the roaring twenties
DESCRIPTION
Rundown of the good times before the crashTRANSCRIPT
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The The Roaring Roaring TwentieTwentie
ss
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World War One was a shocking experience for the country
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• After seeing the horrors of a European war, most Americans wanted to return to the isolationism Washington spoke of in his farewell address.
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Wilson & Democrats rejected!
• Senate refused to sign Treaty of Versailles
• Senate refused to join League of Nations
• Voters elect Republican Warren Gamaliel Harding
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“Back to ‘Normalcy’”
Harding wanted America to return to life and work without a war to fight or sacrifice for…”normality”
Harding was extremely pro-business
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Post war ProblemsPost war Problems Recession: Factories stopped making war Recession: Factories stopped making war
supplies and 2 million soldiers came supplies and 2 million soldiers came home from Europe looking for work.home from Europe looking for work.
Closed factoriesClosed factories
++ High UnemploymentHigh Unemployment
==
Recession (no one wants to buy Recession (no one wants to buy anything)anything)
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Post war Problems• Corruption & Scandals!• Harding was yet another president
who appointed his buddies to important government jobs
• Charles Forbes head of the Veterans Bureau, convicted of stealing MILLIONS from that bureau – that’s right, he was stealing money from veterans right after a WAR
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Corruption & Scandals
• Albert Fall, Secretary of the interior leased government land in CA & WY for oil companies to drill on
• Teapot Dome Scandal
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Scandals & Betrayals lead to Heart Attack!
• Harding dies in office 1923.
• Vice President Calvin Coolidge takes over as President
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““Silent Cal” CoolidgeSilent Cal” Coolidge
The business of America is
business.
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The Coolidge Administration• Coolidge VERY pro-business• He cut regulations on businesses• Coolidge appointed business leaders
to head government agenciesHypothetical Example: the owner of
the biggest slaughterhouses in the US being put in charge of the USDA
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Coolidge Economy• By 1923, Factories switched from
making weapons to making consumer goods
• more people had $ from jobs in factories, those people started buying goods, demand went up so factories hired more people, those people started buying goods, factories hired more people, and on and on…
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Automobiles Spur Industry
Car Body
Tires Windshield Power Assembly
How many How many different jobs different jobs can you come can you come up with?up with?
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• The boom of the 1920’s was called “Coolidge Prosperity”
• More and more Americans were buying consumer goods
• More and more Americans were using CREDIT to buy these goods
• Stock prices continued to rise
Economic Boom!
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Bull Market• When the stock
market goes through a period of increased trading & rising stock prices, it is known as a Bull Market
• The opposite is known as a Bear Market
• Bull Market = good • Bear Market = bad
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Headed for Disaster
• Many investors were borrowing $ to buy stocks (buying on margin)
• Stocks became overvalued (not worth the $ that people bought them for)
• Many consumers were borrowing $ to buy consumer goods (buying on credit)
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Foreign Policy in the 1920’s
• Isolationism (Europe): United States still refused to join League of Nations
• Interventionism (Latin America): 1926 Marines sent to Nicaragua to oversee elections. 1927 US diplomats convince Mexico not to take over foreign owned oil & mining companies
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The Soviet Union• Americans did not support
communism in the Soviet Union (Russia)
• Communism is an economic system where all wealth & property are owned by the community
• Despite dislike of communism, Americans sent tons of food to Soviet Union, saving millions of lives
• Fear of communists (The Red Scare) will soon grip USA
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Visualize Whirled Peas
• 1928 – United States & 61 other nations sign Kellog-Briand Pact
• The pact outlawed war• There was no way to enforce the
pact• It will soon fail
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Homework
•724-729
•Question 5 (a & b)
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1920’s Culture• Lots of crazy fads;
– Flagpole sitting
– The Charleston
– Flappers
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Jazz
• Jazz music became very popular during the 1920’s
• It was a blend of the blues and European classical music (Ragtime)
• At the time jazz was considered a bad influence on young people
• An original art form created by African Americans
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Louis Armstrong• Jazz Ambassador; trumpet/coronet
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Bessie Smith• One of the greatest Jazz/Blues singers of all time
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Duke Ellington• Composer, pianist, bandleader
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Writers
• Ernest “Papa” Hemmingway
• Wrote of his wartime experiences as ambulance driver in Europe
• Powerful writer of short, declarative sentences
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F. Scott Fitzgerald
• Wrote The Great Gatsby
• Novel about wealthy partiers unable to find happiness
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Langston Hughes• Poet & author
– The younger Negro artists who create now intend to express our individual dark-skinned selves without fear or shame. If white people are pleased we are glad. If they are not, it doesn't matter. We know we are beautiful. And ugly, too.
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Zora Neal Hurston
• Writer who traveled through the South collecting African American folktales
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Heroes
• George Herman “Babe” Ruth
• Orphan from Baltimore
• Pitcher & power-hitter for the New York Yankees
• Hit 60 Home Runs in one season
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Charles “Lucky” Lindbergh
• 1st solo transatlantic flight
• Plane called “The Spirit of St. Louis”
• Later became vocal supporter of Hitler and the Nazis
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Red Scare
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The Soviet Union was successful!
• A worker-based communist government had been created and was thriving
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Communism demands an international worker revolution
“Workers of all countries unite, you have nothing to lose but
your chains.” Karl Marx
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Our 1st Question:
• At the time (1920’s) was this international revolution a threat to the US government?
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How would you describe the Harding & Coolidge
Administrations?
• Pro-business generally means anti-labor
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Were the Republican administrations of the 1920’s anti-
labor?
• During WWI, the War Industries Board was generally pro-labor.
• After the war, workers wanted higher wages
• Management said “NO!”
• What do workers do when they don’t like the way they’re being treated?
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Were the Republican administrations of the 1920’s anti-labor?
• Strikes were broken using the police and private detectives (Pinkertons)
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Bad times for working people
• Few strikes were successful
• Many workers badly beaten
• Company Unions formed
• Union membership declines significantly
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How do workers feel about the government?
• Their wages have not gone up
• Their strikes have been violently attacked
• The government has not helped them at all
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Birth of the Red Scare
• If American workers are unhappy, what might they do?
• What kind of people might influence them to do that?
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Foreign Radicals!Foreign Radicals!
• Fear of foreign radicals leads to unfair Fear of foreign radicals leads to unfair trial & execution of Sacco & Vanzettitrial & execution of Sacco & Vanzetti
• Fear of foreign radicals leads to Fear of foreign radicals leads to resurgence of the KKKresurgence of the KKK
• Fear of foreign radicals leads to Fear of foreign radicals leads to Quota Quota SystemSystem (limits on immigration) (limits on immigration)
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Final Question
• What are two events that contributed to the Red Scare?