• Turn in your 1920s political cartoon

• Read this document and write down your thoughts on its relationship to the clash of values

Bell ringerGive an example of

eachFear of others Clash of values

• Racism• Ethnic Prejudice• Nativism

• New Morality• Fundamentalism• Social Issues

(decline)

Politics & Government• Weak government scarred with political scandal &

unreliable leadership.3 republican presidents of the 1920s

o Scandalo Disconnected from average Americano Favored business over citizens

Ohio Gang “Harding’s Old Poker Buddies”

Harding29th President

Albert FallSec. of Interior

Andrew MellonSec. of Treasury

Harry DaughertyAttorney General

Charles ForbesVeterans Bureau

“Return to

Normalcy”

Warren Harding• Promoted

ISOLATIONISM after WWI

• “Return to Normalcy”o Back to NORMAL life

before the war.

• Cabinet filled with corruption

• One of the worst presidents in history

• Americans distrust elected officials

Teapot Dome ScandalAlbert Fall

◦ Sec. Interior◦ Secretly

(illegally) leased land to private companies

◦ Lands were oil reserves for US Navy Teapot Dome,

WY Elk Hills, CA

◦ 1st Pres. Cabinet member to go to Prison

Andrew Mellon-Sec of Treasury“government should be run like a business”

Balance the

budget

Reduce governme

nt spending

Cut taxes

• Believed high taxes were bad because they limited money for individual o Spendingo Investmento Savings

• Huge tax cuts for o Wealthiest Americanso Corporations

• Tax burden placed on middle class

• Business could invest tax cuts to promote business

• Supply Side Economics

business

More Harding Scandal• Charles Forbes

o Head of Veterans Bureau

o Had illegal contracts and sold

• government property

• hospital medication• Kept money

o BUSTED• Committed Suicide

• Henry Daugherty• Attorney General• Used pvt Ohio banks

to launder money.• Took bribes• Used power of

immunity to keep from going to jail…

Bottom Line….Americans start to distrust elected officials

Calvin Coolidge

• Became President when Harding suffered a heart attack.

• “Business of America is Business.”

• 1924 Electiono “Keep it Cool with Coolidge”o No war, reform or scandalo Few issues during good economy

and no war.

• Deregulation =o Business & Wall

Street can do whatever they want.

Herbert Hoover• Sec. of Commerce

o Promoted • Economic stability• Trade associations

amongst businesseso Disconnected from

average Americanso Disconnected about the

realities of the Crash

• To be continued ……

Economics• Economic prosperity which promoted

overproduction of goods, overspending, & incurring debto After WWI – economy not good.o New Products & process helped spur economyo Business deregulation---- Business producing o People grow over confident because of jobs

Growing Economy• Mass

Productiono Large scale productiono Created Supplyo Reduced costso Machine manufactured

• Assembly lineo Divided operations into

simple tasks

• Model To Tin Lizzie

• Henry Fordo Shortened Work Weeko Paid Vacationso Increased worker wageso 8 hour shifts

o Business Philosophy• Lower cost of

car=sale more cars.

• 1908 = $850• 1924 = $295

Growing Economy

• High Sales = Imitatorso Chrysler o General Motors

• Spurred growth for other industrieso Glasso Rubbero Petroleum

• Created new businesso Mechanic Garageso Gas Stations

Growing economy• Airplanes

o US Post office• Airmail

o Lindbergh• Trans-Atlantic flight

o Spirit of St. Louiso Commercial Airlines

• Radioo NBCo CBS

• News • Sports• Entertainment• Advertising

o Mass Standardization of culture. More people liked the same things

Consumer Credit• Over confidence in

US economy led purchasing on credit.

• Credit- buy now, pay later.

• Big Purchases on credito Caro Radioo Appliances

• Electricity in homes boosted WANTS.o Electric razorso Toasterso Washing machineso Radioso Vacuum cleaners

Why over confident ?

Strong Economy

Protective tariffs ensure

Americans don’t buy

foreign goods

Americans are spending

money on goods & services

So Businesses are making

profits

Businesses hire more workers to

make more products

Americans are employed

& making money

The problems

Foreign markets

place tariffs on American

goods

Expensive purchases done on CREDIT.. Buy now, pay later

Stocks rise causing

Americans to grow

overconfident in the stock

market

Over confidence means

Americans are spending not

saving

Americans find

themselves in severe debt

So what happens?????Economy starts to

slow

To maintain profits

employers cut wages or fire

workers

Unemployed workers are no longer buying

goods

Meaning, businesse

s are selling

less products

To maintain profits

employers cut

wages or fire

workers

Unemployed workers are no longer buying

goods

Workers are not only broke but in severe debt….Bank doesn't care that you were

FIRED….Pay your bills or lose your home!

Stock Market• Stock = shares

“ownership in a company”

• GambleBUY LOW + SELL HIGH = Make A Lot of Money

Stock Market• Bull Market = Long

period of rising stock prices

• Belief: Prices will continue to go up…

• Problem: Creates overconfidence in the market (SPECULATION)

• Mistake: People buy stocks on Credit (MARGIN)…

Margin Call= borrowers

had to repay loan at once

Stock market crash of 1929

• Dates: October 29, 1929

• Also Known As: The Great Wall Street Crash of 1929; Black Tuesday

What caused the Crash?

Crash

Over Production of Goods

Decline of agricultural

prices.

High tariffs restrict foreign demands for

American goods

Low Wages reduce

consumer buying power

Mistakes by the federal

reserve

Over Production of Goods

Low Demand

for goods

No spendin

g money

Workers fired or reduced wages

Cycle gets

worse & worse

Escape Jim Crow laws in the

south

More job opportunities

Better educational

opportunities

HARLEM, NEW YORK

Harlem, NY became the largest black urban community Harlem suffered from overcrowding, unemployment and poverty However, in the 1920s it was home to a literary and artistic revival known as the Harlem Renaissance

HARLEM, NEW YORKAll owned by

African Americans

Businesses RestaurantsApartment Buildings

SafetyRacial PrideVoting

THE HARLEM RENAISSANCE

Explosion of Culture

ArtistJazz Music

Cotton ClubLiterature

Migration of the Negro by Jacob Lawrence

LANGSTON HUGHES

Missouri-born Langston Hughes was the movement’s best known poet Many of his poems described the difficult lives of working-class blacks Some of his poems were put to music, especially jazz and blues

What happens to a dream deferred?

Does it dry up like a raisin in the sun? Or fester like a sore— And then run? Does it stink like rotten meat? Or crust and sugar over— like a syrupy sweet?

Maybe it just sags like a heavy load.

Or does it explode?

LOUIS ARMSTRONG Jazz was born in the early 20th century In 1922, a young trumpet player named Louis Armstrong joined the Creole Jazz Band Later he joined Fletcher Henderson’s band in NYC Armstrong is considered the most important and influential musician in the history of jazz

EDWARD KENNEDY “DUKE” ELLINGTON

In the late 1920s, Duke Ellington, a jazz pianist and composer, led his ten-piece orchestra at the famous Cotton Club Ellington won renown as one of America’s greatest composers

EXPANDING NEWS

COVERAGERadio- brought news, sports, entertainment into American homes.News Paper-y As literacy increased, newspaper circulation rose and mass-circulation magazines flourished

Mass Standardization Americans were hearing & believing the same things across the country.

LINDBERGH’S FLIGHTPilot Charles Lindbergh

Lindbergh made the first nonstop solo trans-atlantic flight He took off from NYC in the Spirit of St. Louis and arrived in Paris 33 hours later to a hero’s welcome Showed U.S. technological superiority and ingenuity.

WRITERS OF THE 1920s

Writer F. Scott Fitzgerald coined the phrase “Jazz Age” to describe the 1920s Fitzgerald wrote This Side of Paradise and The Great Gatsby The Great Gatsby reflected the emptiness of New York elite society

WRITERS OF THE 1920

Ernest Hemingway, wounded in World War I, became one of the best-known authors of the era In his novels, The Sun Also Rises and A Farewell to Arms, he criticized the glorification of war His simple, straightforward style of writing set the literary standard

Hemingway - 1929

AMERICAN HEROES OF

THE 20sGood Economy led to disposable income. EntertainmentBabe Ruth was a larger than life American hero who played for Yankees

Great BambinoSultan of Swat

Red Grange- All American football player “the Galloping Ghost”Jack Dempsey- Heavyweight champion of the world

Tunney-Dempsey 1st fight broadcast over the radio

ENTERTAINMENT AND

ARTS Even before sound, movies offered a means of escape through romance and comedy First sound movies: Jazz Singer (1927) First animated with sound: Steamboat Willie (1928) By 1930 millions of Americans went to the movies each week