1919-1932 v7

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Post WWI and the Roaring Twenties

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Post World War I through Hoover 1919 – 1932:

Brian Surkan ~ The Walker School Post World War I through Hoover 1919 – 1932

Union of Soviet Socialist Republics:

Union of Soviet Socialist Republics 1917

Disillusioned Veterans Return Home:

Disillusioned Veterans Return Home 1918-19

Influenza Pandemic (1918 – 19):

Influenza Pandemic (1918 – 19)

Deflation & Recession (1919 – 1921):

Deflation & Recession (1919 – 1921)

Communist Party of America (1919):

Communist Party of America (1919)

Palmer Raids (1919-’20):

Palmer Raids (1919-’20)

Bomb on Wall Street (1920):

Bomb on Wall Street (1920)

Sacco and Vanzetti (1920):

Sacco and Vanzetti (1920)

PowerPoint Presentation:

Andrew Mellon

Progressivism:

Progressivism Gradually creating utopia on earth, one step at a time.

Prohibition:

Prohibition “After one year from the ratification of this article the manufacture, sale, or transportation of intoxicating liquors within, the importation thereof into, or the exportation thereof from the United States and all territory subject to the jurisdiction thereof for beverage purposes is hereby prohibited. “ - Amendment 18 (1919)

Thompson Submachine Gun (1920):

Thompson Submachine Gun (1920)

Mafia / Gangsters:

Mafia / Gangsters Al Capone

Lie Detectors & Band-Aids (1921):

Lie Detectors & Band-Aids (1921)

Female Suffrage:

Female Suffrage “The right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of sex. “ - Amendment 19 (1920)

Flappers:

Flappers

Harlem Renaissance & Jazz:

Harlem Renaissance & Jazz

Socialism:

Socialism The needs of the many outweigh the needs of the few.

Socialism: Eugenics (1921):

Socialism: Eugenics (1921)

Fascism Popular:

Nationalsozialismus (1920) Fascism Popular Mussolini in Italy (1922)

Socialism: Communism vs. Fascism:

Socialism: Communism vs. Fascism All property communal Temporary dictatorship Equality of pay Gov’t directs production Heavy, progressive taxes Dissenters killed Goal: Benevolent Anarchy Private property Strong central government Gov’t regulated contracts Gov’t directs production Heavy, progressive taxes Dissenters persecuted Goal: Enlightened Dictatorship Communism Fascism

German War Reparations: Vicious Cycle:

German War Reparations: Vicious Cycle USA Germany Allies R eparations Loan Repay

German Hyperinflation (1923):

German Hyperinflation (1923)

German Hyperinflation (1923):

German Hyperinflation (1923)

Model T Ford:

Model T Ford

Frozen Food & Traffic Signal (1923):

Frozen Food & Traffic Signal (1923)

Scopes Monkey Trial (1925):

Scopes Monkey Trial (1925)

Ku Klux Klan in D.C. (9 Aug 1925):

Ku Klux Klan in D.C. (9 Aug 1925)

Charles Lindbergh (1927):

Charles Lindbergh (1927)

Pop Toaster & Sliced Bread:

Pop Toaster & Sliced Bread 1919 1928

Technology:

Technology

Radio – Pittsburgh (1920):

Radio – Pittsburgh (1920)

Insulin (1922):

Insulin (1922)

Ice Box vs. Refrigerator:

Ice Box vs. Refrigerator

Electric Vacuum:

Electric Vacuum

Ringer Washer Machine:

Ringer Washer Machine

Telephone:

Telephone

The Jazz Singer – “Talkie” (1927):

The Jazz Singer – “Talkie” (1927)

Television (1928):

Television (1928)

Out of Gas?:

Out of Gas?

Post-war Recessions Worldwide:

Post-war Recessions Worldwide Federal Reserve postpones post-war depression Artificially low interest rates stimulate economy (1921 – 28) Increases interest rates rapidly to slow inflation (1928 – 29) Stock market collapses (1929) / deflation follows Worldwide economy heads into a depression

Economic Distress: Banks:

Economic Distress: Banks Growing losses from bad loans Forced banks / investors to contract credit Forced businesses and consumers to reduce debt Stock Brokers to issue margin calls

Economic Distress: Employment:

Economic Distress: Employment Demand for goods decline -> price deflation Fewer goods -> companies cut production Lower production -> led to layoffs Layoffs lead to less consumption

Post-Crash of 1929 Problems:

Post-Crash of 1929 Problems Growing Unemployment Deflation Failing Banks International Distress (Debt Payments) Vocal (Socialist) Opposition to Capitalism

Enter Herbert Hoover:

Enter Herbert Hoover Wealthy businessman in global mining Extensive private charity work during / after WWI Brought food and clothing relief to poor “To Hoover” meant to do good in Finland “Hoover Lunches” were free food for kids in need Secretary of Commerce (1921 – 1929) President (1929 – 1933) Conflicted by opposing personal desires to: Actively help people in need Not expand government to provide charity Regulate business activity centrally

Hoover Responds (1929 – 1930):

Hoover Responds (1929 – 1930) Wanted to keep wages, prices and employment high Tried to convince business leaders to ignore market forces Agricultural Marketing Act (1929 – before stock crash ) Authorized Federal Farm Board to buy/sell farm products Protectionist Hawley-Smoot Tariff Act (1930) Raised prices on over 2,000 imported goods 1,028 Economists signed petition against the bill Foreign countries responded with tariffs on American goods Public works construction - boost employment (1930)

Hoover Admin. Responses (1931 – 1933):

Hoover Admin. Responses (1931 – 1933) Democrats took control of House of Reps (1931) Small Republican Senate majority Some Republicans were Progressives (left) 1-year moratorium : war loan repayment (1931) Affects U.S. Banks / Lending institutions Japan Conquers Manchuria in China (1931) Breaking Washington Naval Treaty of 1922

Hoover Responses (1932 – 1933):

Hoover Responses (1932 – 1933) Fends off “Bonus Army” with real army (July 28, 1932) WWI Veterans promised bonuses in 1945 but wanted them early Revenue Act of 1932 Marginal tax rate raised from 25 to 63% Doubled estate taxes Raised corporate taxes by 15% Reconstruction Finance Corporation (1932) Loans made to banks/businesses (esp. RR) in distress Norris-La Guardia Anti-Injunction Act (1932) Begged FDR to boldly state his intentions (1933) Anything is better than uncertainty in business

Response to Hoover:

Response to Hoover Hoover blamed for distress “ Hoovervilles ” – shanty / tent towns of homeless “Hoover wagons” – cars pulled by horses “Hoover blanket” – old newspaper used as blanket “Hoover flag” – empty pocket turned inside out “Hoover leather” – cardboard replaces shoe sole Conservatives accused him of being a socialist Socialists accused him of not going far enough Canadians did same to leader: “ Bennet Buggies”

Hoover Takes the Blame:

Hoover Takes the Blame

Economic Distress? Change Parties!:

Economic Distress? Change Parties! Franklin D. Roosevelt: “Conservative” Democrat Accused Hoover of recklessly expanding government power Promised reduced expenditures & balanced budget Keep a “sound currency” (gold standard) “at all hazards” Regulation of banks, holding companies, utility rates Unemployment and old age protection “under state laws” Sought to appear bold, but without specific policies Willing to change only “foolish” traditions Surrounded himself with a “Brain Trust” of intellectuals Repeal Constitutional Amendment 18 (Prohibition) Sought to help “the forgotten man at the bottom” 1932: BIG Democratic Victory: FDR / House / Senate

Sources:

Sources http://www.hyperhistory.com/online_n2/connections_n2/great_depression.html http://www.historyplace.com/worldwar2/timeline/ww2time.htm http://en.wikipedia.org/wiki/Events_preceding_World_War_II_in_Europe http://en.wikipedia.org/wiki/Timeline_of_World_War_II http://en.wikipedia.org/wiki/Transatlantic_flight http://www.presidency.ucsb.edu/medialist.php?presid=32 http://www.pbs.org/wgbh/amex/rails/timeline/index.html http://www.yourememberthat.com/files/119811e40fad3bb9.jpg https://woodward8.wikispaces.com/file/view/Hoovervilles.jpg http://images.businessweek.com/ss/07/04/0426_dow/image/2_great_depression.jpg http://farm4.static.flickr.com/3159/3109349739_d46051931f.jpg http://www.subprimeblogger.com/wp-content/uploads/2008/12/depression-vs-recession.jpg http://www.loc.gov/exhibits/treasures/trm203.html Influenza: http://www.britannica.com/blogs/2009/05/influenza-ah1n1-swine-flu-update/

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