Xenophobia The Red Scare (1919-1920) – fear of the Communist Revolution in Russia spreading leads to the jailing and deportation of Anarchist, Communists and Socialists- “Soviet Ark” Labor Movement suffers. Communism considered a foreign conspiracy- Ideas were Un-American. KKK – 1 million
Immigrants No Longer Welcome Immigrations Act of 1921- established a quota; 10% of the number of immigrants in 1910. Immigrations Act of 1924- further restricted immigration; 2% of the number of immigrants in 1890
“Silent Cal” Restores Credibility to the Presidency Calvin Coolidge- very honest; believer in laissez-faire economics. Andrew Mellon- Secretary of the Treasury; introduces trickle-down economics- tax cuts for the rich.
Trickle Down Economics Today Between 1990 and 2004, the bottom 90% of the US population saw its average household income increase by 2%. It went up 57% for the top 1%. It went up 112% for the top .01%.
1920’s Economic Boom – Roaring 20’s Stock Market Booms – Bull Market (Bear) Buying Goods on Credit Installment plan: pay for goods over extended period with interest Some economists, business owners think installment buying excessive – Why? Future? – Who cares live for today!
Revolution in Automobile Production – Assembly Line Henry Ford Model T – Assembly Line and installment plan make the car available to most. “When you build a factory, you build a temple.” Materialism is the new trend.
The Lost Generation (US) - The Da Da Movement (Europe) Main Theme: Disillusionment F. Scott Fitzgerald: called the era the “Jazz Age” Great Gatsby: Showed the negative side of 1920s wealth Sinclair Lewis: Babbit; Against materialism Ernest Hemingway: A Farewell to Arms – questions glorification of war http://images.google.com/imgres?imgurl=http://www.greatwar.nl/hemingway/hemingway1929.jpg&imgrefurl=http://www.greatwar.nl/hemingway/farewell.html&h=249&w=200&sz=27&tbnid=Bv0ImPsLDr8J:&tbnh=106&tbnw=85&hl=en&start=15&prev=/images%3Fq%3DErnest%2BHemingway%26svnum%3D10%26hl%3Den%26lr%3D%26sa%3DN
The Roaring 20’s The New Urban Scene 1922–1929, nearly 2 million people leave farms, towns each year Urban v. Rural - Clash of VALUES!
The Noble Experiment 18th Amendment (1919): supported by religious groups, Rural South, West Prohibition: production, sale, transportation of alcohol is illegal! Volstead Act (1919) Problem: Government does not budget enough money to enforce the law.
Prohibition Ignored Speakeasies: hidden saloons, nightclubs – The “corner cop” People distill liquor, buy prescription alcohol, “sacramental” wine Bootlegging: illegal sale, manufacturing
Rise of Organized Crime Al Capone: controls Chicago liquor business by killing competitors – St Valentines Day Massacre Corruption at EVERY level! Mid-1920s: only 19% support Prohibition
The Election of 1928 Al Smith (D) Herbert Hoover (R) Urban- from NYC Irish-Catholic Wet Progressive- Gov’t Regulation Herbert Hoover (R) Rural- from Iowa W.A.S.P. Dry Pro Big Business – Laissez Faire