Leadership in the 1920s

                  Many blame the Great Depression on the lack of leadership before the disastrous collapse of the American economy. Leading up to the Great Depression, the Republicans were in power and during the 1920s, the American presidents were Harding, Coolidge, and Hoover. Some historians argue that their decisions during their presidencies facilitated that fall of the American economy. While this is partly true, some of the causes for the Great Depression were out of the presidents' jurisdiction.
                  Warren G. Harding became the 29th president in 1921. During his presidential campaign, Harding promised a "return to normalcy", which would move America away from the Progressive Era back to a time of isolationism. Because the American public was exhausted by the war and frustrated at the raise in immigration, the people bought Harding's promise and he was elected president. Harding's term was riddled with allegations of scandals. One of the most famous was the Teapot Dome Scandal, which involved Albert Fall, his secretary. Fall arranged a transfer of oil reserves that freed up some land which was then bought by two business men who loaned Fall half-million dollars. Harding had a disappointing term which ended abruptly when Harding died of a heart attack in 1923.
                   After Harding came his vice president, Calvin Coolidge. Coolidge believed in nonintervention in the economy which meant he was pro-business. During his term, he mainly spent his time lowering taxes and blocking bills passed by Congress. He also supported to isolation from foreign policies. His term was generally uneventful as described by Walter Lippman in 1926, "This active inactivity suits the mood and certain of the needs of the country...It suits all the business interests which want to be let alone."
                  The president during the start of the Depression was Herbert Hoover. Before his presidency, Hoover had some experience with organizing administrations; he was the head of the food administration during World War I. However, he handled the Depression much differently. Times of panic generally called for a strong federal government, but Hoover was reluctant to consolidate the power of the government to intervene in economic issues. Hoover also believed in rugged individualism, which was the idea that the problems of the people would best be solved by the people themselves. Hoover encouraged volunteer services and charities to give aid. This message hurt Hoover's reputation because people thought he'd left the them to suffer. Hoover also made some crucial mistakes during his term. He signed the Hawley-Smoot tariff that raised the prices of imported goods greatly, which in term reduced the American market because foreign nations raised tariffs in retaliation. Although he didn't actually order the dispersion of the Bonus March, people associated the forced removal of veterans from Washington with Hoover. This event exacerbated the situation as Hoover's popularity continued to plummet.
                 The years leading up to the Great Depression witnessed a lack of leadership in the executive branch. While the blame for the Great Depression cannot be fully placed on them, Harding, Coolidge, and Hoover did contribute to the economic fallout. Luckily, Franklin D. Roosevelt, a flamboyant figure, would confront the problem unlike the the trio in the 1920s.

Source:

"Warren G. Harding." The White House. The White House, n.d. Web. 10 Dec. 2015.
"Calvin Coolidge." The White House. The White House, n.d. Web. 10 Dec. 2015.
"Herbert Hoover." History.com. A&E Television Networks, n.d. Web. 10 Dec. 2015.