“BOOM AND BUST”
1920-1933
ELECTION OF 1920
• Candidates:
• Issues:
• Outcome:
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• PRESIDENCY OF WARREN G. HARDING
A. Anti-Foreignism
1919-1920 “The Big Red Scare”
1921 Sacco and Vanzetti Trial
Emergence of the “new” Ku Klux Klan
1921 Emergency Quota Act
“The Noble Experiment” Prohibition
– Passage of the Volstead Act
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B. Major Legislation enacted:
1920 Esch-Cummins Act
1920 Merchant Marine Act
Revenue Act 1921 (Mellon Tax Cuts)
1922 Fordney-McCumber Tariff
FOREIGN AFFAIRS
• 1921 Signed separate treaty with Germany. Identical to Treaty of
Versailles without a League of Nations.
• 1921-1922 Washington Naval Conference
• The 5 Power Treaty
• The 4 Power Treaty
• The 9 Power Treaty
• HARDING’S SCANDALS
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1923 The Veteran’s Bureau scandal
The Alien Property Custodian Scandal
Attorney General Daugherty—liquor permits
1921-1929 “Teapot Dome” Scandal
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HARDING’S DEATH
AUG. 2, 1923—Harding died in San Francisco
-had been on a hunting/speech-making trip to Alaska.
-died of ptomaine poisoning (misdiagnosed by doctor)?
-heart attack?
-broken heart?
CHANGES IN AMERICAN SOCIETY
• BLACK NATIONALISM
• “Great Migration” 1915-1920—by 1920 5% of the South’s black population had moved to
the big cities of North. 325,000
• 1920- 1930 another 615,000 to the large industrial cities of the Midwest
• Why? Anti-immigration laws, freer lifestyle.
• “Harlem Renaissance”—Claude McKay, Zora Neal Hurston and Langston Hughes
• “new Negro”—black exclusiveness, black pride—Marcus Garvey
• CULTURE OF MODERNISM
• Science and Social Thought:
• Albert Einstein—Theory of Relativity
• Max Planck—Quantum Theory
• Werner Heisenberg-Thesis—human (scientific) intelligence has limits
• Margaret Mead and Ruth Benedict—Anthropology—cultures are relative.
• Psychology– Sigmund Freud
• Literature:
• Poetry—Ezra Pound, TS Eliot, Gertrude Stein, Carl Sandburg, ee cummings
• Sinclair Lewis, F. Scott Fitzgerald, Ernest Hemingway (Lost Generation)
• Motion Pictures, Radio, Entertainment:
• “Hollywood”—Charlie Chaplin, “The Jazz Singer”, KDKA, Jazz replaced Ragtime,
• Baseball and Boxing, Babe Ruth, Jack Dempsey, Joe Louis
• Crazes: Mahjong, Cross-Word Puzzles, Flag-Pole Sitting and Dance Marathons (The
Charleston), the Model T and Art Deco.
RETURN TO NORMALCY
• “CONSUMER SOCIETY”
• NEW PRODUCTS: cameras, washing machines, cigarette lighters, vacuum
cleaners, wristwatches, refrigerators, cars, radios…
• LASSEZ FAIRE CAPITALISM
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Assembly-line production lowered prices
Carefree consumerism led to impulse buying
Easy credit—Installment loans (GM)
Stock speculation and “buying on margin”
• ADVERTISING
• Convinced Americans “wants” were “needs”.
• Radio, billboard and movie advertising, rise of “Madison Avenue”.
PRESIDENCY OF CALVIN COOLIDGE
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• “Silent Cal” COOLIDGE’S 1ST TERM (1923-1925)
1923—EQUAL RIGHTS AMENDMENT PROPOSED
1924—IMMIGRATION ACT
1924—McNARY-HAUGEN BILL
1924—THE DAWES PLAN
• ELECTION OF 1924
CANDIDATES:
PLATFORMS:
RESULTS:
• COOLIDGE’S 2ND TERM
1924—FEDERAL AID TO BUSINESS
1924—ADJUSTED COMPENSATION ACT
1925—GITLOW V. NY, 1925.
1925—SCOPES “MONKEY TRIAL”
1927—CHARLES LINDBERGH “Spirit of St. Louis”
1927—”THE JAZZ SINGER”
1927—BABE RUTH 60 HRs
1928—PACT OF PARIS “KELLOGG-BRIAND” ACT
1928—A and P Grocery Chain
COOLIDGE CONTINUED
• 1929—THE YOUNG PLAN
• ELECTION OF 1828
– CANDIDATES:
– MAJOR ISSUES:
– VOTE TOTALS
• MAJOR EVENTS OF HOOVER’S PRESIDENCY (1929-1933)
– INAUGURAL ADDRESS
– JUNE 1929 AGRICULTURAL MARKETING ACT
– OCT. 29, 1929—”BLACK TUESDAY” GREAT DEPRESSION BEGINS
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IMMEDIATE CAUSE
FUNDAMENTAL CAUSES
IMMEDIATE RESULTS
ACTIONS TAKEN TO SOLVE THE DEPRESSION BY HOOVER
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THE GREAT DEPRESSION
• ACTIONS TAKEN BY CONGRESS:
• DEPRESSION RELATED EVENTS:
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DEMOCRATS WIN CONGRESS
“HOOVER MORATORIUM”
WICKERSHAM COMMITTEE REPORT
BONUS ARMY MARCH
• MAJOR EVENTS IN FOREIGN AFFAIRS:
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END OF AMERICAN INTERVENTIONIST POLICIES
HOOVERS SEC. OF STATE-- “GOODWILL” TOUR OF LATIN AMERICA
DEPRESSION ENDS “DOLLAR DIPLOMACY”
CLARK MEMORANDUM ISSUED
US WITHDRAWS TROOPS FROM HAITI AND NICARAGUA.
• MANCHURIAN CRISIS:
– 1931—MUKDEN INCIDENT
– CHIANG KAI-SHEK APPEALS TO THE LEAGUE.
– OCT. LEAGUE INVESTIGATES, THEN PASSES A RESOLUTION THAT SETS A WITHDRAWAL DEADLINE-- NOV. 16,
US CALLS FOR JAPAN TO OBEY.
– NOV. 20, LEAGUE FORMS LYTTON COMMITTEE.
– JAN. 1932 JAPAN CAPTURES SW MANCHURIA, US ISSUES HOOVER-STIMSON DOCTRINE.
– FEB. 1932 JAPAN PROCLAIMS THE INDEPENDENCE OF MANCHURIA “MACHUKUO”
– US ANNOUNCES THAT JAPAN HAS VIOLATED THE 9 POWER TREATY WHICH THEREFORE RELEASES ALL
COUNTRIES FROM THE 5 POWER TREATY.
– MAR. 1932 LEAGUE ADOPTS HOOVER-STIMSON DOCTRINE
– SEPT. 1932, LYTTON REPORT PUBLISHED
– MAY 1933, CHINA AND JAPAN SIGN TANGKU TRUCE.
JAN 30, 1933—ADOLPH HITLER ELECTED CHANCELLOR OF GERMANY.