b0b9a27bda5eedf95d9425d4ed901540.ppt
- Количество слайдов: 58
THE ROARING TWENTIES AND THE GREAT DEPRESSION US History Unit #12
Warren G. Harding / Creditor Nation Warren G. Harding – Conservative Republican President from 1921 to 1925; Harding promised Americans a return to “normalcy” by ending U. S. military involvement overseas and Progressive reforms at home. Creditor Nation – A country to which more money is owed by other countries than that country owes to them; Following WW 1 the US was the largest creditor, making it the economic center of the world with New York City as the economic capital of the world.
Henry Ford / Mass Production / Model T Henry Ford – American carmaker who introduced a series of methods and ideas that revolutionized production, wages, working conditions, and daily life in the early 1900 s. Mass Production – The rapid manufacture of large numbers of identical products; Ford adapted the methods of mass production in offering the Model T, a reliable car that average workers could afford, to Americans.
Consumer Revolution / Installment Buying Consumer Revolution – An economic change in which a flood of new, affordable goods becomes available to the public; such a revolution took place in the United States in the 1920 s. Installment Buying – Agreement in which a consumer makes a small down payment, and then pays off the rest of the debt in regular monthly payments.
Bull Market / Buying on Margin Bull Market – A period of rising stock prices; Due to a bull market in the 1920 s, by 1929 around 4 million Americans owned stock. Buying on Margin – Form of buying stock on credit; Buyers paid as little as 10% of the stock price upfront to a broker, then paid for the rest over a period of months.
Bull Market
Closure Assignment #1 Answer the following questions using your notes from Chapter 20, Section 1: 1. How is the rise of the automobile an example of technology affecting attitudes or values? (At least 1 sentence) 2. Why do you think many advertisers began to focus on the benefits of their products rather than on the products themselves? (At least 1 sentence) 3. Identify two potential signs of weakness in the economy of the 1920 s and predict what might happen if those problems are not solved. (At least 2 sentences)
Andrew Mellon / Herbert Hoover Andrew Mellon – Secretary of the Treasury during Harding’s presidency; under Mellon’s direction, government spending fell from $18 billion during WW 1 to $3 billion by 1925, decreasing taxes on individuals & businesses. Herbert Hoover – Secretary of Commerce during Harding’s presidency; Hoover worked with business and labor leaders to achieve voluntary advancements instead of making new laws to regulate business as the Progressives had done prior to WW 1.
Teapot Dome Scandal The worst scandal of the Harding presidency; in 1921 Secretary of the Interior Albert Fall arranged to transfer oil reserves from the Navy to the Interior Department, then took bribes from private oilmen in exchange for rights to the reserves.
Teapot Dome Scandal
Calvin Coolidge Republican President from 1923 to 1929; Coolidge maintained Harding’s policies of supporting big business and lowering government spending. As a man of few words, he was given the nickname “Silent Cal. ”
Kellogg-Briand Pact / Dawes Plan Kellogg-Briand Pact – Treaty created in 1928 by the United States and France to “outlaw” war “as an instrument of national policy. ” 62 nations ratified the pact, though all involved new it was unenforceable. Dawes Plan – Arranged in 1924, the U. S. loaned money to Germany, enabling Germany to make reparation payments to Britain and France used these reparation payments to repay their debts to the U. S. All transactions stopped following the onset of the Great Depression, and Germany never repaid its loans to the United States.
The Dawes Plan
Closure Assignment #2 Answer the following questions using your notes from Chapter 20, Section 2: 1. How did the approach to government of Harding and Coolidge differ from that of the Progressives? (At least 1 sentence) 2. Do you think that Harding should be held responsible for the scandals of this administration? Why or Why not? (At least 1 sentence) 3. Many Americans in the 1920 s seemed to support both isolationism and an active role in international affairs. Do you agree? (At least 1 sentence)
Modernism / Fundamentalism Modernism –Trend to emphasize science and secular values over traditional ideas about religion. Fundamentalism – Trend to emphasize Protestant Christian teachings and the belief that every word in the Bible is literal truth.
Modernism vs. Fundamentalism
Scopes Trial / Clarence Darrow Scopes Trial – Class between Fundamentalists and Modernists over theory of evolution in 1925; Biology teacher John Scopes was arrested for teaching theory of evolution in Tennessee. Darrow, defended Scopes in the trial. William Jennings Brian served as an expert for the prosecution. Scopes was found guilty, and fined $100. The trial showcased a major division in the country, but did not heal the conflict which continues today.
Scopes Trial
Prohibition / 18 th Amendment / Volstead Act Prohibition – The banning of alcohol use; By 1917 75% of Americans lived in counties that banned liquor. In 1919 the country ratified the 18 th Amendment, forbidding the manufacture, distribution and sale of alcohol anywhere in the United States. Volstead Act – Passed in 1919 to officially enforce the 18 th Amendment, providing funding to hire federal agents to stop the flow of illegal liquor.
Prohibition
Bootleggers / Al Capone Bootleggers – Vendors of illegal alcohol during the Prohibition Era; Bootleggers often operated secret drinking establishments, known as speakeasies, in America’s cities. Al Capone – Chicago gang leader and the most famous criminal of the Prohibition Era; Capone organized crime ring’s main business was in alcohol sales, but his “side businesses” included prostitution, drugs, robbery, and murder. Through bribery of policemen and politicians Capone evaded arrest.
Closure Assignment #3 Answer the following questions using your notes from Chapter 20, Section 3: 1. How did the two sides in the Scopes Trial represent conflicting value systems? What did each side value most? (At least 2 sentence) 2. Why did both supporters and opponents of immigration quotas believe they were defending American traditions and values? (At least 1 sentence) 3. Why do you think the revived Ku Klux Klan was able to spread beyond the South and even into some urban areas? (At least 1 sentence)
Charlie Chaplin / The Jazz Singer Charlie Chaplin – Most popular silent film star; Chaplin originated slapstick humor, playing a character that was equal parts hobo, dreamer, and poet but an eternal optimist in his ability to charm his audience and reinvent himself. The Jazz Singer – Released in 1927, the first movie with sound synchronized to the action (“Talkie”) revolutionized the film industry.
Babe Ruth / Charles Lindbergh Babe Ruth – The leading sports hero of the 1920 s; Ruth was the most famous athlete in America’s favorite sport, leading the New York Yankees to championships while making the homerun an integral part of baseball. Charles Lindbergh – The first man to fly solo across the Atlantic Ocean; Lindbergh made the flight in 33 hours in a single-engine plane, the Spirit of St. Louis, becoming the greatest American hero of the 1920 s.
Flapper / Sigmund Freud Flappers – Young women with short skirts and hair cropped close in a style known as a bob; Flappers challenged the traditional social norms for women in America and assumed the same political and social rights as men. Sigmund Freud – Austrian psychologist who theorized that much human behavior is driven not by rational thought but by unconscious desires, but to live in society people learn to suppress their desires. The tension between outward behavior and the subconscious leads to mental and physical illness.
“Lost Generation” / F. Scott Fitzgerald / Ernest Hemingway “Lost Generation” – Term for American Writers of the 1920 s who no longer had faith in the cultural guideposts of the Victorian Era (Pre WW 1). F. Scott Fizgerald – American novelist & author of The Great Gatsby; Fitzgerald showed the American Dream ending in a nightmare, writing rags-to-riches stories which ended with heroes destroyed by their achievements. Ernest Hemingway – American novelist who, like Fitzgerald, felt betrayed by the American Dream. Hemingway developed a writing style that reflected his insights in direct language, free from vague adjectives and adverbs.
Excerpt from The Great Gatsby “In the main hall a bar with a real brass rail was set up, and stocked with gins and liquors and with cordials so long forgotten that most of his female guests were too young to know one from another. By seven o’clock the orchestra had arrived, no thing five-piece affair, but a whole pitful of oboes and trombones and saxophones… People were not invited – they went there. They got into automobiles which bore them out to Long Island, and somehow they ended up at Gatsby’s door. ” Closure Question #3: Read the selection from The Great Gatsby. How does it reflect other information you have learned about the society of the 1920 s? (At least 1 sentence)
Closure Assignment #4 Answer the following questions using your notes from Chapter 20, Section 4: 1. How did the increased popularity of sports heroes and the disillusionment of the “Lost Generation” writers represent different responses to the same events? (At least 2 sentences) 2. How did the political role of American women change in the years after World War I? (At least 1 sentence) 3. Reread the selection from The Great Gatsby. How does it reflect other information you have learned about the society of the 1920 s? (At least 1 sentence)
Marcus Garvey / Jazz Marcus Garvey – New African American leader in the 1920 s; Garvey organized the ‘Back to Africa’ movement, encouraging blacks to abandon the culture of America and embrace their African roots. Jazz – Music native to the United States which is based on improvisation and combines different forms of music, including African American blues, ragtime, and European-based popular music.
Louis Armstrong / Bessie Smith Louis Armstrong – Trumpet player and the unofficial ambassador of jazz; As a soloist, Armstrong’s improvisational abilities made him a legend and influenced the development of jazz, leading all jazz bands to feature soloists. Bessie Smith – “The Empress of the Blues”; Leading vocal soloist of the 1920 s.
Harlem Renaissance / Claude Mc. Kay Harlem Renaissance – The flowering of African American culture in the 1920; Jazz and Blues Musicians combined with African American poets, novelists, and artists to celebrate their culture and explore questions of race. Claude Mc. Kay – Militant author during the Harlem Renaissance; Mc. Kay showed African Americans struggling for dignity and advancement in the face of discrimination and economic hardships.
Langston Hughes / Zora Neale Hurston Langston Hughes – The most powerful African American author of the Harlem Renaissance; For Hughes the force of the Renaissance was not politics, but a celebration of African American culture and life. Zora Neale Hurston – Female author of the Harlem Renaissance; Hurston collected African American folk tales in books such as Mules and Men.
Closure Assignment #5 Answer the following questions based on what you have learned from Chapter 20, Section 5: 1. Why do you think Marcus Garvey rejected the goals of earlier African American leaders such as Washington and Du Bois? 2. How did jazz blend cultural influences and cross -cultural divides? 3. Restate the main idea of Claude Mc. Kay’s poem “If We Must Die” in your own words.
Herbert Hoover Republican President from 1929 to 1933; As a believer in laissez-faire capitalism, Hoover refused to intervene in the economy at the onset of the Great Depression, believing that the business world would fix itself. As a result, Hoover received a great deal of the blame for the Depression.
Herbert Hoover
Closure Question #1: How did the uneven distribution of the nation’s wealth weaken the American economy? (1 sentence minimum) During the 1920 s the wages of industrial workers rose steadily, as did their disposable income. Many purchased Model T Fords along with a variety of other consumer products. Though they were certainly not wealthy, industrial laborers were in a better financial position than their fathers had been. But the problem was that while wages rose gradually, worker productivity increased astronomically. Between 1923 and 1929, output person-hour jumped 32%, but worker’s wages inched up only 8%. During that same period, corporate profits from worker output skyrocketed 65%. All these figures pointed to the fact that during the 1920 s, the rich became much, much richer, while industrial workers simply became less poor. In few periods of the country’s history have so small a number of rich Americans dominated such a large percentage of the country’s total wealth. In 1929 the wealthiest 1% of the population earned about the same amount of money as the bottom 42%. This uneven distribution created economic problems. More than 60% of all American families had yearly incomes of less than $2, 000. 24, 000 of the country’s wealthiest families enjoyed annual incomes of more than $100, 000, which was 50 times more than what most families were earning. But these wealthy families did not eat 50 times more food than lower-income families. The wealthiest households did not purchase 50 times more automobiles or radios or ovens. The rich spent a lot on consumer products, but did not buy enough to keep the economy booming. A healthy economy needs more people to buy more products, which in turn creates even more wealth. In this way, a healthy economy avoids under consumption that can limit economic growth.
Speculation / Black Tuesday Speculation – Practice of investing money in the stock market gambling on stock increases to turn a quick profit. Most speculation purchases in the 1920 s were made with borrowed money. (Buying on Margin) Black Tuesday – October 29 th, 1929; The stock market collapsed as 16 million shares of stock were sold leading to Billions of dollars of losses & the onset of the Great Depression.
Closure Question #2: Why was recovery so difficult after the stock market crash? (At least 1 sentence) One of the first institutions to feel the effects of the stock market crash was the country’s banking system. The crisis in confidence continued as frightened depositors feared for their money and tried to withdraw it from their banks. Few banks could survive a sustained “run” of requests by depositor for their money. In 1929, 641 commercial banks failed. A year later, 1, 350 failed. And a year after that, 1, 700 went under. By 1932, many Americans believed that no banks would be left standing. During the 1920 s, the Federal Reserve, which regulates the amount of money in circulation, cut interest rates to stimulate economic growth. But in 1929, worried about investor overspeculation, the “Fed” limited the money supply to discourage lending. As a result, there was too little money in circulation to help the economy after the stock market crash. When plummeting stock prices sent investors to the banks to secure whatever hard money they had left, the banks were cleaned out of currency and forced to close. The collapse of stock prices, combined with reduced consumer spending, spelled trouble for American businesses. Business leaders believed that the survival of their companies depended on production cutbacks, to maintain price levels, and layoffs, to reduce payroll. While their stocks were still falling, companies began closing plants and forcing workers onto the growing lists of the unemployed. In August 1931, Henry Ford closed several of his Detroit automobile factories, putting nearly 75, 000 people out of work. As businesses closed plants and fired workers to save money, more Americans lost their jobs. As unemployment grew and incomes shrank, consumers spent less money. So businesses cut production even more, closing more plants and firing more workers.
Business Cycle The periodic growth and contraction of the economy.
Hawley-Smoot Tariff Passed by Congress in June 1930; Raised prices on foreign imports so that they could not compete in American markets, leading European countries to enact protective tariffs of their own. Increasing tariffs worldwide caused the Great Depression to worsen worldwide.
Great Depression Period lasting from 1929 to 1941 in which the American and Global economies faltered and unemployment soared.
The Great Depression
Closure Assignment #6 Answer the following questions based on what you have learned from Chapter 21, Section 1: 1. How did the uneven distribution of the nation’s wealth weaken the American economy? (1 sentence minimum) 2. Why was recovery so difficult after the stock market crash? (1 sentence minimum) 3. Do you think the nation would have experienced an economic depression even if the stock market had not crashed? Why or Why not? (1 sentence minimum)
Bread Line Run by charities or public agencies during the Depression; Bread lines were often the only place for the unemployed to get a free scrap of food.
Hoovervilles Makeshift shantytowns of tents and shacks built on public land or vacant lots during the Great Depression.
Tenant Farmers who are paid to work land that is not their own by a bigger landowner; During the Great Depression many farmers who lost their farms to foreclosure were forced to become tenant farmers.
Dust Bowl Farmland stretching from North Dakota in the north to Texas in the south which, due to a prolonged drought, experienced gigantic dust storms and saw a dramatic drop in agricultural production in the 1930 s.
Okies Americans who left the Dust Bowl region and headed west, most often to California, in search of jobs and a new life.
Repatriation Efforts by local, state, and federal government to encourage or force immigrants and their naturalized children to return to their nation of origin; During the Great Depression whites in the southwest argued for the repatriation of Mexican immigrants, who they believed were taking jobs from white Americans. As a result, hundreds of thousands of people of Mexican ancestry were pushed out of the United States.
Closure Assignment #7 Answer the following questions based on what you have learned from Chapter 21, Section 2: 1. How were the experiences of the urban unemployed and the rural poor similar? (1 sentence) How were they different? (1 sentence) 2. How do you think the arrival of so many Okies affected the native Californians? (At least 1 sentence) 3. Where might Americans have laid the blame for their difficulties during the early 1930 s? (At least 1 sentence)
Localism Political belief held by President Hoover that economic problems can best be solved at local and state levels, not by the national government.
Closure Question #2: How did Hoover’s views on government influence his response to the depression? Give two examples. At the start of the economic downturn, Hoover followed a hands-off policy. Like most economists of the day, Hoover viewed the upswings and downswings of business cycles as natural occurrences. He felt that government should not interfere with such events. Periodic depressions were like storms. They could not be avoided, but strong businesses could weather them without the support of the government. A policy of doing nothing, however, was no policy at all. Hoover soon recognized this fact and turned to a policy he had used in the past. As Secretary of Commerce during the 1920 s, Hoover had motivated businessmen and laborers to voluntarily work toward common goals. To address the current crisis, he asked business and industrial leaders to keep employment, wages, and prices at current levels. Hoover simultaneously called for the government to reduce taxes, lower interest rates, and create public works programs. The plan was to put more money into the hands of businesses and individuals to encourage more production and consumption. This, Hoover said, would reverse the cycle that led to the depression. Lastly, Hoover requested that wealthier individuals give more money to charity. Millions of Americans gave money, clothing, and food to private and religious charities, which in turn distributed the goods to those in need. The idea was for all Americans to voluntarily join forces to combat the depression.
Reconstruction Finance Corporation Created by Congress in 1932, the RFC gave more than a billion dollars of government loans to railroads, large businesses, and banks hoping to jumpstart the economy but failing to do so.
RFC / Trickle-Down Economics
Trickle-Down Economics / Hoover Dam Trickle-Down Economics – Theory that money poured into the top of the economic pyramid (i. e. Banks and Big Businesses) will trickle down to the based. (i. e. average workers) The RFC exemplifies this theory. Hoover Dam – Government funded public-works project built from 1930 to 1932 on the Colorado River, providing jobs to workers in the southwest along with electricity & water for residents of southwestern states.
Bonus Army 20, 000 World War I veterans who marched on Washington in the summer of 1932 to demand the bonus which they were promised to receive in 1945. The veterans argued that they needed the money early due to the economic hardships of the Depression and occupied government buildings, refusing to leave until they were paid.
Douglas Mac. Arthur American army general who, in the summer of 1932, forced the Bonus Army out of Washington D. C. , ordering his troops to shoot tear gas into the crowds and use bayonets if necessary. President Hoover was blamed for the use of military force against American veterans, leading to his defeat in the Presidential election of 1932.
Closure Assignment #8 Answer the following questions based on what you have learned from Chapter 21, Section 3: 1. What facts show that Hoover’s policies to reverse the depression failed? (At least 1 sentence) 2. How did Hoover’s views on government influence his response to the depression? Give two examples. 3. How did Mac. Arthur’s tactics in removing the Bonus Army affect Hoover’s political future? (At least 1 sentence)