Warren G. Harding became the twenty-ninth President of the United States on March 4, 1921.
Teapot Dome Scandal
In May of 1921, President Harding signed an executive order transferring certain oil reserves from the jurisdiction of the Department of the Navy to the Department of the Interior. Harding's Secretary of the Interior, Albert Fall, was later found guilty of receiving bribes and leasing the federal oil reserves at Teapot Dome, Wyoming, and Elk Hills, California to private companies. Also implicated in the scandal were Attorney General Harry M. Daughrety, Secretary of the Navy Edwin Denby, and Charles Forbes of the Veteran's Bureau. Albert Fall, however, was the only government official who was fined and imprisoned for his involvement in the scandal, the bulk of which came to light after President Harding's death in 1923.
Sacco and Vanzetti Trial
On April 15, 1920 two gunmen robbed a shoe factory in South Braintree, Massachusetts, killing the paymaster and a guard in the process. Bartolomeo Vanzetti and Nicola Sacco, two Italian immigrants known to the Justice Department for their anarchist beliefs, were charged with the crime. In spite of the prosecution's inability to provide the jury with proof of the two men's guilt, Sacco and Vanzetti were convicted and sentenced to death on July 14, 1921.
Washington Disarmament Conference
The Washington Disarmament Conference convened in November of 1921. The conference, which was headed by Secretary of State Charles E. Hughes, was attended by delegates from Great Britain, France, Japan, Italy, and Germany. The Conference resulted in the signing of a number of arms reduction treaties between the major world powers.
Corruption in Harding Administration Made Public
In May of 1923 an investigation into governmental corruption by the Department of Justice resulted in the suicide of Jesse W. Smith, a political ally of Attorney General Harry M. Daughrety (leader of President Harding's "Ohio Gang"). Also in 1923, an investigation into corruption within the Veteran's Bureau resulted in the suicide of Charles F. Cramer, the Bureau's legal advisor, and the imprisonment of Charles R. Forbes, the Bureau's director.
President Harding Dies
In June of 1923 President Harding embarked on a speaking tour of the country to combat his slumping popularity and to escape rumors of corruption. While speaking in Seattle, President Harding fell ill. He was diagnosed with minor indigestion and recovered to continue his tour to San Francisco. Shortly after arriving in San Francisco, President Warren G. Harding died unexpectedly. Doctors suspected that a blood clot was responsible for the President's death, but Mrs. Harding refused to allow an autopsy, so the cause of death is not known. Mrs. Harding also burned all of her husband's correspondences, and so the extent of President Harding's knowledge/involvement in the scandals revealed after his death is not known.
Legislation
Treaty with Central Powers
Since the United States had not signed the Treaty of Versailles, the Harding Administration's first order of business was to organize a peace with Germany, Austria, and Hungary. A treaty with the Central Powers was signed on July 2, 1921.
Five-Power Treaty
One of the resulting treaties of the Washington Disarmament Conference was the Five Power Treaty. Under this treaty the United States, Great Britain, France, Italy, and Japan agreed to stop the construction of battleships for a period of ten years. The treaty also limited the amount of naval power each nation could possess. Under this part of the treaty the United States and Great Britain were limited to 525,000 tons, Japan to 315,000 tons, and Italy and France to 175,000 tons.
Four-Power Treaty
Signed by the United States, Great Britain, Japan, and France at the Washington Disarmament Conference, the Four Power Treaty was an agreement to settle disputes over territory in the Pacific by conference.
Nine-Power Treaty
Signed at the Washington Disarmament Conference by all in attendance, the Nine-Power Treaty was an agreement to respect China's independence, and to uphold the United States' Open Door Policy in regards to China.
Budget and Accounting Act
Congress passed Treasury Secretary Andrew Mellon's Budget and Accounting Act in 1921. The act provided for a director of the budget whose job it would be to create a unified federal budget, the new director was given power to oversee the budgets of all government agencies.
Revenue Act
Passed by Congress in 1921, the Revenue Act abolished the excess-profits tax and cut overall income tax rates.
Fordney-McCumber Act
Passed by Congress in 1922, the Fordney-McCumber Act raised tariff rates to what they had been before the Wilson Administration.
