The Tea Pot Dome Scandal

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President Harding and the Ohio Gang!

President Warren Harding was new from 1919 and had promised a return to normalcy. He has surrounded himself with friends and colleagues from Ohio which was nicknamed the  "Ohio Gang". Many of these feinds used their positions to line thie rown pockets (bribes)

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President Harding and the Ohio Gang!

President Warren Harding was new from 1919 and had promised a return to normalcy. He has surrounded himself with friends and colleagues from Ohio which was nicknamed the  "Ohio Gang". Many of these feinds used their positions to line thie rown pockets (bribes)

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The Tea Pot Dome Scandal Continued!

  • This scandal disgraced Harding and his Government even more. 
  • Albert Fall - Govt. interior Minister - leased oil field to welathy friends in exchange for thousands of dollars of bribes. 
  • The oil fields were meant for the US Navy - so they would always be enough in case of emergencies.
  • Albert Fall began to spread large sums of money and suspicion grew.
  • In April 1922 these details were published in newspapers.
  • Harding stated he had approved them!
  • Oil companies were in outrage - they had not been able to bid for the oil fields.
  • the senate ordered an invesrigation - Harding became ill an contected pneumonia = dying in August 1923.
  • His successor - Calvin Coolidge was able to restore faith in the Govt.
  • Albert Fall was found guilty of bribery and fined $100,000 and spent a year in prison. 
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Great Migration!

  • 1910 - 1930 = many black Americans went North.
  • With some employees fighting in WW1  many companies sent agents South to recruit workers.
  • Taking what little money they had - more than a million African Americans headed for the likes of NY, Chicago, Detroit and other nig cities.
  • Coniditions were not much better - poor housing and poor wages.
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Why USA got rich!

Laissex Faire
- anyone can start ba business - less regulations
low taxes for business

more money for employees (invest in shares)

spend it

create more jobs CYCLE OF PROSPERITY!!!

Advertising
- Sex cells
- Celebrities

Credit
- Paying  for expensive items in monthy installments. Plus interest

Knowledge 
- USA use lots of new technologies PLASTIC - cheap to make! 

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Why USA got rich continued!

Tariffs (tax)

- Govt. places taxes on foreign goods - people bought more US goods.

Speculation (shares)

Hannah buys x1 share £10,000                - Hannah has £1000 - gets £9000 loan (bank + interest) to buy the share 2013 value of share = £13,000 (3K profit) ( bull market) if prices go up

2014 value drops £1000 ( owes bank 9K) = debt collectors homelessness

Laissez faire              Position in the world

Advertising                Assembly line

Credit                       New Consumer goods

Knowledge                Tariffs

                                Speculation

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Why USA got rich continued!

Position in the world 
- Because of where the USA is - make materials cheap! Oil. Iron, Coal, Steel 

Assembly Line  
- Everyone does their own part of a bigger job. i.e the car - simply put wheels on the axel 
- made quicker, made cheaper, sell more = profit!!!!!! 

New Consumer Goods 
- Washing machines  - Tumble Dryers    - Radios     - Fridges

Tariffs (tax)
- Govt. places taxes on foreign goods - people bought more US goods.

Speculation (shares)
Hannah buys x1 share £10,000                - Hannah has £1000 - gets £9000 loan (bank + interest) to buy the share - 2013 value of share = £13,000 (3K profit) ( bull market) if prices go up - 2014 value drops £1000 ( owes bank 9K) = debt collectors homelessness

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Why USA got rich continued!

Laissez faire              Position in the world

Advertising                Assembly line

Credit                       New Consumer goods

Knowledge                Tariffs

                                Speculation

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