Roaring Twenties

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Roaring Twenties
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Introduction-Progress of Age

• Most people living in urban rather than rural
  areas
• Dominating Am. Culture
• Automobiles, radio, movies, appliances
• Frederick Jackson Turner prediction true
• US Business undermines previous reforms
• Bruce Bartons Man Nobody Knows

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Major Changes of the 1920s

• Growth of Science and Technology
• Auto- bedroom on wheels
• Ford and the assembly line- 93 min.
• Increased demands for related industries
• New cities extended LA, Dallas
• Skyscrapers emerged- elevators
• Radios- KDKA
• Growth of motion pictures
• Birth of a Nation, Jazz Singer

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Changes in the Home

• Labor saving devices, time saving
• Cult of Domesticity
• Safe and reliable contraceptives
• Margaret Sanger- Planed Parenthood
• Food Preservation
• Canned food universally used
• Clarence Birdseye- freezing process
• Plastics, cellophane, cig. Lighters, some
  telephones, air conditioning

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Industrial Changes

• Pennsylvania Turnpike
• US 66 completed
• General Electric- Radio Corp. of America
• Dominated radio and phonographic equip.
• Pooled with ATT
• Consolidation movement
• Marketing Changes
• Installment buying increases
• Advertising increases
• Auto Changes
• One car, one color
• Chevy sees a market- causes Ford to shut down

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Changes in working Conditions

• Reduction in Hours
• US STEEL gives new hours resulting in efficiency
• Welfare Capitalism
• Increased employee benefits
• Union membership declines
• Wages still not raised significantly
• More time off but no money to spend

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More Changes

• Investments in other countries goods
• Trade barriers restricted selling goods
• Growth of Cosmetic industry
• New image,ideal woman
• 1st Miss America Pageant
• More divorces
• Women become flight attendants
• Failed to make real gains

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Lingering Allied war Debt

• Return to Normalcy to isolationism
• Britain owed the US 4 billion
• France 3 billion
• Italy 1.6 billion
• Many countries owe Great Britain 10 billion
• Wilson wants full payment from the Allies (only
  Finland pays all)
• Debt 11.5 billion over 62 years at 2.135
  interest rate

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GREAT DEPRESSION1929
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Events entering the 1930s

• Agricultural Marketing Act- 1929
• Est. Federal Farm Board
• Loan money to farm groups to buy surplus
• Hoover suggest one year moratorium on war debt
• Star Spangled Banner approved as anthem
• Amelia Earhart-1st to fly solo over Atlantic
• Lindbergh Kidnapping

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Hoover Foreign Policy

• Japan attacks Manchuria
• Violates Kellogg- Briand
• Henry Stimson (Sec. of State) will not recognize
• League of Nations adopts Non-Recognition
• Hoover withdraws marines from Nicaragua

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Causes of the Great Depression

• 1. Tax policies of Andrew Mellon
• Rich favored with tax breaks
• Widened gap between rich and poor
• Fewer could purchase goods
• 2. Overproduction of Goods
• Factories producing more than could be purchased
• More quality goods made, lasting longer

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More Causes.

• 3. Higher Tariffs- Hawley Smoot Tariff
• Raised 60
• Other countries raised their tariffs aginst the
  U.S.
• Europe could not raise money to pay off war debt
• 4. Unwise speculation in stock market
• Stocks higher than true value
• Banks involved in Stock
• Buying on margin

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Still More Causes.

• 5. Over Expansion of Credit
• Installment buying
• 6. Drought in the Mississippi Valley
• Created farmer bankruptcy
• Farms auctioned off
• 7. Unhealthy International Monetary Situation
• War debt crippling Europe
• No more loans made to Germany

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Great Depression

• Stock Market Crash
• Oct 24- Black Thursday- Decline in market
• Oct 29th-Black Tuesday
• Stockholders lose 30 billion in paper value
• Bank Closings
• Many suicides
• 1,300 close within 14 months

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Hoover Administration Reaction

• Did not how to deal with the misery
• Faced 2 Problems
• 1. Overconfidence in Am. Machinery
• TRICKLE-DOWN THEORY
• 2. An Extremely Conservative Republican Congress
• No direct relief as an option

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Pump Priming Attempt

• Public Buildings Act
• 530 million
• Created jobs
• HOOVER DAM
• Reconstruction Finance Corporation
• Gave Federal money to self liquidating projects
• Indirect relief
• Norris- Laguardia Act
• Protected workers rights

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Public reaction to Hoovers Actions

• Democrats win control of House of Reps.
• Bonus Expeditionary Force
• 1,700 veterans- Patman Bonus Bill
• Created Hoovervilles
• Congress defeated- paid for fare home
• 2,000 would not disperse
• 2 killed in riots
• Douglas, McArthur and Eisenhower
• 8 month old dies
• Negative Image for Hoover

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Election of 1932

• R Hoover
• D Franklin Roosevelt
• Called for repeal of 18th amendment
• Cuts in spending
• pensions and unemployment
• A new deal for American People
• Black voting coalition

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Hoover as a Lame Duck

• No new legislation passed
• 20th amendment submitted
• March 3- January 20th
• Congress submits to the states the 21st amendment
• Feb. 1933- FDR shot, but not hit
• 1st All Star Game played
• 1st NFL championship