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Premium member Presentation Transcript The 1920s and the Great Depression : The 1920s and the Great Depression An Introduction A Business Government : A Business Government Warren Harding won the election of 1920 with the pledge to “return to normalcy.” Stood for high tariffs, price supports for agriculture, and unregulated private business. Charles Ponzi harbinger of things to come. Harding was a poor judge of character. (Teapot Dome and Elk Hills Scandal.) A Business Government : A Business Government Calvin Coolidge was pro-business. Reduced government control over economy. Philosophy: businesses could be kept honest through voluntary cooperation. Instituted tax cuts for the wealthy. Supreme Court backed up Coolidge. A Business Government : A Business Government Coolidge won the election in 1924. Voters tired of reform and scared of unions backed Coolidge in the election. 1920s: a time of free enterprise individualism. This explained why Robert La Follette got trounced. American Industry : American Industry Automobile Industry was the most important industry. Gas stations, fast-food restaurants, and motels sprung up because of automobiles. Tire, glass, steel, & oil companies profited. Assembly line led to more affordable cars. Lives changed & new suburbs were built. Consumer Culture : Consumer Culture During the 1920s, income rose, the cost of living stayed the same, and unemployment was low. Americans began buying cars, radios, refrigerators, washing machines, etc. American Dream = what I can buy. Consumer Culture : Consumer Culture Advertising stimulated desire for material goods (Fulfill “spiritual” & “emotional” needs.) Traditional values of saving and “smart” buying out the window. Social status measured by material possessions. Consumer Culture : Consumer Culture Invest in foreign countries. What about at home? 1) Pay workers more money. Or 2) Let people buy things on credit. The Roaring Twenties : The Roaring Twenties Prohibition. People continued to drink illegally. Went to the “speak easy.” Organized Crime took over the business. Al Capone built a bootlegging empire in Chicago and killed off rivals. Prohibition came to an end in 1933. The New Woman : The New Woman The New Woman Flapper style and values spread in media. Very few women became flappers, but traditional Americans were outraged. Women failed to have a political impact. Women worked in “women’s” jobs. Women encouraged to spend freely. The New Negro : The New Negro NAACP pushed for anti-lynching laws and integration. Marcus Garvey advocated a “Back to Africa” Movement. Harlem Renaissance: literary and artistic movement that celebrated the African-American life. (Langston Hughes) Jazz was part of this artistic expression. The Rise of Mass Culture : The Rise of Mass Culture Mass culture brought country together. Radio and film joined with newspapers and magazines to create the media. National trends and fashion spread. Media contributed to creation of sports heroes. Birth of the movie star. Charles Lindbergh was the greatest hero. Alienated Intellectuals React : Alienated Intellectuals React The Lost Generation: Americans who criticized consumer culture & mass culture. F. Scott Fitzgerald attacks the popular conception of the American Dream. Sinclair Lewis attacked the middle class ideal in his books. Rural America Reacts : Rural America Reacts Economic problems hit rural America. Disturbed by population shift to urban areas. Rural America stood for traditional values. Einstein and Freud were very influential. Reject scientific ideas in John Scopes trial. Wanted to limit immigration & restarted KKK. The Persistence of Memory : The Persistence of Memory Is Salvador Dali wrong? What does it say about our concept of the universe? Election of 1928 : Election of 1928 Hoover ran on a platform of continued prosperity and optimistically hoped poverty would end. Al Smith was the issue. He was Catholic, the son of immigrants, had a big city background, and opposed Prohibition. Smith only gained 87 electoral voted. Underlying Economic Problems : Underlying Economic Problems Economy depended on construction, cars, and selling consumer goods. Other sectors of the economy were weak. Farmers were especially hard hit. Wealth was poorly distributed. 70% of families earned less than adequate income and 80% had no savings. Underlying Economic Problems : Underlying Economic Problems Too little money in the hands of individuals to stimulate consumer spending. There was also too much production and no place to sell it. Companies begin to cut back production and lay off workers. The Stock Market Crash of 1929 : The Stock Market Crash of 1929 Stock Market was a ticking time bomb. Speculation was rampant. (Buy stocks and sell them at a higher price) Bought on margin, but most just borrowed money to buy stocks. Some such as Samuel Insull created holding companies to cash in. Stock Market Crash of 1929 : Stock Market Crash of 1929 The low wages, overextended credit, the slowdown in the economy, and inflated stock prices converged. The Stock Market crashed on Black Thursday (Oct. 24) and Black Tuesday (Oct. 28). Everybody wanted to sell, but their were no buyers. Stock Market Crash of 1929 : Stock Market Crash of 1929 There were ripple effects. Companies were in debt and they had been borrowing money to buy stocks. Banks couldn’t regain money and closed. Upper and middle class lost their savings. Economic activity ground to a halt. Weak economy + stock market crash= Great Depression. Hoover’s Response : Hoover’s Response Hoover was not inactive. He called for employers not to cut wages or production and to stop lay offs. He started to buy farmers’ surpluses and enacted a protective tariff. Increased spending on public works projects. (Fed, State, and Local Governments doubled spending) Hoover’s Response : Hoover’s Response Reconstruction Finance Cooperation. Provided loans for banks and corporations. Such investment would funnel down to the average workers. (It didn’t work) Hoover initially opposed direct relief payments. Later established Emergency Relief Division which tried to loan relief funds. Life in the Depression : Life in the Depression Magazines and newspapers offered “Depression recipes” The majority of families went to church, did activities together, and didn’t divorce. Poorer relatives moved in with family. Homes opened businesses & took borders. People went to the movies in droves. Life in the Depression : Life in the Depression Suicide rate and commitments to mental institutions rose. Many people took to the road. “Hobos” rode on railway cars and begged for food. “Okies” moved to California. Scottsboro Nine case showed that racial tensions were flaring. Life in the Depression : Life in the Depression The lack of direct federal assistance angered people. “Hoovervilles” and “Hoover flags” Labor and Farmer Unrest. Some 100,000 Americans joined the Communist Party in anger. You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
US History 202-071 (Chapter 23) ProfVeiga2009 Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 116 Category: Education License: All Rights Reserved Like it (0) Dislike it (0) Added: April 14, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... Premium member Presentation Transcript The 1920s and the Great Depression : The 1920s and the Great Depression An Introduction A Business Government : A Business Government Warren Harding won the election of 1920 with the pledge to “return to normalcy.” Stood for high tariffs, price supports for agriculture, and unregulated private business. Charles Ponzi harbinger of things to come. Harding was a poor judge of character. (Teapot Dome and Elk Hills Scandal.) A Business Government : A Business Government Calvin Coolidge was pro-business. Reduced government control over economy. Philosophy: businesses could be kept honest through voluntary cooperation. Instituted tax cuts for the wealthy. Supreme Court backed up Coolidge. A Business Government : A Business Government Coolidge won the election in 1924. Voters tired of reform and scared of unions backed Coolidge in the election. 1920s: a time of free enterprise individualism. This explained why Robert La Follette got trounced. American Industry : American Industry Automobile Industry was the most important industry. Gas stations, fast-food restaurants, and motels sprung up because of automobiles. Tire, glass, steel, & oil companies profited. Assembly line led to more affordable cars. Lives changed & new suburbs were built. Consumer Culture : Consumer Culture During the 1920s, income rose, the cost of living stayed the same, and unemployment was low. Americans began buying cars, radios, refrigerators, washing machines, etc. American Dream = what I can buy. Consumer Culture : Consumer Culture Advertising stimulated desire for material goods (Fulfill “spiritual” & “emotional” needs.) Traditional values of saving and “smart” buying out the window. Social status measured by material possessions. Consumer Culture : Consumer Culture Invest in foreign countries. What about at home? 1) Pay workers more money. Or 2) Let people buy things on credit. The Roaring Twenties : The Roaring Twenties Prohibition. People continued to drink illegally. Went to the “speak easy.” Organized Crime took over the business. Al Capone built a bootlegging empire in Chicago and killed off rivals. Prohibition came to an end in 1933. The New Woman : The New Woman The New Woman Flapper style and values spread in media. Very few women became flappers, but traditional Americans were outraged. Women failed to have a political impact. Women worked in “women’s” jobs. Women encouraged to spend freely. The New Negro : The New Negro NAACP pushed for anti-lynching laws and integration. Marcus Garvey advocated a “Back to Africa” Movement. Harlem Renaissance: literary and artistic movement that celebrated the African-American life. (Langston Hughes) Jazz was part of this artistic expression. The Rise of Mass Culture : The Rise of Mass Culture Mass culture brought country together. Radio and film joined with newspapers and magazines to create the media. National trends and fashion spread. Media contributed to creation of sports heroes. Birth of the movie star. Charles Lindbergh was the greatest hero. Alienated Intellectuals React : Alienated Intellectuals React The Lost Generation: Americans who criticized consumer culture & mass culture. F. Scott Fitzgerald attacks the popular conception of the American Dream. Sinclair Lewis attacked the middle class ideal in his books. Rural America Reacts : Rural America Reacts Economic problems hit rural America. Disturbed by population shift to urban areas. Rural America stood for traditional values. Einstein and Freud were very influential. Reject scientific ideas in John Scopes trial. Wanted to limit immigration & restarted KKK. The Persistence of Memory : The Persistence of Memory Is Salvador Dali wrong? What does it say about our concept of the universe? Election of 1928 : Election of 1928 Hoover ran on a platform of continued prosperity and optimistically hoped poverty would end. Al Smith was the issue. He was Catholic, the son of immigrants, had a big city background, and opposed Prohibition. Smith only gained 87 electoral voted. Underlying Economic Problems : Underlying Economic Problems Economy depended on construction, cars, and selling consumer goods. Other sectors of the economy were weak. Farmers were especially hard hit. Wealth was poorly distributed. 70% of families earned less than adequate income and 80% had no savings. Underlying Economic Problems : Underlying Economic Problems Too little money in the hands of individuals to stimulate consumer spending. There was also too much production and no place to sell it. Companies begin to cut back production and lay off workers. The Stock Market Crash of 1929 : The Stock Market Crash of 1929 Stock Market was a ticking time bomb. Speculation was rampant. (Buy stocks and sell them at a higher price) Bought on margin, but most just borrowed money to buy stocks. Some such as Samuel Insull created holding companies to cash in. Stock Market Crash of 1929 : Stock Market Crash of 1929 The low wages, overextended credit, the slowdown in the economy, and inflated stock prices converged. The Stock Market crashed on Black Thursday (Oct. 24) and Black Tuesday (Oct. 28). Everybody wanted to sell, but their were no buyers. Stock Market Crash of 1929 : Stock Market Crash of 1929 There were ripple effects. Companies were in debt and they had been borrowing money to buy stocks. Banks couldn’t regain money and closed. Upper and middle class lost their savings. Economic activity ground to a halt. Weak economy + stock market crash= Great Depression. Hoover’s Response : Hoover’s Response Hoover was not inactive. He called for employers not to cut wages or production and to stop lay offs. He started to buy farmers’ surpluses and enacted a protective tariff. Increased spending on public works projects. (Fed, State, and Local Governments doubled spending) Hoover’s Response : Hoover’s Response Reconstruction Finance Cooperation. Provided loans for banks and corporations. Such investment would funnel down to the average workers. (It didn’t work) Hoover initially opposed direct relief payments. Later established Emergency Relief Division which tried to loan relief funds. Life in the Depression : Life in the Depression Magazines and newspapers offered “Depression recipes” The majority of families went to church, did activities together, and didn’t divorce. Poorer relatives moved in with family. Homes opened businesses & took borders. People went to the movies in droves. Life in the Depression : Life in the Depression Suicide rate and commitments to mental institutions rose. Many people took to the road. “Hobos” rode on railway cars and begged for food. “Okies” moved to California. Scottsboro Nine case showed that racial tensions were flaring. Life in the Depression : Life in the Depression The lack of direct federal assistance angered people. “Hoovervilles” and “Hoover flags” Labor and Farmer Unrest. Some 100,000 Americans joined the Communist Party in anger.