Week 8- The Roaring Twenties and The Great Crash
Week 8- The Roaring Twenties and The Great Crash 32763
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This 6 page Class Notes was uploaded by Asia Caldwell on Thursday March 3, 2016. The Class Notes belongs to 32763 at East Carolina University taught by Dr. Prokopowicz in Spring 2016. Since its upload, it has received 29 views. For similar materials see History 1051 in History at East Carolina University.
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Date Created: 03/03/16
Monday, February 29, 2016 The Roaring Twenties Gave challenges at looking at the new world: Darwin, Freud, Friedrick Nietzche, and Albert Einstein Rebirth of Klu Klux Klan in the 1920’s Nativism: The foreign connections of so many political radicals convinced many people that the troublemakers in the postwar era were foreignborn. Nicola Sacco (shoemaker) and Bartolomeo Vanzeti (fish peddle): on May 5, 1920 they were arrested for stealing $16,000 from a shoe factory and killing the paymaster and a guard. o Became a hug public spectacle Emergency Immigration Act of 1921: restricted European arrivals each year to 3 percent of the total number of each nationality represented in the 1910 census Immigration Act of 1924: reduced the number to 2 percent based on the 1890 census Women and Prohibition o Women’s Christian Temperance Union and AntiSaloon League: launched a campaign for a national prohibition law January 16, 1917: 18 Amendment banned the manufacture, sale, and transportation of intoxicating liquors. The Yale Club in Manhattan, stored enough liquor to subsist for the fourteen years that Prohibitions was enforced Bootlegging: was the making, distribution, or selling of liquor illegally. Speakeasies: illegal “bootleg” liquor was sold The Federal Government forced 1500 agents to push for prohibition of alcohol o 30 agents for each state o Not supported much Progressives who supported soon changed their mind o They felt as if it no longer benefited, it hindered o Alcohol is now imported illegally Moonshine is imported Al “Scarface” Capone: seized control of the huge illegal liquor business in the city In 1927 his Chicagobased bootlegging, prostitution, and gambling empire brought him an income of $60 million. 11 years in prison The Roaring Twenties: During those years a cosmopolitan urban America confronted an insular, rural America, and cultural conflict reached new levels of tension. Sex could be discussed with a new frankness during the 1920s Flapper: o Fashion included: bobbed hair, minimal undergarments, gauzy fabrics, sheer stocking, cigarettes, booze, makeup, jazz dancing Harlem Renaissance: The nation’s first selfconscious black literary and artistic movement o Cultivate racial equality by promoting African American cultural achievements New Negro Movement: an effort to promote racial equality by celebrating the cultural contributions of African Americans Jazz Age: was a period in the 1920s, ending with the Great Depression, in which jazz music and dance styles became popular o Notable for increased prosperity, liberated or hedonistic social behavior, rise in production and consumption of bootleg liquor, and the development of jazz and ragtime and associated ballroom dances. Marcus Garvey (Garveyism): brought to the allblack Harlem neighborhood the headquarters of the Universal Negro Improvement Association o Saw every white person as potential Klansman First major black leader to champion black power Automobile is used because of this decade o Ford’s reliable Model T 1908; cost $850 1924; cost $294 Automobile changes everything o Everyday behavior Dating – walking vs. being picked up in a car Working living in city vs. suburb Vacation going anywhere for vacation Industries drives on new pave ways; first transcontinental highway is now highway 30 Puts more money in works pocket Henry ford: paid workers $5 a day o Workers could now afford cars Radios were used; and were served for basic communication until 1920 o Columbia Broadcasting System (CBS) o National Broadcasting Company (NBC) People brought refrigerators, washing machines, carpet Buy today, pay later: consumer credit; individual consumers could buy anything on credit, no need for bank Advertising becomes big o Billboards o Radio soap operas and other commercials Bruce Barton The Book Nobody Knows New era of technology: o Al Jolson in The Jazz Singer First popular movie with sound (white actor performing in white face) o 1920 Era of Optimism Charles A. Lindberge: Flies across Atlantic Ocean by himself o 1920: Age of American Sports Baseball 1927 New York Yankees Football: Harold Edward “Red” Grange Boxing: James Joseph “Gene” Tunney and Jack Dempsey Golf; Bobby Jones Swimming Horse racing People are buying stocks o Stock market are going up o If can’t afford, buy on credit Politics o Warren G. Harden 1920 promises to return the country to normalcy Personally honest Numerous scandals Teapot Dome Scandal: a government scandal involving a former United States Navy oil reserve in Wyoming that was secretly leased to a private oil company in 1921 Lead to a major government scandal and the tarnishing of the reputation of President Warren G. Harding's administration Over time people considered him the worst president of all time Followed by Coolidge (30) and Hoover (31) WW1 ends and Woodrow Wilson go and discuss peace Civil war in Russia o USA gets involved Troops land in Siberia In USA and Europe: make sure those who caused war can’t do it again o Make sure they can’t create weapons o Battleships countries with more battleships had more power o 1922: The Washington Naval Treaty: US and Great Britain agree to stop building large battleships Ratio 5:5:3 No new battleships built for the next 10 years o Sign agreements Alliances The 5 Power Treaty: divided up the Pacific Ocean (stopped fighting over who ships could go where) The League of Nations: A world organization established in 1920 to promote international cooperation and peace. first proposed in 1918 by President Woodrow Wilson The Kellogg Briand Pact of 1928: international agreement in which signatory states promised not to use war to resolve disputes or conflicts of whatever nature, which may arise among them. Parties failing to abide by this promise should be denied of the benefits furnished by this treaty Signed by Germany, France and the United States on August 27, 1928 Made war illegal Sign of the optimism of the Roaring Twenties USA backed away from national affairs Thomas Wolf Tax rose o Tariff got higher and higher Treaty of Versailles: It ended the state of war between Germany and the Allied Powers. It was signed on 28 June 1919. Adolf Hitler: o Spends time in jail and creates a book Blames Jews for all the problems of Germany o He takes Germany out of The League of Nations o The Axis: Germany, Italy, and Japan Wednesday, March 2, 2016 The Great Crash Coolidge was called” Silent Cal” he didn’t like to talk much o He was simple and direct, a selfrighteous man of strong principles, intense patriotism, pinched frugality, and few words o Business loved him, labor and agriculture did not o He distanced himself away from the scandals of the administration McNaryHaugen bill: sought to secure equality for agriculture in the benefits of the protective tariff o The bill called for surplus American crops to be sold on the world market In order to raise prices in the home market A Progressive party forms: Senator Robert Lafollette o Endorsed by many o Wanted to help the government Lower taxes Encouraging and cooperating with businesses Standardization Price fixing agreeing to charge the same price (monopoly) 1926 the more production of cotton led to lower prices Labor Strikes o Loray Mill strike 1929: government was sent to help stop the strike, but it didn’t Female textile workers pit their strength against a National Guardsman Mill managers introduced a system that doubled workers' work while decreasing wages Though largely unsuccessful in attaining its goals of better working conditions and wages, the strike caused an immense controversy which gave the labor movement momentum, propelling the movement in its national development. Hoover 1929193 o Engineer by trade o Progressive in technology to make things better o Organizer/Planner Smith was a nice guy, funny, entertaining o Son of Irish immigrants, Roman Catholic, and antiProhibition(opposite of his party’s platform) o Got twice the votes as other Democrats Ford’s Highland Park Plant: o Detroit, Michigan o Taylorism: to make businesses more productive Workers were required to make specific amount of movements on the assembly line to get the job done Florida: Real Estate becomes popular o Buy land for $15 an acre and sold it for even higher o Bubble: people buy things and the production and price goes up, then goes down after time Germany: Tulips NASDAQ Housing prices (2000) Wall Street Stock Market Reason it went up: idea of buying sock on margin o Making a small down payment and borrowing the rest from a broker Stock Market Crash (October 29) o Stocks had fallen in value by an average of 37 percent o Revealed underlined deepness Workers did not prosper, but everyone else did Keeping prices high and wages low Tariff made things worst Tariff of 1930: known as the Smoot–Hawley Tariff which raised U.S. tariffs on over 20,000 imported goods to record levels. Unemployment 6 million (12%) Banks begin to fail Marriage rates went down Suicide rates go up Reconstruction Finance Corporation o $500 million for emergency loans to struggling banks, lifeinsurance companies, and railroads The Great Depression o The stock market crash revealed the structural flaws in the economy, but it did not cause the Great Depression o Causes: high tariffs, lax enforcement of antitrust laws, an absence of checks on speculation in real estate and the stock market, and adherence to the gold stand o Some felt so bad and felt like they could only deal with it by suicide o Banks failed, businesses closed, homes and jobs were lost o Responded: There is nothing you can do about it Laissezfaire Hoover was criticized for doing nothing The “Bonus Expeditionary Force”: The Bonus Army was the popular name of an assemblage of some 43,000 marchers—17,000 World War I veterans, their families, and affiliated groups —who gathered in Washington, D.C., in the spring and summer of 1932 to demand cash payment redemption of their service certificates.