Roaring 20s and the Crash Standard VI: 2 Chapter 21 & 22 Pages 596-638.
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Transcript of Roaring 20s and the Crash Standard VI: 2 Chapter 21 & 22 Pages 596-638.
Roaring 20s and the Crash
Standard VI: 2Chapter 21 & 22Pages 596-638
A. America After the War
• Many Americans were exhausted from the war
• Economy was in a difficult state of adjustment
• Nativism-people became fearful of foreign-born people
• Isolationism-pulling away from world affairs
Great Migration• 1910-1920• Thousands of African-
American moved from the South to the North
• They moved in search of jobs in the big cities
• Intense discrimination in the South played a part in their departure as well
• Yet, many people in the North did not welcome the the newcomers resulting in race riots
•
B. Fear of Communism
• Communism-an economic and political system based on a single-party government ruled by a dictatorship
• The Red Scare-Revolution in Russia-waving of red flags; had hopes of abolishing capitalism
I. Sacco and Vanzetti • Anarchists-people who
oppose any form of government
• Both of these men were anarchists who were arrested and charged with the robbery and murder of a factory paymaster
• Thought to have been charged due to their radical beliefs
• They were sentenced to death (electric chair)
Insert video: Sacco and Van
C. Limiting Immigration• “Keep America for
Americans”• Anti-immigrant sentiment• Fewer unskilled jobs meant
fewer immigrants should be let into the country
• KKK rises again-devoted to “100 percent Americanism”
• Quota system-set the maximum number of people who could enter the U.S. from each country
D. The Harding Presidency• Served 1921-1923• Warren G. Harding’s
administration appealed to America’s desire for calm and peace after the war
• Harding called for “normalcy” or a return to the simpler days
• People said he “looked like a president ought to look”
I. Harding Struggles for Peace
• Problems surfaced relating to arms control, war debts, and the reconstruction of war-torn countries
• High tariffs and reparations-conflict arose when it came time for Britain and France to pay its debts to the U.S.
E. Scandal Hits Harding’s Administration
• Cabinet contained the so-called Ohio gang, the President’s poker-playing cronies
• Harding was believed to have not understood many of the issues
• His corrupt friends used their offices to become wealthy through graft
• Teapot Dome Scandal-Teapot Dome, Wyoming-Albert B. Fall became rich after leasing land to two oil companies illegally
F. Coolidge Era
• Harding died of a stroke shortly after the Teapot Dome Scandal
• Calvin Coolidge-Harding’s Vice-President who assumed the Presidency
• Served 1923-1929• Helped to restore the
people’s faith in their government
I. Industries Flourish
• Coolidge favored government policies that would keep taxes down and business profits up
• Allow private enterprise to flourish
• Respected for his solemnity and wisdom
G. Lost Generation of Writers
• Set of writers who believed they were lost in a greedy, materialistic world that lacked moral values
• Flocked to Greenwich Village in New York
• Most prominent writers were Ernest Hemingway and F. Scott Fitzgerald
H. Prohibition • The Volstead Act was
ignored by most cities on the East coast
• Bootleggers-suppliers of illegal alcohol
• Speakeasies-illegal bars that flourished in the cities
• Rise of organized crime-Al Capone (“Scarface”)-famous gangster from Chicago
I. Scopes Trial• Trial fought on the
teaching of the Theory of Evolution vs. Fundamentalism
• Tennessee banned the teaching of evolution
• John T. Scopes-asked a friend to file suit against him for teaching evolution
• Scopes was fined $100 and the law in Tennessee remained in effect
Insert video scopes trial
J. Herbert Hoover’s Presidency
• Served 1929-1933• Known for the Great
Depression• Viewed as a failure
even though he initiated many reforms
• “Hoovervilles”-shacks where unemployed and homeless lived
K. Economy of the Late 20s
• Economy appeared to be healthy
• People had unusually high confidence in the business world
• Welfare capitalism-raised wages and provided benefits
• “Everybody ought to be rich”
L. Economic Danger Signs• Only a small amount of
people held the nation’s wealth
• Buying on credit caused an increase in personal debt
• Speculation-the practice of making high-risk investments in hopes of receiving a high gain
• “Playing the stock market”
M. Collapse of Farm Economy• Farmers were able to buy
tractors during the 1920s; hence, they bought more land
• Yet, falling farm prices made farmers unable to repay their debts for land and machinery
• Banks began to go out of business when loans were not repaid
N. Stock Market Crash• September 1929-stock
prices peaked, then fell• Confidence in the market
began to decrease• Investors sold their
stocks and pulled out; market took a plunge
• October 29, 1929-Black Tuesday-stock market crashed signaling the beginning of the Great Depression
Add video Crash
Compare Presidents ChartPresidents Positive Negative
Harding
Coolidge
Hoover