Chapter 11 The Twenties 1919 1929 A Booming

Chapter 11; The Twenties 1919 -1929 A Booming Economy CH 11. 1 Pages 324 -329

Bell Ringer! • You have the first 10 minutes of class to answer the following question: • How do you think the car is going to change American culture in the 1920 s?

Post WWI U. S Economy; Grows Mass Production. More Goods in Less Time, Lower Prices Changes in American Life Negative Effects; Debt, Farming Declines Changes in U. S Life: Buy on Credit Eager for new products; attainable Stock on Margin; Boosts Stock & Company Companies Hire More Advertisement

Henry Ford; Automobile Industry Sparks Business Growth of the 1920 s Assembly Line; MASS production Revolutionized Production, Wages, Working Conditions and WEEKENDS!!; How? Model T; $290 Stimulates other businesses; How? Increased Leisure Time & Mobility

Car Brings More Changes in Society; Easy Mobility, American Dream Residential Patterns Change; Suburbs New Cities in the West

Consumer Revolution; Flood of Goods Available to EVERYONE Buying on CREDIT; Installment Payments Electric Appliances; Washing Machines, Vacuum, Iron, Fridge, RADIO Media Contributes; Advertisements Desires V. Needs

Bull Market; Rising Stock Prices Get Rich Quick Buying on Margin; 10% Down payment NYC Skyline Prosperity (Economic Power)

Suburbs Develop Impact Wealthy, Conservative Upper/ Middle Class Away from city Reduced Economic Well Being of Cities Encourage Car Culture

Business of Government pg. 330 -334 Chapter 11. 2

Bell Ringer • What are some changes that occurred in the 1920 s (in America) that didn’t exist before? • How did these changes affect society?

Domestic and Foreign Policy Changes; 1. Return to Isolationism 2. Collect War Debt (Heart-less) President Harding Return to Simpler Times Laissez-Faire Secretary of Treasury; Andrew Mellon Raised High Tariffs, Reduced Spending, Disliked Income Tax Secretary of Commerce; Herbert Hoover Shifted Social Policies from Progressivism to Volunteerism

President Harding; Returns to a “spoils system” not quite intelligent, decision maker, not strong minded, trusted others to make choices Ohio Gang; Greedy, Dishonest Scandals while in office; 1. Charles Forbes (floor cleaner) 2. Harry Daugherty (bribes) 3. Albert Fall Secretary of Interior; Teapot Dome Scandal (1924)

President Harding Dies; V. P Silent Cal takes office (Calvin Coolidge) Honest, quiet, frugal; Trusts in businesses; Virtuous Administration; NOT big on Progressiveness Small Government; No Intervention in Business; No Social Legislation “The man who builds a factory builds a temple – the man who works there, worships there. ” – Calvin Coolidge Reduce National Debt, Lower Taxes Provide Incentives for big businesses.

U. S Role in the World 1. Avoid Another War & 2. Collect War Debt 1. Avoid Arms Race Washington Naval Disarmament 1. Kellogg-Briand Pact “Outlaw War” 2. Dawes Plan