The Twenties :: essays research papers

Area One-Politics and Govern man indext-The Harding Scandals and the Bonus Bill vetoThe presidency of Harding was filled with continuous scandal. Many compare the Harding to concession has both being postwar presidents marked by scandals and corruption. Having appointed several excellent officials, Harding also appointed a number of incompetent and dishonest men to fill important positions, including the Secretary of Interior, Albert B. Fall and attorney General Harry M. Daugherty.The Secretary of Interior, Albert B. Fall, in 1921, secured the transfer of several naval oil reserves to his jurisdiction. In 1922, Fall secretly leased reserves at Teapot Dome in Wyoming to Harry F. Sinclair of Monmouth Oil and at Elk Hills in California to Edward Doheny of Pan-American Petroleum. A Senate probe later revealed that Sinclair had given Fall $305,000 in cash and bonds and a herd of cattle, while Doheny had given him a $100,000 unsecured loans. Sinclair and Doheny were acquitted in 1927 of charges of defrauding the government, but in 1929 Fall was convicted, fined, and imprisoned for bribery.Another scandal involved Charles R. Forbes, appointed by Harding to head the new Veterans Bureau. He seemed energetic and efficient in operating the new hospitals and services for veterans. It was later estimated that he had stolen or squandered about $250 million in Bureau funds.Scandal also tainted Attorney General Daugherty who, through his intimate friend Jessie Smith, took bribes from bootleggers, income tax evaders, and others in return for protection from prosecution. When the scandal became to come to light, Smith committed suicide in Daughertys Washington apartment in May 1923. There was also evidence that Daugherty received money for using his influence in returning the American surface Company, seized by the government during the war, to its German owners.Area Two-Economics-Prosperity and InnovationThough overall the economy was strong between 1922 and 1929, certain s egments of the economy, especially agriculture, did not share in the nations general prosperity. Improved industrial efficiency, which resulted in lower prices for goods, was primarily responsible. Manufacturing output increased about 65%, and productivity, or output per arcminute increased by about 45%. The numbers of industrial workers actually decreased from 9 million to 8.8 million during the decade. The increased productivity resulted from improved machinery, which in turn came about for several reasons. Industry changed from steam to electric power, allowing the design of more intricate machines and replaced the work of human hands. By 1929, 70% of industrial power came from electricity.