The Harding administration Dissertation Example

Free The Harding administration Dissertation Example

Student’s Name Professor’s Name Course Date of Submission Exam 2 Questions 1. What were three scandals of the Harding Administration? In your answer, include the people who were involved in these scandals including their cabinet positions. The Harding administration was faced with many scandals. The Teapot Dome Scandal was one of the worst scandals where the secretary of the interior, Albert Fall leased a Naval petroleum reserve in Wyoming to private benefits in exchange for numerous secret bribes. The other scandal involved veterans Bureau director Charles Forbes, who misused around $250 million which was public money. He also received bribes for entitling contracts, labeling land purchases and for vending surplus materials lower than the market price. The other scandal involved Harry Daugherty, who was the Attorney general. He was accused of taking bribes from businesspeople, bootleggers and many others, but he was not jailed as the hung jury failed to convict him. 2. Why did the stock market crash on October 29, 1929? The 1929 stock market crash was caused by a decline in production, a rise in unemployment, which caused the stock to be in massive excess of their real value. Additionally, the agricultural sector was struggling, and people had substantial bank loans that could not be paid. Low wages caused the eventual market collapse. This resulted in the decline in stock prices which caused a lot of panics and on October 24, a black Thursday, 12,894,650 shares were traded. The stock prices collapsed totally on October 29th when about 16,410,030 shares were transacted (Grant 67). 3. Discuss the steps taken during Herbert Hoovers administration to combat the great depression He struck a deal with democratic congress as well as a nominally republican senate to stabilize the federal budget, ensure capital becomes accessible to farmers and home builders at a reduced rate and make money stuck in closed banks available. Hoover’s administration...