The Roaring 20s An era of prosperity Republican
The Roaring 20’s An era of prosperity, Republican power, and conflict
Warren G. Harding (1921 -1923)
The Harding Presidency Foreign *isolationism, avoiding Policy political or economic alliances with foreign countries.
Domestic Issues • Normalcy - Harding’s campaign promised a return to pre- WWI peacefulness • Red Scare - American’s fear of communism and other extreme ideas
Examples of Issues Related to the Red Scare or Fear of Communism (the style of government that was now running the Soviet Union)
Communism • When the government owns property and the means of production (farms, businesses, and factories) • All citizens SHARE the wealth – no private property or rich and poor.
More Domestic Issues • Nativism- a movement favoring native-born Americans over immigrants. • Immigration quota- restrict or ban immigrants from certain countries. • Racial tensions. . .
REBIRTH OF THE Ku Klux Klan • Started in 1866 in South • Experienced it’s greatest growth and popularity after WWI • Three million members mostly in Indiana, Oklahoma, and deep South
KEY CHANGE! • Not just racial anymore…. nationality, political beliefs, religion, etc. • Many members were small-business owners, independent professionals, clerical workers, and farmers.
African Americans on the Move
Great Migration • Blacks moved north to take advantage of booming wartime industry (= Great Migration) - Black ghettoes began to form, i. e. Harlem within these ghettoes a distinct Black culture flourished
The Jazz Age (2 nd name for the 1920 s) • Jazz, a style of music that grew out of the African American music of the South, became highly popular during the 1920 s. SECTION 13
Harding dies suddenly (and mysteriously) while still in office and Coolidge becomes president. “Silent Cal” Calvin Coolidge 1923 -1929
Coolidge’s Foreign Policy • Continued Isolationism
Domestic Policy • Laissez Faire- Hands Off!! Government should not interfere with the growth of business
President Coolidge ‘s Philosophy § “The business of America is business. ” § High Tariffs!!!! (cost of living goes up, up!) § No help for farmers
New Freedom for Women - Reminder • The Nineteenth Amendment (1920) • Young women moving into various jobs in greater numbers.
Women in 1900 • Long hair • Long sleeves • Long dresses • Shapely corset
Women in 1920 s • Short hair • Short sleeves • Short dresses • No corsets!
Women’s Changing Roles The Flapper Image A type of bold, funloving young woman, who came to symbolize a revolution in manners and morals that took place in the 1920 s.
Flappers • Flappers challenged conventions of dress, hairstyle, and behavior. • Many Americans disapproved of flappers’ free manners as well as the departure from traditional morals that they represented.
American Heroes • Sports Heroes • Champions in wrestling, football, baseball, boxing and swimming became American heroes. • The most famous was baseball’s George Herman “Babe” Ruth, whose record number of home runs remained unbroken for 40 years.
American Heroes • Charles Lindbergh • As the first to fly nonstop from New York to Paris, • Hailed as an American hero and a champion of traditional values.
American Heroes Amelia Earhart • Amelia Earhart set records as the first woman to fly solo across the Atlantic and the first person to fly solo from Hawaii to California. • She and her navigator mysteriously disappeared while attempting to fly around the world in 1937.
The Mass Media Helps Form Culture • The popularity of motion pictures grew throughout the 1920 s; “talkies, ” or movies with sound, were introduced in 1927.
• In 1928, Walt Disney released the first cartoon, “Steamboat Willie”
The Mass Media Grows! • Newspapers grew in both size and circulation. • Between 1923 and 1930, 60 percent of American families purchased radios
Wrapping up the Twenties From the Highest of Highs to the Lowest of Lows
Prohibition • The Eighteenth Amendment to the Constitution, which took effect on January 16, 1920, made the manufacture, sale, and transport of liquor, beer, and wine illegal. SECTION 30
Prohibition • Many Americans turned to bootleggers, or suppliers of illegal alcohol. • Bars that operated illegally, known as speakeasies, were either disguised as legitimate businesses or hidden in some way, often behind heavy gates.
Organized Crime • The tremendous profit resulting from the sale of illegal liquor helped lead to the rise of organized crime. SECTION 32
Homicide Rate dramatically rises, then peak in 1933 – the year prohibition ends!
Consumerism
A Car for the Masses • Ford Model T • First built by Henry Ford in 1908, the Model-T popularized the use of automobiles by offering them at an affordable price • Only $290 by 1924
Tin Lizzy Ford could keep costs down because the cars were the first to be built on a moving assembly line, which revolutionized U. S. car building. Powered by a four-cylinder engine, the car could hit speeds of up to 45 miles an hour, and got an impressive 25 to 30 miles per gallon.
The Great Depression The Crash!
Herbert Hoover Quote: "Prosperity is just around the corner. " (1932) l Claim to Fame: As president, Hoover opposed giving federal welfare payments to the unemployed, who numbered over 12 million by the end of his one-term administration. The shantytowns of the era were dubbed "Hoovervilles. " l Postscript: Lost the 1932 presidential election to Franklin Delano Roosevelt, 472 electoral votes to 59. l
The Reality of 1920 s By 1929, our false sense of prosperity was becoming apparent l Farmers were defaulting on loans l Banks were closing l Postwar Europe no longer needed our steel, lumber, etc l The rich seemed to be getting richer, the poor were getting poorer l Easy credit was putting many families in debt l
The Stock Market The profit making ability of a company helps to determine how much a stock costs Many people make money by buying a stock at a low price and then reselling at a high price (speculation) You may pay $10 for a stock this week but sell it next week for $50
l l l Stocks are ownership in a company Stocks are divided into shares All the shares make up all the ownership in the company If you had a company divided into 100 shares and you owned fifty shares, you would own half the voting rights (decision making power) in that company A share entitles you to a percentage of the profit earned by the company Your are paid “dividends” on a regular basis
The Stock Market l Millions of people “played” or speculated in the stock market with hopes of quick riches! l Stocks could be bought on margin (credit), increasing the false sense of wealth.
Uh-Oh… l By the end of the 1920 s, stock prices as a whole had risen dramatically n. Unfortunately, this only encouraged more people to put their savings into stocks On October 24, 1929 stock prices began to fall and brokers began to sell. n. By noon, millions of shares had been sold. The selling frenzy continued all afternoon. By closing, 13 million shares had been traded and the market dropped four billion dollars. n. Many banks and businesses were forced to close. n n …But the worst was yet to come!
Black Tuesday On October 29, later nicknamed "Black Tuesday, " the stock market crashed! l Investors panicked as prices fell, A frenzy of selling drove prices down until many were worthless l People who had invested their entire life savings during the boom were now bankrupt l On that day, over 16 million shares of stock were sold and the market fell over 14 billion dollars.
Impact The banks who had lent heavily to fund share buying found themselves saddled with debt, which caused many banks to fail. While millions of people lost their savings, businesses lost their credit lines and were forced to close, causing massive unemployment.
Aftermath Ripples from this collapse affected all aspects of society in the U. S. and throughout the world l Within months, millions were without work l The new president, Herbert Hoover had the task of fixing the broken economy l
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