Bell Ringer Write a thesis for the following prompt: To what extent did the United States achieve the objectives that led it to enter World War I?

The Roaring Twenties

1920s America Internal Migration Demographic shifts Majority of Americans live in cities (1920) Migration to western cities (air conditioning invented) Representative apportionment shifts Demographic shifts Exodusters + Great Migration Democratic party split between rural/Southern and urban/Northern factions

The Republican Decade

The Republican Decade Trends: Isolationism/Protectionism Laissez faire economics Removal of anti-trust laws High tariffs Tax cuts Labor unions struggle Fordney-McCumber Tariff raised rates to 38%, helping domestic business, but hurting European countries that needed to export to the US to pay back their WWI debts.

A Return to “Normalcy” A Return to Normalcy: Warren G. Harding’s campaign promise Ohio Gang Many were corrupt He was tall and handsome, and looked the part of President Was gullible and of average intelligence Harding was chosen because he was “folksy” – a man of the people, as a contrast to Wilson’s elitist professorial persona. Ohio Gang: Sold government positions, gave criminal pardons, laundered money, etc.

Teapot Dome Scandal Oil found near Teapot Dome, WY Albert B. Fall – Sec. of Interior Corruption, bribery, jury and evidence tampering, etc. Oil is found near Teapot Dome, WY Sec. of Interior Albert B. Fall had the land secretly placed under his control, accepting bribes for oil drilling rights Word leaked out and the case dragged on for six years, adding jury and evidence tampering to the scandal

“The chief business of the American people is business.” Calvin Coolidge “The chief business of the American people is business.” Harding dies of pneumonia Charles Dawes, an American banker and current VP, gave a $200 million loan from US banks would help stabilize the German economy It set a more realistic repayment plan than the German reparations plan under the Treaty of Versailles They could pay back Britain and France, who could then repay the US

Tough Times on the Farm Post-WWI = drop in demand + high cost of equipment  high debt for farmers Only group that didn’t benefit from the 1920s economic boom Congress tried to pass laws to provide farm subsidies; vetoed by Coolidge 2x Congress tried to keep agriculture prices high by buying surpluses and then selling them to other nations. The idea was vetoed twice by Coolidge. (not the government’s job to bail people out)

Election of 1928 Herbert Hoover (R-OH) vs. Alfred E. Smith (D-NY) Hoover’s election: Highly influenced by radio GOP slogan: “A chicken in every pot, and a car in every garage" Hoover’s “rugged individualism” Herbert Hoover became the nominee for the Republicans, promoting “rugged individualism” - America had been made by strong, self-sufficient individuals Democrats nominated NY Governor Alfred E. Smith, a well-liked man, but he was Catholic, which was the death blow for the South. With the popularity of the radio, Hoover had the advantage over Smith’s grating New York accent.

Making the ‘20s Roar

The Roaring Twenties Nicknamed the “Roaring 20s” because of the era’s economic boom The average wage soared 22% Work hours and days decreased, leaving more time for entertainment Many Americans were getting a vacation for the very first time.

Abundance of new goods available: improved technology and increased demand Advertised via radio Buying on credit: Inflated sense of wealth; vast amounts of debt Many new goods came on the market to take advantage of the new disposable income. Most were advertised on the radio People began buying high-priced items on credit – enjoy now, pay later! Quickly, credit was applied to all purchases, big and small, inflating ideas of the public wealth and security of purchases The Consumer Culture

America and the Automobile Played a major role in economic boom Stimulated job market Spurred urban sprawl Created opportunities for youth to pursue interests away from their parents Most bought on credit The automobile quickly became a staple of American consumerism

1st Solo transatlantic flight In 1919, a New York City hotel owner offered $25,000 to the first aviator to fly nonstop from New York to Paris. Several pilots were killed or injured while competing for the Orteig prize. An American aviator who made the first solo nonstop flight across the Atlantic Ocean on May 20-21, 1927. Total flight time: 33 hours, 30 minutes, 29.8 seconds. Charles Lindbergh had not slept in 55 hours.   Charles Lindbergh

Total flight time: 33 hours, 30 minutes, 29. 8 seconds Total flight time: 33 hours, 30 minutes, 29.8 seconds. Charles Lindbergh had not slept in 55 hours.   Lindbergh's feat gained him immediate, international fame. The press named him "Lucky Lindy" and the "Lone Eagle." Americans and Europeans idolized the shy, slim young man and showered him with honor.

Amelia Earhart

The Radio Changed communication and created a homogeneous culture Sports Entertainment News Advertising Standardized speech patterns National Broadcasting Company and the Columbia Broadcasting System became the first national broadcasts In 40% of American homes by 1929

A Roaring Economy Andrew Mellon: Secretary of Treasury throughout 1920s; believed government should operate like a business Supply-side/“Trickle-down” economics: Tax cuts (esp. for wealthy)  More disposable income Invest/spend extra $ Government has more $ to tax Goals: balance the budget, reduce government debt, and cut taxes.

Changes to Business Modern organizational business structures – divisions, managers, etc. Increase growth of middle class Welfare capitalism Unionization lost popularity Modern organizational business structures Business divisions were created, e.g. sales, marketing, accounting, etc. Increase in the use of managers helped the middle class grow Welfare capitalism: Companies provide opportunities and services to employees to encourage loyalty and productivity (e.g. medical benefits, pensions, etc.) Unionization lost popularity – times were good, so why join a union?

Stock Market 101 Stock Buying on Margin Speculation Bull Market Bear Market Market Chicken Market Pig

The Long Bull Market