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

Warren G. Harding ( ) Warren G. Harding ( ) Legacy of Scandals Legacy of Scandals Dies in Office Dies in Office Calvin Coolidge (1923 – 1929) Calvin Coolidge (1923 – 1929) Laissez-Faire Laissez-Faire Restore businesses Restore businesses Herbert Hoover (1929 – 1933) Herbert Hoover (1929 – 1933) Stock Market Crash Stock Market Crash Depression Begins Depression Begins Rugged Individualism Rugged Individualism Volunteerism Volunteerism

Little gov’t interference in the economy Little gov’t interference in the economy Coolidge believed in this for the economy to be prosperous Coolidge believed in this for the economy to be prosperous Andrew Mellon (Secretary of Treasury) Andrew Mellon (Secretary of Treasury)

In the 1920s, Americans became consumers… In the 1920s, Americans became consumers… Cars Cars Home Appliances Home Appliances Radios Radios Electricity Electricity

Linked products with qualities associated with the modern era, such as progress, convenience, leisure, success, and style Linked products with qualities associated with the modern era, such as progress, convenience, leisure, success, and style Preyed on consumers’ fears and anxieties Preyed on consumers’ fears and anxieties Advertising encouraged many Americans to consumer more!! Advertising encouraged many Americans to consumer more!! Used Women Used Women Power of Money Power of Money

Farmers experienced an agri- depression in the 1920s, before the Great Depression Farmers experienced an agri- depression in the 1920s, before the Great Depression Efficiency increased…(more food = lower prices) and fewer workers needed Efficiency increased…(more food = lower prices) and fewer workers needed Farmers made 1/3 the income of an industrial worker Farmers made 1/3 the income of an industrial worker Overproduction b/c of new machinery Overproduction b/c of new machinery More Production More Production More Debt More Debt

Credit: borrowing money Credit: borrowing money In the 1920s, credit became easier and more popular among the American public In the 1920s, credit became easier and more popular among the American public Buying of Margin: Paying a small percentage down and borrowing the rest in order to buy stocks Buying of Margin: Paying a small percentage down and borrowing the rest in order to buy stocks Speculation: act of buying stocks at great risk with the anticipation that the price will rise Speculation: act of buying stocks at great risk with the anticipation that the price will rise Investors betted that the market would continue to climb, enabling them to sell the stock and make money quickly Investors betted that the market would continue to climb, enabling them to sell the stock and make money quickly One of the reasons for the Great Depression One of the reasons for the Great Depression

African American movement in the 1920s that promoted literature, drama, visual arts, and dance African American movement in the 1920s that promoted literature, drama, visual arts, and dance Started in the Harlem neighborhood of NYC Started in the Harlem neighborhood of NYC Because of the Great Migration Because of the Great Migration

Marcus Garvey: Back to Africa Movement, Black Nationalism, Universal Negro Improvement Association (UNIA) Marcus Garvey: Back to Africa Movement, Black Nationalism, Universal Negro Improvement Association (UNIA) Zora Neale Hurston: Author, Their Eyes Were Watching God Zora Neale Hurston: Author, Their Eyes Were Watching God Langston Hughes: Poet Langston Hughes: Poet Louis Armstrong: Jazz musician Louis Armstrong: Jazz musician

Religious movement in the 1920s Religious movement in the 1920s Common in rural areas in the U.S. Common in rural areas in the U.S. Beliefs: Beliefs: Bible is literally true with no errors Bible is literally true with no errors Rejected Darwin’s theory of evolution; only believed in creationism Rejected Darwin’s theory of evolution; only believed in creationism Billy Sunday and Aimee Semple McPherson – popular preachers of fundamentalism Billy Sunday and Aimee Semple McPherson – popular preachers of fundamentalism Led some states to pass laws against the teaching of evolution Led some states to pass laws against the teaching of evolution

1925: Tennessee outlawed teaching anything other than creationism 1925: Tennessee outlawed teaching anything other than creationism John T. Scopes, high school biology teacher, arrested and put on trial John T. Scopes, high school biology teacher, arrested and put on trial Found guilty and fined $100 Found guilty and fined $100 Science vs. Creation Science vs. Creation

F. Scott Fitzgerald: The Great Gatsby F. Scott Fitzgerald: The Great Gatsby Ernest Hemmingway: The Old Man and the Sea (many others) Ernest Hemmingway: The Old Man and the Sea (many others) Sinclair Lewis Sinclair Lewis The “Lost” Generation: American authors who wrote in the 1920s The “Lost” Generation: American authors who wrote in the 1920s

Information and entertainment available in most American households Information and entertainment available in most American households Radio: 1920s = the Golden Age of the Radio Radio: 1920s = the Golden Age of the Radio Motion Pictures: The first talking film = The Jazz Singer Motion Pictures: The first talking film = The Jazz Singer Actors: Charlie Chaplin, Mary Pickford Actors: Charlie Chaplin, Mary Pickford Entertainment Entertainment

Charles Lindberg: American Hero for flying solo across the Atlantic Ocrean Charles Lindberg: American Hero for flying solo across the Atlantic Ocrean Sports Sports Babe Ruth (Baseball) Babe Ruth (Baseball) Ty Cobb (Baseball) Ty Cobb (Baseball) Jack Dempsey (Boxing) Jack Dempsey (Boxing)

The manufacturing and selling of alcohol is illegal The manufacturing and selling of alcohol is illegal Bootlegging (illegal manufacturing and distribution of alcohol) Bootlegging (illegal manufacturing and distribution of alcohol) Speakeasy (illegal bars were one could buy alcohol) Speakeasy (illegal bars were one could buy alcohol) Organized crime increased Organized 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 19 th Amendment in 1920 Women gained the right to vote with the passing of the 19 th Amendment in 1920 The New Woman: The New Woman: Short hair Short hair Short skirts Short skirts Short sleeves Short sleeves Rolled stockings Rolled stockings High heels High heels Smoked and drank alcohol in public Smoked and drank alcohol in public Wore makeup Wore makeup “Flapper:” young woman in the 1920s Margaret Sanger: Birth Control; Planned Parenthood

Long Term: Long Term: Overproduction in the 1920s Overproduction in the 1920s Under consumption Under consumption Uneven distribution of wealth Uneven distribution of wealth Low interest rates Low interest rates Easy Credit; buying on margin Easy Credit; buying on margin Immediate: High tariffs (Hawley- Smoot) People and businesses are borrowing money People are laid off, which leads to a decrease in the demand for goods, which then leads to more layoffs Stock Market Crash: Oct 29, 1929 (Black Tuesday)

Rugged Individualism: belief that all individuals can succeed on their own w/o the help of the fed gov’t Rugged Individualism: belief that all individuals can succeed on their own w/o the help of the fed gov’t Volunteerism Volunteerism Slow and not aggressive enough Slow and not aggressive enough Increased government assistance, but not enough Increased government assistance, but not enough

The New Deal The New Deal Three R’s: Three R’s: Relief Relief Recovery Recovery Reform Reform Increased gov’t involvement in economy Increased gov’t involvement in economy Fireside Chats: FDR addressed the nation using the radio Fireside Chats: FDR addressed the nation using the radio Deficit Spending Deficit Spending

WPA: Works Progress Administration: Employed 8.5 million workers in construction and other jobs, but more importantly provided work in arts, theater, and literary projects WPA: Works Progress Administration: Employed 8.5 million workers in construction and other jobs, but more importantly provided work in arts, theater, and literary projects TVA: Tennessee Valley Authority: Federal government built a series of dams to prevent flooding and sell electricity TVA: Tennessee Valley Authority: Federal government built a series of dams to prevent flooding and sell electricity AAA: Agricultural Adjustment Act: protected farmers from price drops by providing crop subsidies to reduce production AAA: Agricultural Adjustment Act: protected farmers from price drops by providing crop subsidies to reduce production CCC: Civilian Conservation Corps: Sent 250,000 young men to work camps to perform reforestation and conservation tasks CCC: Civilian Conservation Corps: Sent 250,000 young men to work camps to perform reforestation and conservation tasks Social Security: Provided pensions, unemployment insurance, and aid to blind, deaf, disabled, and dependent children Social Security: Provided pensions, unemployment insurance, and aid to blind, deaf, disabled, and dependent children FDIC: Federal Deposit Insurance Corporation: insures peoples’ money in banks up to a certain amount FDIC: Federal Deposit Insurance Corporation: insures peoples’ money in banks up to a certain amount SEC: Security and Exchange Commission: regulates stock market and restricts buying on margin SEC: Security and Exchange Commission: regulates stock market and restricts buying on margin Wagner Act: NLRB: National Labor Relations Board: Legalized Unions Wagner Act: NLRB: National Labor Relations Board: Legalized Unions

Dr. Townsend: pushed for pensions for people over 60 years old Dr. Townsend: pushed for pensions for people over 60 years old Huey Long: attacked the wealthy Huey Long: attacked the wealthy Father Coughlin: wanted to tax the wealthy Father Coughlin: wanted to tax the wealthy