-harding signaled the economic direction of his administration by naming wealthy banker andrew mellon secretary of the tresury. mellons idea pf prudent economic policy was to support legistlation that advanced business interests.
-harding signed a bill raising protective tariff rates by about 25 percent.
-still, the hardding legislation did not abandion social goals. harding thoughtful and energetic secretary of commerce, herbert hoover, worked with business and labor leaders to achieve voluntary advancements.
-charles forbes, head of the veterans bereau, practiced graft on an immense scale and wasted hundreds of millions of taxpayer dollars.
-the worst scandal involved secretary of the interior albert fall. in 1921, fall aranged to transfer oil reserves in elk hills, california, and teapot dome, wyoming, from the navy department.
-harding himself never saw the full extent of the teapot dome scandal. in fact, he only had a growing suspision thatr his friends were up to no good.
-news of hardings death reached vice president calvin coolige during a visit to his fathers vermont farm.
-coolage admired productive business leaders. the man who builds the factory builds a template that he believed that the creation of wealth benefitted the nation as a whole.
-in his approch to the economy, collige continued to follow the goals of secretart of the treasury mellon by reducing thenational debt, trimming the federal budget.
-this washington naval disarmament conference did not end the worlds naval problems, but it raised hopes that nations could solve arguements without resorting to war.
-a later attempt to prevent war was the kellogg-briade pact of 1928, whic secretary of state frank b kellogg and french foreign minister aristide briand drew up a treaty to "outlaw war as an instrument of national policy.
-in 1924, an aggreement known as the dawes plan arranged US loans to getmany.
-in the end, the war-debt... [continues]
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