U.S. History Core 100, Goal 9 Prosperity and Depression (1919-1939) - The learner will appraise the economic, social, and political changes of the decades.

U.S. History Core U.S. History Core 100, Goal 9100, Goal 9

Prosperity and Depression (1919-Prosperity and Depression (1919-1939) - The learner will appraise 1939) - The learner will appraise the economic, social, and political the economic, social, and political

changes of the decades of "The changes of the decades of "The Twenties" and "The Thirties." Twenties" and "The Thirties."

Warren G. Harding Warren G. Harding (1921-1923)(1921-1923)Legacy of ScandalsLegacy of ScandalsDies in OfficeDies in Office

Calvin Coolidge Calvin Coolidge (1923 – 1929)(1923 – 1929)Laissez-FaireLaissez-FaireRestore businessesRestore businesses

Herbert Hoover Herbert Hoover (1929 – 1933)(1929 – 1933)Stock Market Stock Market CrashCrashDepression Depression BeginsBegins

Rugged Rugged IndividualismIndividualismVolunteerismVolunteerism

Little gov’t interference in the Little gov’t interference in the economyeconomy

Coolidge believed in this for the Coolidge believed in this for the economy to be prosperouseconomy to be prosperous

Andrew Mellon (Secretary of Andrew Mellon (Secretary of Treasury)Treasury)

In the 1920s, Americans became In the 1920s, Americans became consumers…consumers…

CarsCars Home AppliancesHome Appliances RadiosRadios ElectricityElectricity

Linked products with Linked products with qualities associated qualities associated with the modern erawith the modern era, , such as progress, such as progress, convenience, leisure, convenience, leisure, success, and stylesuccess, and style

Preyed on consumers’ Preyed on consumers’ fears and anxietiesfears and anxieties

Advertising encouraged Advertising encouraged many Americans to many Americans to consumer more!!consumer more!!

Used WomenUsed Women Power of MoneyPower of Money

Farmers experienced an agri-Farmers experienced an agri-depression in the 1920s, depression in the 1920s, before the Great Depressionbefore the Great Depression

Efficiency increased…(more Efficiency increased…(more food = lower prices) and food = lower prices) and fewer workers neededfewer workers needed

Farmers made 1/3 the income Farmers made 1/3 the income of an industrial workerof an industrial worker

Overproduction b/c of new Overproduction b/c of new machinerymachinery More ProductionMore Production More DebtMore Debt

Credit:Credit: borrowing money borrowing money In the 1920s, credit became easier and more popular In the 1920s, credit became easier and more popular

among the American publicamong the American public Buying of Margin:Buying of Margin: Paying a small percentage Paying a small percentage

down and borrowing the rest in order to buy down and borrowing the rest in order to buy stocksstocks

SpeculationSpeculation: act of buying stocks at great risk : act of buying stocks at great risk with the anticipation that the price will risewith the anticipation that the price will rise Investors betted that the market would continue to Investors betted that the market would continue to

climb, enabling them to sell the stock and make climb, enabling them to sell the stock and make money quicklymoney quickly

One of the reasons for the Great DepressionOne of the reasons for the Great Depression

African American African American movement in the movement in the 1920s that promoted 1920s that promoted literature, drama, literature, drama, visual arts, and dancevisual arts, and dance

Started in the Harlem Started in the Harlem neighborhood of NYCneighborhood of NYC

Because of the Great Because of the Great MigrationMigration

Marcus GarveyMarcus Garvey: Back to Africa : Back to Africa Movement, Black Nationalism, Movement, Black Nationalism, Universal Negro Improvement Universal Negro Improvement Association (UNIA)Association (UNIA)

Zora Neale Hurston:Zora Neale Hurston: Author, Author, Their Their Eyes Were Watching GodEyes Were Watching God

Langston Hughes:Langston Hughes: Poet Poet Louis Armstrong:Louis Armstrong: Jazz musician Jazz musician

Religious movement in the 1920sReligious movement in the 1920s Common in Common in rural areasrural areas in the U.S. in the U.S. Beliefs:Beliefs:

Bible is literally trueBible is literally true with no errors with no errors Rejected Darwin’s theory of evolution; only Rejected Darwin’s theory of evolution; only

believed in creationismbelieved in creationism Billy Sunday and Aimee Semple Billy Sunday and Aimee Semple

McPherson – popular preachers of McPherson – popular preachers of fundamentalismfundamentalism

Led some states to pass laws against the Led some states to pass laws against the teaching of evolutionteaching of evolution

1925: Tennessee outlawed teaching 1925: Tennessee outlawed teaching anything other than creationismanything other than creationism

John T. Scopes, high school biology John T. Scopes, high school biology teacher, arrested and put on trialteacher, arrested and put on trial

Found guilty and fined $100Found guilty and fined $100 Science vs. CreationScience vs. Creation

F. Scott Fitzgerald:F. Scott Fitzgerald: The Great The Great GatsbyGatsby

Ernest Hemmingway:Ernest Hemmingway: The Old Man The Old Man and the Seaand the Sea (many others) (many others)

Sinclair LewisSinclair Lewis

The “Lost” Generation: American The “Lost” Generation: American authors who wrote in the 1920sauthors who wrote in the 1920s

Information and Information and entertainment available in entertainment available in most American householdsmost American households

Radio:Radio: 1920s = the Golden 1920s = the Golden Age of the RadioAge of the Radio

Motion Pictures:Motion Pictures: The first The first talking film = talking film = The Jazz The Jazz SingerSinger Actors: Charlie Chaplin, Actors: Charlie Chaplin,

Mary PickfordMary Pickford EntertainmentEntertainment

Charles Lindberg: American Hero Charles Lindberg: American Hero for flying solo across the Atlantic for flying solo across the Atlantic OcreanOcrean

SportsSports Babe Ruth (Baseball)Babe Ruth (Baseball) Ty Cobb (Baseball)Ty Cobb (Baseball) Jack Dempsey (Boxing)Jack Dempsey (Boxing)

The manufacturing and selling of The manufacturing and selling of alcohol is illegalalcohol is illegal Bootlegging (illegal manufacturing and Bootlegging (illegal manufacturing and

distribution of alcohol)distribution of alcohol) Speakeasy (illegal bars were one could Speakeasy (illegal bars were one could

buy alcohol)buy alcohol) Organized crime increasedOrganized crime increased Al Capone (Crime boss in Chicago)Al Capone (Crime boss in Chicago)

Women gained the right to vote with the passing of the 19Women gained the right to vote with the passing of the 19thth Amendment in 1920Amendment in 1920

The New Woman:The New Woman: Short hairShort hair Short skirtsShort skirts Short sleevesShort sleeves Rolled stockingsRolled stockings High heelsHigh heels Smoked and drank alcohol in publicSmoked and drank alcohol in public Wore makeupWore makeup

““Flapper:”Flapper:” young woman in the 1920s young woman in the 1920s

Margaret Sanger:Margaret Sanger: Birth Control; Planned Birth Control; PlannedParenthoodParenthood

Long Term:Long Term: Overproduction in Overproduction in

the 1920sthe 1920s Under consumptionUnder consumption Uneven distribution Uneven distribution

of wealthof wealth Low interest ratesLow interest rates Easy Credit; buying Easy Credit; buying

on marginon margin

Immediate:Immediate: High tariffs (Hawley-High tariffs (Hawley-

Smoot)Smoot) People and businesses People and businesses

are borrowing moneyare borrowing money People are laid off, People are laid off,

which leads to a which leads to a decrease in the demand decrease in the demand for goods, which then for goods, which then leads to more layoffsleads to more layoffs

Stock Market Crash: Stock Market Crash: Oct 29, 1929 (Black Oct 29, 1929 (Black Tuesday)Tuesday)

Rugged Individualism:Rugged Individualism: belief that all individuals belief that all individuals can succeed on their own can succeed on their own w/o the help of the fed w/o the help of the fed gov’tgov’t

VolunteerismVolunteerism Slow and not aggressive Slow and not aggressive

enoughenough Increased government Increased government

assistance, but not assistance, but not enoughenough

The New DealThe New Deal Three R’s:Three R’s:

ReliefRelief RecoveryRecovery ReformReform

Increased gov’t Increased gov’t involvement in involvement in economyeconomy

Fireside ChatsFireside Chats: FDR : FDR addressed the nation addressed the nation using the radiousing the radio

Deficit SpendingDeficit Spending

WPA:WPA: Works Progress Administration: Employed 8.5 million Works Progress Administration: Employed 8.5 million workers in construction and other jobs, but more importantly workers in construction and other jobs, but more importantly provided work in arts, theater, and literary projectsprovided work in arts, theater, and literary projects

TVA:TVA: Tennessee Valley Authority: Federal government built a Tennessee Valley Authority: Federal government built a series of dams to prevent flooding and sell electricityseries of dams to prevent flooding and sell electricity

AAA:AAA: Agricultural Adjustment Act: protected farmers from Agricultural Adjustment Act: protected farmers from price drops by providing crop subsidies to reduce productionprice drops by providing crop subsidies to reduce production

CCC:CCC: Civilian Conservation Corps: Sent 250,000 young men to Civilian Conservation Corps: Sent 250,000 young men to work camps to perform reforestation and conservation taskswork camps to perform reforestation and conservation tasks

Social Security:Social Security: Provided pensions, unemployment insurance, Provided pensions, unemployment insurance, and aid to blind, deaf, disabled, and dependent childrenand aid to blind, deaf, disabled, and dependent children

FDIC:FDIC: Federal Deposit Insurance Corporation: insures peoples’ Federal Deposit Insurance Corporation: insures peoples’ money in banks up to a certain amountmoney in banks up to a certain amount

SEC:SEC: Security and Exchange Commission: regulates stock Security and Exchange Commission: regulates stock market and restricts buying on marginmarket and restricts buying on margin

Wagner Act: NLRB:Wagner Act: NLRB: National Labor Relations Board: Legalized National Labor Relations Board: Legalized UnionsUnions

Dr. Townsend:Dr. Townsend: pushed for pensions pushed for pensions for people over 60 years oldfor people over 60 years old

Huey Long:Huey Long: attacked the wealthy attacked the wealthy Father Coughlin: Father Coughlin: wanted to tax the wanted to tax the

wealthywealthy