Describe each picture. What might each represent about the 1920’s?
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Transcript of Describe each picture. What might each represent about the 1920’s?
Describe each picture. What might each represent about the 1920’s?
Unit 4—Chapter 7The Roaring Twenties
CSS 11.5
Part OneNormalcy and the Booming Economy
11.5.7 Discuss the rise of mass production techniques, the growth of cities, the impact of new technologies (e.g., the automobile, electricity), and the resulting
prosperity and effect on the American landscape. EQ: How did the booming economy of the 1920’s lead to changes in American
life?
The Automobile Drives Prosperity
• Henry Ford (1863 – 1947)• combined mass production with
high wages• tried to pay his workers enough
that they could buy his cars• $5 a day in 1914• set very high standards on the work
and lives of his workers
“I will build a car for the great multitude. It will be large enough for the family, but small enough for the individual to run and care for. It will be constructed of the best materials, by the best men to be hired, after the simplest designs that modern engineering can devise. But it will be low in price that no man making a good salary will be unable to own one-and enjoy with his family the blessing of hours of pleasure in God's great open spaces.”
The Automobile Drives Prosperity
• The Model T, 1908• marketed to the middle class• cost $850 in 1908 but price
dropped to $295 by 1927• car ownership went from 10%
of American families in 1919 to 56% in 1927
• over 15 million were produced• "Any customer can have a car
painted any color that he wants so long as it is black."
The Automobile Drives Prosperity
• the automobile changed the entire nation1. stimulated economic growth
• resources, roads, service stations, diners, motels, insurance
2. freedom of movement• unlike the train, you could go wherever you wanted
whenever you wanted3. helped create “urban sprawl”
• spread cities out to the suburbs
Mass Production
Assembly Line• techniques to produce goods in
large numbers were popularized by Henry Ford
• standardized parts • the assembly line • lowered cost of production• provided lots of jobs that required
little expertise• made things affordable that had
been too expensive for average people • a Model T rolled off the assembly line
every three minutes• a Model T could be made in 93
minutes
A Bustling Economy
• Consumerism• money saved during WWI, was now
spent on new, affordable goods• vacuum cleaner, electric iron, electric
washing machines, radios, refrigerators
• Advertising• used scientific techniques to play on
peoples desires and fears
• Installment Buying• consumers could make a small down
payment and then pay monthly payments
• people could own products that they otherwise could not afford
Listerine's new ads featured forlorn young women and men, eager for marriage but turned off by their mate's rotten breath. "Can I be happy with him in spite of that?" one maiden asked herself. In just seven years, the company's revenues rose from $115,000 to more than $8 million.
The Stock Market
Bull Market• a period of rising stock
prices• 4 million Americans
owned stock by 1929• economists claimed that
the value of stocks would always rise
The Stock Market
Buying on Margin• the buyer paid 10% down and
had months to pay the rest• the stock was the collateral for
the loan• people figured that by the time
the money was due they could sell the stock for a profit• this is allowed more people
to buy stock• This is a REALLY, REALLY, REALLY bad idea!!
People paid 10% of stock price, and could “make payments” on the rest, causing them to buy more than they could afford.
“We in America are nearer to the final triumph over poverty than ever before in the history of any land. We have not yet reached the goal—but . . . we shall soon, with the help of God, be in sight of the day when poverty will be banished from this nation.”
—Herbert Hoover, 1928
EQ:
• How did the booming economy of the 1920’s lead to changes in American life?