1920’s and 1930’s Decades in Contrast Warren G. Harding Twenty-Ninth President Warren G. Harding won the Presidential election by a 60 percent of the popular vote. Word began to reach the President that some of his friends were using their official positions for their own benefits. When warren found out about this he took action as soon as possible, he started an investigation. He did not live to find out how the public would react to …showed first 75 words of 1228 total…

…showed last 75 words of 1228 total…famous as the bust. At the time of the Great Depression, America had a 100% gold standard for its money. This meant that all cash was backed by a government promise to redeem it in a specific amount of gold. Because the amount of money circulating in the economy is wholly dependent on the amount of gold available, the money supply is very rigid. If people start to hoard money, the money supply can drop drastically.