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Topic.06 The Ups And Downs


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Topic.06 The Ups And Downs

  1. 1. Topic.06 Part I: The Roaring Twenties<br />Mr. Michael Meechin<br />Celebration High School<br />Social Science Dept.<br />
  2. 2. Culture of Slang<br />During the 1920s, United States society developed a culture of “slang”;<br />Write down what you believe each of these words/phrases mean.<br />Cat’s Meow Crush<br />Gatecrasher Blind Date<br />Big Cheese Bump Off<br />GamsHeebieJeebies<br />High Hat Flapper<br />Gyp Darb<br />Gin Mill Bees Knees<br />[Topic.10 The Roaring 20s]<br />
  3. 3. Two Americas<br />The United States was not a harmonious society in the 1920s;<br />We were divided over social and cultural issues such as religion, race, moral values, and lifestyles;<br />New Americans<br />Urban based, indifferent to religion, and generally liberal;<br />In favor of freer sexual standards and were “wet” [against the prohibition of alcoholic beverages];<br />Old Americans<br />Small town and rural based, conservative;<br />Rejected freer sexual standards and considered drinking a sin that had to be outlawed by the government…<br />[Topic.10 The Roaring 20s]<br />
  4. 4. Harding’s Crooks<br />Qualifications for Administration jobs didn’t matter to Harding;<br />Appointee be a “regular guy”, fun to talk with, fun to drink with, and fun to play cards with;<br />As a result, he hired a lot of crooks<br />The Attorney General sold pardons, paroles, and jobs to the highest bidder;<br />Director of the VA stole supplies intended for VA hospitals and sold them under-the-table;<br />Secretary of Interior, tried to swindle the country out of its military oil reserves;<br />Teapot Dome Scandal<br />[Topic.10 The Roaring 20s]<br />
  5. 5. Silent Cal<br />In 1923, Harding died suddenly from a stroke, unaware of any corruption in his administration;<br />The VP, Calvin Coolidge took office;<br />Fired and prosecuted the Harding crooks, restoring public confidence;<br />His motto was “do nothing”, sleeping away most of his five years in office;<br />Big business was able to do as they pleased, setting up financial policies that will lead to the Great Depression…<br />[Topic.10 The Roaring 20s]<br />
  6. 6. “Soak the Poor” Policy<br />Secretary of the Treasury, Andrew Mellon, launched his “soak the poor” policy;<br />Convinced that high taxes of WWI era hampered business growth, he eliminated wartime profits tax and reduced tax rates for upper brackets;<br />He left rates for lower brackets at wartime levels;<br />Mellon attempted to shift the bulk of the national tax burden on to the backs of ordinary wage earners and away from the wealthy…<br />[Topic.10 The Roaring 20s]<br />
  7. 7. “Soak the Poor” Policy<br />Comparison of Mellon’s Tax Plan with the Obama Tax Plan…<br />[Topic.10 The Roaring 20s]<br />
  8. 8. Prosperity of the 1920s<br />During the 20s there was a tremendous demand for consumer products;<br />Reasons included the availability of credit to the consumer;<br />Low interest rates;<br />Invention of the “installment plan”;<br />Another reason was increase in “discretionary income”;<br />Money left over after necessities were paid for;<br />Used to buy “durable items” (radios, vacuum cleaners, washing machines, refrigerators, and automobiles)…<br />[Topic.10 The Roaring 20s]<br />
  9. 9. Restrictions on Immigration<br />World War I limited immigration to the United States;<br />This also proved that the US could thrive without help from foreign immigrants;<br />Opposition to immigration quotas disappeared;<br />Labor unions feared an immigrant workforce;<br />The belief was if immigrants came to the US, then it would drive American worker wages down…<br />[Topic.10 The Roaring 20s]<br />
  10. 10. Restrictions on Immigration<br />The United States set up immigration quotas in order to regulate the flow of immigrants;<br />Quotas were set-up based on the current proportion of immigrants groups;<br />This system would ensure that the ethnic make-up would remain the same;<br />In 1924, Congress reduced immigration to the United States greatly;<br />Each ethnic group was limited to 2% each year as counted from the 1890 census;<br />It also banned Asians entirely…<br />[Topic.10 The Roaring 20s]<br />
  11. 11. Restrictions on Immigration<br />Based on the 2% immigration quotas:<br />[Topic.10 The Roaring 20s]<br />
  12. 12. The “Red Scare”<br />The United States was put on edge following World War I;<br />The “Red Scare” took hold in the United States;<br />People feared people who showed anti-American behavior [especially those whom were foreign];<br />Indiana killer was acquitted in two minutes for shooting a man who had yelled “to hell with the United States”;<br />In DC, a sailor shot a man who refused to stand for the National Anthem as a crowd cheered…<br />[Topic.10 The Roaring 20s]<br />
  13. 13. The “Red Scare”<br />In 1920, the US Atty. Gen. Mitchell Palmer led raids on leftist organizations;<br />The raids became known as the Palmer Raids;<br />By doing so he created the groundwork for what will become the Federal Bureau of Investigation;<br />They collected names of thousands of people suspected to be Communists…<br />[Topic.10 The Roaring 20s]<br />
  14. 14. The United States Goes Dry<br />At midnight on January 16, 1920 the United States went dry… Prohibition had gone into effect;<br />Prohibition was led by many women’s organizations; <br />Alcohol was linked to domestic violence and child abuse;<br />Henry Ford argued that drinking had effects on labor productivity;<br />The anti-alcohol movement had dubbed alcohol the “Kaiser&apos;s Brew” and the “Devil’s Brew”…<br />[Topic.10 The Roaring 20s]<br />
  15. 15. The United States Goes Dry<br />[Topic.10 The Roaring 20s]<br />
  16. 16. The United States Goes Dry<br />The wording of the 18th Amendment banned the manufacture and sale of “intoxicating liquors”;<br />It did not, however, ban possession, consumption or transportation;<br />Enforcing the laws was almost impossible and smuggling and bootlegging were widespread;<br />It was the Internal Revenue Service who was originally assigned with the task of enforcing the law…<br />[Topic.10 The Roaring 20s]<br />
  17. 17. The United States Goes Dry<br />Prohibition produced bootleggers, speakeasies, moonshine, bathtub gin, and rum runners;<br />Prohibition doubled the number of bars that there were before the law was passed;<br />Franklin Delano Roosevelt [FDR], who ran for President in 1932, pushed for the repeal of the 18th Amendment…<br />[Topic.10 The Roaring 20s]<br />
  18. 18. Problems with Prohibition<br />Federal gov’t never provided city and state governments with the funds necessary to enforce the new law;<br />Many Americans simply liked to drink;<br />Supported Prohibition publicly for the sake of appearances but continued to drink on the sly…<br />[Topic.10 The Roaring 20s]<br />
  19. 19. Problems with Prohibition<br />Prior to Prohibition middle and upper-class people seldom drank more than a little wine with supper;<br />Hard liquor now became a part of middle-class life and the “cocktail party” replaces the tea party as the most popular form of middle-class entertainment;<br />Lawbreaking increased;<br />Liquor transported by truck across the Canadian or Mexican border, or brought by boat from Europe, produced huge profits for rum runners…<br />[Topic.10 The Roaring 20s]<br />
  20. 20. Organized Crime<br />Prohibition created modern organized crime;<br />To meet needs of people who wanted liquor… enterprising men organized liquor distribution networks that rivaled legitimate businesses in their complexity and efficiency;<br />Then used profits to diversify into prostitution, gambling, extortion, etc…<br />[Topic.10 The Roaring 20s]<br />
  21. 21. Organized Crime<br />Authorities would occasionally try to crack down on organized crime;<br />But convictions were hard to obtain because rival gangs refused to testify against each other, witnesses were intimidated or killed, and police and judges were bribed;<br />It was connection between Prohibition and organized crime that led to repeal of 18th Amendment in 1932…<br />[Topic.10 The Roaring 20s]<br />
  22. 22. Race Becomes an Issue… Again<br />Some of the most vicious racial violence in this country’s history took place in the early 1920s;<br />A shift in demography of minorities caused racial tensions in parts of the country that had never had to face these issues;<br />Rosewood, Florida, a small community of 150 was burned to the ground while whites were trying to find an a man accused of rape;<br />The only house standing was the house of the only white resident;<br />In 1994, the State of Florida paid $2.1 million in reparations…<br />[Topic.10 The Roaring 20s]<br />
  23. 23. Race Becomes an Issue… Again<br />A new version of the Ku Klux Klan appeared in the 1920s;<br />This new Klan did not only target African Americans;<br />They also went after Jews, Catholics, immigrants, divorcees, and bootleggers;<br />The Klan considered themselves defenders of Prohibition, true morality, and true Americanism…<br />[Topic.10 The Roaring 20s]<br />
  24. 24. Race Becomes an Issue… Again<br />In the 1920s, the Klan helped 16 Senators get elected as well as numerous Representatives;<br />In 1923, there were 3,000,000 Klan members in the United States;<br />In 1925, the leader of the Klan was sentenced to life in prison, the Klan fell apart;<br />In 1930… they just had 45,000 members nationwide…<br />[Topic.10 The Roaring 20s]<br />
  25. 25. The Scopes Trial<br />In 1925, John Scopes was tried in Tennessee, for teaching evolution, which was a violation of state law;<br />Darwin’s Theory of Evolution:<br />“at some future period, not very distant as measured by centuries, the civilized races of man will almost certainly exterminate and replace the savage races”<br />Survival of the Fittest Theory;<br />Scopes pleaded guilty… and was fined $100;<br />In 1967, the Tennessee Supreme Court struck down the law…<br />[Topic.10 The Roaring 20s]<br />
  26. 26. Restrictions on Immigration<br />[Topic.10 The Roaring 20s]<br />
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  42. 42. Topic.06 Part II: A Depression In the US<br />“Take a method and try it. If it fails, try another. But above all, do something.”<br /> - Franklin Delano Roosevelt<br />Mr. Michael Meechin<br />Celebration High School<br />Department of Social Science<br />
  43. 43. The Stock Market<br />The stock market was established as a system of buying and selling shares of companies;<br />Prosperous times of the 1920s caused many Americans to invest heavily in the market…<br />When one buys a share, they basically own a “piece” of the company purchased…<br />
  44. 44. Market Crash<br />The stock market soared throughout most of the 1920s, and the more it grew, the more people were eager to pour money into it;<br />Most people bought on margin, paying for only part of the stock when they bought, paying the rest when selling;<br />Margin works great… if the stock prices go up…<br />The market crashed in late October 1929, and people who had bought on margin were forced to pay on stocks worth nothing…<br />
  45. 45. Causes for the Crash<br />Who told them anyone could be rich?<br />People were risking their money by playing the Stock Market;<br />Speculation;<br />The process of buying stocks that were thought to rise quickly in price and then selling them for a profit;<br />Buying on Margin;<br />Buying a stock by only paying a percentage of the price, the stock itself is used as collateral…<br />
  46. 46. Causes for the Crash<br />We’re in the money! With too many people;<br />Huge numbers of people investing causes saturated market;<br />Sell, Sell, Sell<br />Brokers begin to call in their margins or loans, and people did not have the money to pay;<br />Prices Down = Panic<br />Those who noticed the downturn in the market panicked and sold their stocks…<br />
  47. 47. Causes for the Crash<br />Where’s the Bank?<br />Banks lent money to brokers; brokers lost all their money to those who borrowed on margin;<br />FDIC<br />Federal Deposit Insurance Corporation;<br />Who’s Depressed?<br />Anyone who had a savings account had been wiped out…<br />
  48. 48. Bank Failures<br />Many banks, especially smaller ones, had overextended credit to farmers;<br />Farmers had not shared in the prosperity of the 1920s and could not repay their loans…<br />Bigger banks had blown all their money lending to foreign countries after WWI;<br />European countries defaulted and banks went bankrupt…<br />
  49. 49. Too Many Poor People<br />While the overall economy soared in the 1920s, most of the wealth was not spread out;<br />In 1929, over half of American families were living under the poverty line…<br />These people had no money to buy products or pay off debt;<br />With less consumers, manufacturers were forced to lay off tens of thousands of workers…<br />
  50. 50. Going From Plus to Minus<br />5,000 banks closed; 9 million savings accounts were wiped out…<br />Unemployment:<br /> Less than 1 million (1929) Over 12 million (1933)<br />
  51. 51. Whatever the Cause<br />… the consequences were staggering;<br />Thousands were left unemployed and out of a job;<br />It would not be uncommon for 2,000 to 3,000 applicants to show up for one or two openings…<br />
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  53. 53. Whatever the Cause<br />If they weren’t looking for work, they were looking for food;<br />Bread lines were est. to keep people from starving…<br />Over 1 million families losttheir homes;<br />They took up residence in shantytowns made up of tents, packing crates and old cars;<br />These places were called “Hoovervilles”, a reference to President Hoover, who was blamed for the mess…<br />Bread line in Louisville, Kentucky; 1930s<br />
  54. 54. Radio Will Get Us By<br />
  55. 55. The “Depression” Cycle<br />Automobile sales declined.<br />This loss of demand meant less demand for:<br />Which contributes back to:<br />Oil<br />Steel<br />Rubber<br />Textiles<br />Lower Wages<br />Unemployment<br />Industry slowed, which caused:<br />
  56. 56. Keeping Women at Home<br />With jobs scarce, a strong feeling prevailed that women should stay at home and let the men have the jobs;<br />There was even a federal “rule” that two people in the same family could not both be on the gov’t payroll…<br />Two things actually increased the # of women workers;<br />Families could not survive w/o extra income;<br />Men became ashamed they could not find work and abandoned their families…<br />
  57. 57. FDR<br />Roosevelt was elected in 1932, with people hoping he could pull them from “Depression”;<br />In 1935, Roosevelt got Congress to pass the Social Security Act;<br />This provided unemployment insurance and retirement pensions paid by both employer and employee through payroll taxes;<br />Later in the 30s, he signed a law which created a national minimum wage of 25 cents/hour…<br />
  58. 58. FDR<br />By the time the 1936 elections rolled around, things were beginning to look up;<br />FDR was easily re-elected…<br />12 million<br />9 million<br />$22<br />$17<br />Unemployment<br />Weekly earnings<br />
  59. 59. FDR<br />Roosevelt’s New Deal, his plan to get the country out of the Depression, brought gov’t into peoples lives;<br />It offered a variety of programs that tried to keep people working, fed, and happy;<br />In 1940, most people were indeed happy, at least happier than they were in 1932…<br />In an unprecedented move, Americans gave FDR a third term as President…<br />
  60. 60. Keeping People Safe<br />
  61. 61. Bad Guys DO NOT TAKE<br />While politicians were coming up with ways to create more wealth, others came up with other ways… they stole it!<br />Charles “Pretty Boy” Floyd;<br />30 banks; killed 10…<br />Arizona “Ma” Barker<br />Gang of four sons; died in a shootout…<br />John Dillinger<br />14-month crime spree; 3 jail breaks; 2 shootouts; stole $265,000…<br />
  62. 62. G-Men DO NOT TAKE<br />Fighting the bad guys were the G-Men, a nickname given to FBI agents by George “Machine Gun” Kelly;<br />The “G” stood for government…<br />Head of the G-Men was J. Edgar Hoover, who served as director of the FBI from 1924 until his death in 1972; <br />His dictatorial leadership, unethical and quite possibly illegal use of the bureau against personal enemies have stained his name;<br />But in the 1930s, millions ofAmerican boys wanted to be him…<br />Hoover on the left<br />