Sunday, October 30, 2011

Big Businesses

Warren G. Harding was an important person because he tried to restore the political interests in America after WWI. He invited many world leaders to a conference in 1921 called the Washington Naval Conference. Russia was not invited because they were communist. The conference talked about how no more warships should be built for ten years because these countries did not want to start another war with Germany. 


These countries signed the Kellogg- Briand pact, which was a contract to not start another war with any other country.


His cabinet members were called “The Ohio Gang,” because they were all from Ohio. They would later cause a huge problem.  


The Teapot Dome scandal- in 1923. Secretary of Interior Albert B. Fall secretly leased oil-rich land to sell to these private companies in return for land and money. Later, he received more than 400,000 dollars. Then, he was found guilty of bribery and was sentenced to jail. 



After the scandal, Warren G. Harding passed away of a heart attack in 1923. Then, 
Calvin Coolidge took over as president. He restored economic opportunities and believed that taxes should be reduced in the U.S. He also believed that big businesses should receive credit in order to expand in the U.S.






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