandal saw Sec. of Interior take a $400,000 bribe (leased land-oil reserves)
How did the automobile and the airplane change life in America?
• Cars gave people (families) mobility (urban sprawl, travel, entertainment)
• Construction of paved roads (Route 66) became a necessity & connected America
• Gasoline stations, motels, restaurants (fast food), & shopping centers sprang up
• Airplanes were used to deliver the mail (first used in 1918)
• Airlines soon developed as planes were used for passenger flights (Trans-Atlantic in 1927)
What caused the American economy to soar during the 1920’s?
• The average annual income of US grew by more than 35%
• Electricity caused a revolution in household appliances (convenience)
• Modern advertising targeted people’s desire to be young, beautiful, healthy, & wealthy
• Many people began to buy goods on credit (installment plan)
• Productivity increased & many businesses expanded (mergers, chains)
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