1. Annual Salary: $39,000

2. Stock Market Prices Ford Motor Company – $9.41 per share
John Deere – $ per share
General Electric – $7.50 per share
Coca-Cola - $50.40 per share
ExxonMobil - $79.50 per share
Apple - $ per share
Disney - $ per share

3. 1925 Wedding: $10,000 Venue Flowers Decorations Band Wedding Cake
$100 credit each for Chanel No. 5 and hairdryer for your wedding!
“The Lexington” six-bedroom home –
Rent: $176.70/mo.
Buy: $59,372.04
Florence Home value: $28,272

4. 1925 The Man in the Brown Suit – Agatha Christie - $6.96
Ornate black enamel mantel clock - $101.33
Q-Tips - $3.48
Wheaties - $3.48/wk

5. The Roaring
Twenties

6. Making the ‘20s Roar

7. The Roaring Twenties
Called the “Roaring 20s” because of the era’s economic boom
The average wage increased 22%
Work hours and days decreased, leaving more time for entertainment (40 hour wk/5 days)
Many Americans were getting a vacation for the very first time.

8. Master Mellon
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.

9. Changes to Business Modern organizational business structures
Creation of divisions in business, e.g. marketing department
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?

10. Stock Market Terms Stock Buying on Margin Speculation Bull Market
Bear Market
Market Chicken
Market Pig

11. The Stock Market

12. Changes because of the Crash
The Glass-Steagal act of 1932
The Banking Act of 1933
Setup the Federal Deposit Insurance Corporation, guaranteeing all bank deposits up to a maximum of $10,000 in an attempt to avoid another bank panic. (now $250,000)
Federal Emergency Relief Administration in
The Securities and Exchange Act of 1934
The Social Security act of 1935
The Works Progress Administration of 1935, renamed the Works Projects Administration in 1939 (the WPA either way
The Fair Labor Standards Act of 1938

13. The Republican Decade

14. The Republican Decade Labor unions struggle Isolationism/
Protectionism
Labor unions struggle
Laissez faire economics
High tariffs
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.
Removal of anti-trust laws
Tax cuts

15. A Return to “Normalcy”
Warren G. Harding’s promise to return to “normalcy” after the war – a return to pre-WWI America
Ohio Gang: Friends and political allies from Ohio that Harding appointed to high government positions
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.

16. Teapot Dome Scandal 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
Teapot Dome Scandal

17. “Stay Cool with Coolidge”
Calvin Coolidge
Conservative, isolationist, very pro-business
Dawes Plan: US loaned $200 million to Germany so they could pay their WWI debts, which would allow GB and France to pay the US back
“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

18. Tough Times on the Farm WWI = High farm prices (feeding an army!)
Post-WWI = drop in demand + high cost of farm equipment  low farm prices many farmers in extreme debt (only group that didn’t benefit from the 1920s)
Congress tried to pass laws to help farmers; vetoed by Coolidge 2x (not the government’s job to bail people out)
Congress tried to keep agriculture prices high by buying surpluses and then selling them to other nations. The idea was vetoed twice by Coolidge.

19. Election of 1928 Herbert Hoover (R-OH) vs. Alfred E. Smith (D-NY)
Hoover’s election:
Highly influenced by radio
“A chicken in every pot, and a car in every garage"
“rugged individualism”: America had been made by strong, self-sufficient individuals; they should solve their own problems by working harder
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.

20. Historical Holiday Extra Credit
Create a holiday decoration that represents a historical figure or event we have studied this semester. The decoration must be your own design, and must be three-dimensional (i.e. not just a picture drawn on paper). Answer the following questions on a separate piece of paper and turn in with your decoration.
What event or figure did you choose for your decoration? Why did you choose it?
What is the significance of your person/event in U.S. History?
Explain your reasoning and process for creating the decoration in the way you did.
If there was going to be a holiday movie made about your person or event, what would it be about?
Up to 20 Points Extra Credit
Due Friday, December 10, 2018