The 1920’s and the Great Depression (1920-1940)
Post-War America
A. Majority of US was sick and tired of War.
B. Many had family dead, wounded, crippled, etc.
C. The League of Nations divided the US
D. The Progressive Era influenced many drastic changes.
E. Desired a return to “normalcy” – Pres. Harding.
“Normalcy”
1. Renew “isolationism” regarding world affairs.
2. A resurgence of “nativism”
3. Lean toward political conservatism
Communism – (p.430)
Russian Revolution and Effects in US
A. 1917 – Overthrow of Czar Nicholas, Bolsheviks seize power.
B. Overthrow the capitalistic system and abolition of the free enterprise
system and the ownership of private property.
C. Red Scare in US – Bolsheviks call for an international revolution.
D. 70,000 Americans join the Communist Party in US.
E. Bombs were being sent to govt and business leaders…sound
familiar??????
F. Atty Gen. Palmer – appointed J. Edgar Hoover to hunt down commies
G. Palmer Raids –
H. Anarchists –
Sacco and Vanzetti –
Rise of the KKK –
U.M.W. and John L. Lewis –
Harding
A. Harding/Coolidge defeated Cox/FDR in 1920, a landslide win.
B. Pursued an isolationist policy
C. Led 64 nations to sign an anti-war pact….how could they do it?
D. US was still owed $10B from GB&FR and wanted it….
E. GB&FR demanded reparation payments from GER
Limiting Immigration p. 438
A. nativism –
B. Emergency Quota Act of 1921 –
C. Gentlemen’s Agreement with Japan –
Business in America (p.441)
A. Automobile was #1, the backbone of US economy
B. “The business of America is business”
C. urban sprawl –
D. Airplane industry begins, mail then passengers
E. Electronic appliances + advertising = consumer economy
F. Purchasing on credit –
1920’s America (p. 453)
A. rise of major urban centers, NYC, Chicago, nightlife, fast lane.
B. Prohibition – p. 455
C. Speakeasies –
D. Rise of organized crime, Al Capone, Murder, Inc.
E. Scopes Monkey Trial – p.456
F. Flapper/double standard G. Flagpole sitting H. Media, newspapers, radio comes to huge audiences, (FDR/JFK)
I. Sports heroes emerge – B. Ruth, Red Grange, Jack Dempsey
J. Charles Lindbergh –
K. F. Scott Fitzgerald/E. Hemingway – Lost Generation, expatriates.
L. Harlem Renaissance – p.470 – writers, activists, Jazz.
Great Depression (p. 480)
A. US businesses flourished in wartime but demands dropped in
peacetime.
B. Int’l competition hurts US businesses.
C. New means of transportation hurt RR, new fuels hurt coal and oil.
D. During WW I food was in high demand, so farmers grew more.
E. prices were high but in peacetime, prices drop, income drops.
F. As incomes fell, people bought less or purchased on credit.
G. 1920 - $1,500/yr decent living. This was ½ of USA
H. inequity of income – 90% of wealth owned by 13% of pop.
I. but you could buy stock “on the margin”…10% down…
Great Crash of 1929 (p.485)
A. “bull market” – a period of rising stock prices
B. everyone wanted to get rich “in the market”
C. In 1929 4M Americans (3%) owned stock
D. Speculation – buy stocks unrestricted on paper, no $ changes hands
E. Black Tuesday – 29 OCT 1929 = $30,000,000,000 lost in two days
F. Everyone tried to withdraw their $, 5,000 banks collapsed.
G. Unemployment = 3% in 1929 rose to 25% in 1933
H. Hawley-Smoot Tariff Act – (p. 489)
Impact of Depression (p. 490)
A. shantytowns (“Hoovervilles”) –
B. The Dust Bowl –
C. MenD. Women –
E. Children –
F. On African-Americans Hoover
A. couldn’t see the big picture, no insight into the magnitude.
B. Cautious and slow in his attempts to solve the problem. Boulder Dam
C. Bonus Army – p. 498, Hoover orders them evicted.
D. Who drove them out?
E. Teargas, burn camps, 2 vets shot dead, 11 mon. old, baby dead, 11 yr.
old boy blinded.
The New Deal (p. 502/515)
A. FDR wins in 1932, change, the first 100 days. “Alphabet Soup”
B. Fireside chat –
C. Fed. Securities Act –
D. AAAE. CCCF. NIRAG. WPA – p. 513
H. NYA –
I. S. Court began striking down New Deal programs as unconstitutional
J. FDR tried to add 6 more judges – “court packing”
K. Eleanor Roosevelt – p. 511
L. Second New Deal 1936 –
Major Issues of the Era
A. Scotsboro Boys – p. 519
B. C.I.O. – p. 521
C. 1939 movies – GWTW, OZ, Grapes of Wrath, etc.
D. By 1930 the New Deal was over, did it work? (p. 530)
Effects of the New Deal
A. Social Security –
B. Increase govt/Presidential role in economy
C. Improved labor rights, NLRB –
D. SEC/FDIC –
E. TVA – (p. 532-535)