American Life in the American Life in the “Roaring Twenties”“Roaring Twenties”
Chapter 32Chapter 32
Insulating America from the Insulating America from the radical virusradical virus
America turns inward in the 1920sAmerica turns inward in the 1920s– Shun diplomatic commitmentsShun diplomatic commitments– Denounced radicalsDenounced radicals– Closed gates of immigrationClosed gates of immigration– Condemn un -American lifestylesCondemn un -American lifestyles
Seeing RedSeeing Red
Russian RevolutionRussian Revolution
Russian revolution spawns small communist Russian revolution spawns small communist party in Americaparty in America
Strikes at wars end associated w/ redsStrikes at wars end associated w/ reds Seattle strike said to be brought on by redsSeattle strike said to be brought on by reds
Red ScareRed Scare 1919-1920 1919-1920
Nationwide crusade Nationwide crusade against left wingersagainst left wingers
A. Mitchell PalmerA. Mitchell Palmer- - Attorney General- led the Attorney General- led the chargecharge
Fighting Quaker saw Red Fighting Quaker saw Red too easilytoo easily
Rounded up about 6,000 Rounded up about 6,000 suspectssuspects
House bombed in 1919House bombed in 1919
Buford- Soviet ArkBuford- Soviet Ark– 249 suspects deported to Russia249 suspects deported to Russia– Bomb on Wall Street kills 38 and wounds Bomb on Wall Street kills 38 and wounds
hundredshundreds
States join the red scareStates join the red scare
Anti Red lawsAnti Red laws– against advocacy of violence to secure social against advocacy of violence to secure social
changechange critics aroused against freedom of speechcritics aroused against freedom of speech
IWWs and other radical groups prosecutedIWWs and other radical groups prosecuted New York refused to seat 5 socialists in New York refused to seat 5 socialists in
legislaturelegislature
Conservatives like itConservatives like it– Breaks backs of unionsBreaks backs of unions– Closed shops called communisticClosed shops called communistic– Open shop was the American planOpen shop was the American plan
Court CasesCourt Cases
Sacco and VanzettiSacco and Vanzetti– Murder in Murder in
MassachusettsMassachusetts– Jury and judge were Jury and judge were
prejudiceprejudice– World rallies to their World rallies to their
defensedefense– Class struggleClass struggle– Evidence could not Evidence could not
convict them of convict them of murdermurder
Hooded Hoodlums of the KKKHooded Hoodlums of the KKK
New group of Klan members in the 1920sNew group of Klan members in the 1920s– More anti-foreign, Catholic, Black, Jewish, More anti-foreign, Catholic, Black, Jewish,
Pacifist, Communist,Internationalist, Pacifist, Communist,Internationalist, Evolutionist, Gambling, etc.Evolutionist, Gambling, etc.
– Extremist ultra conservative group against Extremist ultra conservative group against forces transforming American lifeforces transforming American life
Midwest and Bible Belt SouthMidwest and Bible Belt South– 5 million dues paying members5 million dues paying members
– Camaraderie and adventure and secret ritualsCamaraderie and adventure and secret rituals– used huge parades, cross for warning, lash as a used huge parades, cross for warning, lash as a
weaponweapon
Collapses suddenlyCollapses suddenly– Became a financial racketBecame a financial racket– members leavemembers leave– Leader (Stephenson) jailed for rape & murderLeader (Stephenson) jailed for rape & murder
Stemming the Foreign FloodStemming the Foreign Flood
Immigrants began Immigrants began flooding American flooding American shores shortly after the shores shortly after the wars endwars end– Eastern and Southern Eastern and Southern
EuropeEurope– 800,000800,000– Wretched refuse from Wretched refuse from
EuropeEurope
Emergency Quota Emergency Quota Act of 1921Act of 1921– Quota from any Quota from any
given countrygiven country 3% if people of their 3% if people of their
nationality had been nationality had been living in the us since living in the us since 19101910
By 1910 many By 1910 many immigrants had come immigrants had come from Eastern and from Eastern and Southern EuropeSouthern Europe
Immigration act of 1924Immigration act of 1924– Quota is cut from 3% to 2%Quota is cut from 3% to 2%– Shifted national origin base to 1890 from Shifted national origin base to 1890 from
19101910 Favored Northern EuropeFavored Northern Europe Southern Europe ProtestsSouthern Europe Protests
– Triumph for NativistsTriumph for Nativists– No Japanese immigrationNo Japanese immigration
Hate America Rallies in EuropeHate America Rallies in Europe
– Canada and Latin America exempt for Canada and Latin America exempt for need of workers in tough timesneed of workers in tough times
Departure in American Departure in American Foreign PolicyForeign Policy
Immigration dried upImmigration dried up 1931 more left than 1931 more left than
came to Americacame to America
End of an EraEnd of an Era– End of unrestricted End of unrestricted
immigrationimmigration– 35 million had come 35 million had come
to Americato America– Separated immigrants Separated immigrants
from native countryfrom native country– Ethnic Variety Ethnic Variety
undermines political undermines political and class solidarityand class solidarity
The Prohibition “Experiment”The Prohibition “Experiment”
18th amendment18th amendment– Prohibition Prohibition – Advocated by women and churchesAdvocated by women and churches– enforced by the Volstead actenforced by the Volstead act– 19191919
Popular in midwest and SouthPopular in midwest and South– Keep liquor out of hands of blacksKeep liquor out of hands of blacks– Strong oppositionStrong opposition
– ImmigrantsImmigrants– Old world sociability built around drinkOld world sociability built around drink
Naïve movementNaïve movement– Tradition of strong drink and weak control by Tradition of strong drink and weak control by
central governmentcentral government– Cannot make crime out of something that was Cannot make crime out of something that was
not a crime the day beforenot a crime the day before– Could not legislate thirstCould not legislate thirst
Peculiar conditionsPeculiar conditions– Serious doubts rise Serious doubts rise
very quicklyvery quickly– wets thought to end wets thought to end
law, violate the lawlaw, violate the law law makers call for law makers call for
prohibition while drinkingprohibition while drinking poor say only rich can poor say only rich can
buy illegal brewbuy illegal brew put over while troops put over while troops
were over therewere over there
Enforcement weakEnforcement weak– Staff smallStaff small– Innocent bystanders Innocent bystanders
killed by mob violencekilled by mob violence
SpeakeasiesSpeakeasies– Bars that ran illegallyBars that ran illegally– Bootleg liquor sold quite Bootleg liquor sold quite
wellwell sold by gangsters and sold by gangsters and
rumrunners(smugglers)rumrunners(smugglers)
Adults began to make Adults began to make their owntheir own– Home brew or alky Home brew or alky
cookingcooking
Success of prohibitionSuccess of prohibition– bank savings increasedbank savings increased– Absentee workers Absentee workers
declinedecline– ““Prohibition was better Prohibition was better
than no liquor at all”than no liquor at all”
The Golden age of GangsterismThe Golden age of Gangsterism
Shocking crimes because of ProhibitionShocking crimes because of Prohibition– Bribery of policeBribery of police– Violent gang warsViolent gang wars
Erase bootlegging competitorsErase bootlegging competitors Over 500 killed in gang wars in ChicagoOver 500 killed in gang wars in Chicago
Al CaponeAl Capone– 6 years of gang warfare 6 years of gang warfare
in Chicagoin Chicago– To control Alcohol To control Alcohol
industryindustry– Could not be convicted Could not be convicted
of St. Valentines day of St. Valentines day Massacre of 1929Massacre of 1929
– Sentenced on income Sentenced on income tax evasion and tax evasion and served11 years in prisonserved11 years in prison
Other gangster areasOther gangster areas– Prostitution, gambling, and narcoticsProstitution, gambling, and narcotics– Protection money or be destroyedProtection money or be destroyed– Moved into labor unionsMoved into labor unions– Organized crime became a gigantic businessOrganized crime became a gigantic business
made more than the governmentmade more than the government
1932 kidnapping of Lindbergh’s baby1932 kidnapping of Lindbergh’s baby– Murder leads to Lindbergh lawsMurder leads to Lindbergh laws
Interstate abduction a federal crimeInterstate abduction a federal crime
Monkey Business in TenneesseeMonkey Business in Tenneessee
Education making great Education making great stridesstrides– More children getting a More children getting a
high school educationhigh school education
– Required to stay in Required to stay in longerlonger
John DeweyJohn Dewey– Set forth “learning by Set forth “learning by
doing”doing”
– Sets forth progressive Sets forth progressive educationeducation
– Education for life Education for life primary goal of primary goal of teachersteachers
Schools became more Schools became more attractiveattractive– Not a prisonNot a prison
Science advancesScience advances– Rockefeller Foundation Rockefeller Foundation
had helped wipe out had helped wipe out hook wormhook worm
– Life expectancy risesLife expectancy rises
FundamentalistsFundamentalists– Teaching Darwinism was destroying faith in Teaching Darwinism was destroying faith in
bible and Godbible and God– Tried to get laws to prohibit its teachingTried to get laws to prohibit its teaching
Tennessee passes such a lawTennessee passes such a law
Scopes Monkey trialScopes Monkey trial– 1925 in Dayton, 1925 in Dayton,
TennesseeTennessee– John T. Scopes John T. Scopes
challenges law by challenges law by teaching evolution in teaching evolution in classclass
– Becomes a nationwide Becomes a nationwide storystory
– Defended by Clarence Defended by Clarence DarrowDarrow
– Fundamentalists led by Fundamentalists led by Wm. J BryanWm. J Bryan
Bryan takes stand and Bryan takes stand and is humiliated by is humiliated by DarrowDarrow– Dies shortly afterwardsDies shortly afterwards
Clash really Clash really inconclusiveinconclusive– Scopes fined $100 but Scopes fined $100 but
Tennessee Supreme Tennessee Supreme Court set it asideCourt set it aside
– Case cast ridiculous Case cast ridiculous absurdities of their caseabsurdities of their case Fundamentalism remains Fundamentalism remains
a vital forcea vital force
The Mass Consumption The Mass Consumption EconomyEconomy
American Economy surges forwardAmerican Economy surges forward– Small depressionin 1920-1921Small depressionin 1920-1921– War and Mellon’s tax polices helped economyWar and Mellon’s tax polices helped economy– New machines and cheap energyNew machines and cheap energy– Assembly line productionAssembly line production
New industriesNew industries– Electric powerElectric power
– AutomobileAutomobile– 30 million cars sold by 193030 million cars sold by 1930
Automobile showed shift in character of Automobile showed shift in character of economyeconomy– Mastered production now had to master Mastered production now had to master
consumptionconsumption
Growth of advertisingGrowth of advertising– Make Americans discontent with their lotMake Americans discontent with their lot– New professionNew profession
Bruce Barton “Man nobody knows”Bruce Barton “Man nobody knows”– Talks of Jesus as greatest advertiserTalks of Jesus as greatest advertiser– conquered the worldconquered the world
Sports became big Sports became big businessbusiness– Babe Ruth and the Babe Ruth and the
House that Ruth builtHouse that Ruth built– Jack Dempsey BoxingJack Dempsey Boxing
first million dollar gatefirst million dollar gate
Buying on credit new Buying on credit new innovationinnovation– Old Puritans go into Old Puritans go into
debtdebt– Prosperity accumulated Prosperity accumulated
debtdebt Vulnerable to disruptions Vulnerable to disruptions
of economyof economy
Putting America on Rubber Putting America on Rubber TiresTires
New industrial revolution in America in New industrial revolution in America in the 1920sthe 1920s– Machinery was the meansMachinery was the means
Automobile was the kingAutomobile was the king
Automobile creates a whole new Automobile creates a whole new industrial systemindustrial system– Automobile invented in EuropeAutomobile invented in Europe– Fords and Olds creating infant industry in usFords and Olds creating infant industry in us– 1910, 69 companies put out 181,000 autos/ 1910, 69 companies put out 181,000 autos/
unreliableunreliable
Frederick W. TaylorFrederick W. Taylor– Father of Scientific Father of Scientific
ManagementManagement Sought to eliminate Sought to eliminate
wasted motionwasted motion
Henry FordHenry Ford– Creates the Model TCreates the Model T
Cheap, rugged, and Cheap, rugged, and reasonably reliablereasonably reliable
Adapts and fully applies the assembly line Adapts and fully applies the assembly line production of the automobileproduction of the automobile– Only in blackOnly in black– So efficient that the price went down to $260 So efficient that the price went down to $260
Thrifty workers could afford oneThrifty workers could afford one
– 1914 Ford Produced his 500.000th Model T1914 Ford Produced his 500.000th Model T By 1930 over 20 millionBy 1930 over 20 million By the time of the crash in 1929 there was I By the time of the crash in 1929 there was I
automobile for every 4.9 Americansautomobile for every 4.9 Americans
Advent of the Gasoline AgeAdvent of the Gasoline Age
Impact of Automobile tremendous on Impact of Automobile tremendous on American lifeAmerican life– Replaces steel as king of industryReplaces steel as king of industry– 6 million employed in auto industries6 million employed in auto industries
Supporting industries sprang up that created more Supporting industries sprang up that created more wealthwealth
– Rubber, glass, fabrics, highway constructionRubber, glass, fabrics, highway construction
American Standard of living also risesAmerican Standard of living also rises
Effects of Auto industryEffects of Auto industry
Older industries die outOlder industries die out Oil industry boomsOil industry booms Railroads begin to dieRailroads begin to die Speedy marketing of perishablesSpeedy marketing of perishables Enriched farmsEnriched farms New roadsNew roads
Agents of social changeAgents of social change
NecessityNecessity Badge of freedomBadge of freedom Self respectSelf respect Open road vacationsOpen road vacations Isolation among sections broken downIsolation among sections broken down Americans own more cars than bathtubsAmericans own more cars than bathtubs Consolidation of schoolsConsolidation of schools Suburbs spreadSuburbs spread
Demon machineDemon machine
Thousands injuredThousands injured– Americans become statisticsAmericans become statistics– By 1951 more Americans die in autos than warsBy 1951 more Americans die in autos than wars
Home life broke downHome life broke down– Morals of youth break downMorals of youth break down– Crime waves of 20s use automobileCrime waves of 20s use automobile
No one willing to go back to horse No one willing to go back to horse and buggyand buggy
Brought more convenience , pleasure, Brought more convenience , pleasure, excitement than pollution and deathsexcitement than pollution and deaths
Humans Develop wingsHumans Develop wings
Orville and Wilbur Orville and Wilbur WrightWright In North In North Carolina in Dec.17, Carolina in Dec.17, 19031903– 12 seconds and 120 12 seconds and 120
feetfeet
The world shrinksThe world shrinks
Aviation grows slowlyAviation grows slowly– Stunt planes at firstStunt planes at first– Used during WWIUsed during WWI– Private Passenger lines and mail carrying after Private Passenger lines and mail carrying after
WWIWWI New York to San Fran in 1920New York to San Fran in 1920
Charles LindberghCharles Lindbergh in in 19271927– $25,000 prize$25,000 prize– Crosses Atlantic in spirit Crosses Atlantic in spirit
of St. Louisof St. Louis
Lucky Lindy becomes Lucky Lindy becomes America’s heroAmerica’s hero– Did much to dramatize Did much to dramatize
and popularize flyingand popularize flying– Gives boost to infant Gives boost to infant
aviation industryaviation industry
Impact of the AirplaneImpact of the Airplane
1 .Gave American spirit another dimension.Gave American spirit another dimension2 .Gave rise to new industry.Gave rise to new industry3 .Death rate high at first.Death rate high at first4 . Regular air travel by 1930s and 40s. Regular air travel by 1930s and 40s5 .Increase tempo of civilization.Increase tempo of civilization6 .Hurt RR industry even more.Hurt RR industry even more7 .Making the world smaller.Making the world smaller8 .New weapons of war.New weapons of war
The Radio RevolutionThe Radio Revolution
Guglielmo Marconi, invents wireless Guglielmo Marconi, invents wireless telegraph in 1890s in Italytelegraph in 1890s in Italy– Used during WWIUsed during WWI
November 1920 KDKA airs the Harding November 1920 KDKA airs the Harding presidential racepresidential race– At first local onlyAt first local only– Began to broadcast to larger areasBegan to broadcast to larger areas– National commercial radio overcomes National commercial radio overcomes
local radiolocal radio
Effects of the radioEffects of the radio
Draws families back to homeDraws families back to home Brings nation togetherBrings nation together
– Standardized showsStandardized shows– Nationwide productsNationwide products– American cultural standardsAmerican cultural standards– Stimulated sports industryStimulated sports industry– Politicians had to adjust to the radioPoliticians had to adjust to the radio– Ministers used to reach millions of listenersMinisters used to reach millions of listeners– Brought new music into homesBrought new music into homes
Hollywood’s Filmland FantasiesHollywood’s Filmland Fantasies
Edison’s invention still a novelty in early Edison’s invention still a novelty in early 20th century20th century– Nickelodeons and peep showsNickelodeons and peep shows
TheThe Great Train Robbery, Great Train Robbery, andand Birth of a Birth of a NationNation (1915)(1915)
Southern California becomes capital of film Southern California becomes capital of film industryindustry
Southern California Southern California becomes capital of film becomes capital of film industryindustry– Censorship had to be Censorship had to be
installedinstalled– Came into use of Came into use of
propaganda during propaganda during WWIWWI
1927 the first talkie 1927 the first talkie The Jazz SingerThe Jazz Singer– Al JolsenAl Jolsen– Age if silent film goneAge if silent film gone– Color also being triedColor also being tried
Effects of the moviesEffects of the movies
Movies were the the Movies were the the number 1 form of number 1 form of entertainmententertainment– Movie stars rose over Movie stars rose over
nightnight– More popular than More popular than
politicspolitics
EffectsEffects– Culture standardizes as Culture standardizes as
Vaudeville dies and Vaudeville dies and attracts immigrant youthattracts immigrant youth
– Standardized language Standardized language and tastesand tastes
– Working class coalition Working class coalition will emergewill emerge
The Dynamic DecadeThe Dynamic Decade
Changes in lifestyle and value of the 1920sChanges in lifestyle and value of the 1920s– More Americans lived in the cities than in the More Americans lived in the cities than in the
rural areasrural areas– Women finding work in the citiesWomen finding work in the cities– Margaret SangerMargaret Sanger champions birth control champions birth control– National Women’s Party organizesNational Women’s Party organizes
Wants Equal RightsWants Equal Rights
– Some thought the world had gone madSome thought the world had gone mad
Churches affectedChurches affected
Modernists gain over Modernists gain over FundamentalistsFundamentalists
Had to turn to Had to turn to advertising and advertising and marketing to compete marketing to compete with new forms of with new forms of entertainmententertainment
Erotic EruptionErotic Eruption
Advertisers exploit sexAdvertisers exploit sex FlappersFlappers
– Goddess of the 20sGoddess of the 20s– Bobbed dressesBobbed dresses– Elevated hemlinesElevated hemlines– Make upMake up– Symbolize independent woman, adventureSymbolize independent woman, adventure
Sigmund FreudSigmund Freud
Justified for new sexual franknessJustified for new sexual frankness PsychiatristPsychiatrist Health demanded sexual gratificationHealth demanded sexual gratification
Many taboos goMany taboos go
Teenagers pioneer the sexual frontierTeenagers pioneer the sexual frontier Listened and danced to jazzListened and danced to jazz Sat in movie housesSat in movie houses Rode in carsRode in cars
Jazz was the sacred music of the ageJazz was the sacred music of the age– Begins in New Orleans and moves to the cities Begins in New Orleans and moves to the cities
with the black migrationwith the black migration Jelly Roll Morton and King Oliver ( Louis Armstrong)Jelly Roll Morton and King Oliver ( Louis Armstrong) Whites get in on the actWhites get in on the act
New racial pride develops in African-New racial pride develops in African-AmericansAmericans
Harlem was one of the Harlem was one of the largest black largest black communities in the communities in the world (100,000)world (100,000)– Langston HughesLangston Hughes poet poet
Marcus GarveyMarcus Garvey
Political leaderPolitical leader– United Negro Improvement AssociationUnited Negro Improvement Association
Wanted to resettle blacks back to AfricaWanted to resettle blacks back to Africa Black was beautifulBlack was beautiful Avoid integration with whitesAvoid integration with whites
– He failed and was eventually deportedHe failed and was eventually deported– Inspired many young blacks who had moved to Inspired many young blacks who had moved to
the citiesthe cities
Literary LiberationLiterary Liberation
Old novelists and literary giants dying outOld novelists and literary giants dying out– Some still popular like Edith Wharton and Willa Some still popular like Edith Wharton and Willa
CatherCather
New literary movement after WWINew literary movement after WWI– Not always from New England which had Not always from New England which had
dominated literaturedominated literature– American literature now has new vitality, American literature now has new vitality,
imagination and artistic qualityimagination and artistic quality
HL MenkenHL Menken– Critical attitude toward Critical attitude toward
all American lifeall American life– Wrote in the Wrote in the Atlantic Atlantic
MonthlyMonthly Attacked the South, Attacked the South,
Puritanism , middle class Puritanism , middle class values, Democracy, values, Democracy, prohibition, and moreprohibition, and more
Writers searched for Writers searched for new codes of morals new codes of morals and understanding and understanding and fresh forms of and fresh forms of expressionexpression– Turn Against traditional Turn Against traditional
valuesvalues
F. Scott FitzgeraldF. Scott Fitzgerald– This Side of ParadiseThis Side of Paradise - -
becomes a bible for the becomes a bible for the youngyoung
– Followed with Followed with The The Great GatsbyGreat Gatsby
Theodore Drieser’s Theodore Drieser’s An An American TragedyAmerican Tragedy
Ernest HemmingwayErnest Hemmingway– Affected by the warAffected by the war– The Sun Also Rises The Sun Also Rises - -
Expatriates in Europe Expatriates in Europe after the warafter the war
– A Farewell To Arms -A Farewell To Arms -WWarar
Sherwood AndersonSherwood Anderson– Winesburg OhioWinesburg Ohio– About small town lifeAbout small town life
Sinclair LewisSinclair Lewis– Main Street - Main Street - Women Women
against provincialismagainst provincialism– Babitt - Babitt - Traditional Traditional
lifestylelifestyle
William FaulknerWilliam Faulkner– Strong Southern writer Strong Southern writer
from Mississippifrom Mississippi– The Sound and the The Sound and the
FuryFury– Writes about southern Writes about southern
charactercharacter
Strong New PoetryStrong New Poetry– Ezra PoundEzra Pound
Left America as the old bitch civilization gone in Left America as the old bitch civilization gone in the teeththe teeth
T.S. ElliotT.S. Elliot– Also left for EuropeAlso left for Europe
Robert FrostRobert Frost– Wrote about New England Wrote about New England
EE. CummingsEE. Cummings– Most daring of all poetsMost daring of all poets
DramaDrama– Eugene O’NiellEugene O’Niell
Laid bare Freudian sexual notionsLaid bare Freudian sexual notions Noble prize in 1936Noble prize in 1936 From New York’s Greenwich VillageFrom New York’s Greenwich Village
Harlem RenaissanceHarlem Renaissance
New outpouring of New outpouring of creative art from creative art from blacks in New Yorkblacks in New York
Louis Armstrong, Louis Armstrong, Langston Hughes, Langston Hughes, Zora Neale HurstonZora Neale Hurston
Called for the New Called for the New Negro with full Negro with full citizenship rightscitizenship rights
ArchitectureArchitecture
New materialism and functionalismNew materialism and functionalism– Frank Lloyd WrightFrank Lloyd Wright
Buildings should grow from their sitesBuildings should grow from their sites Not imitate Greek and Roman stylesNot imitate Greek and Roman styles
Empire State Building finished in 1931Empire State Building finished in 1931 Machine age out does itselfMachine age out does itself
Wall Street’s Big Bull MarketWall Street’s Big Bull Market
American standard of American standard of living risesliving rises– Even though banks Even though banks
failed and scams were failed and scams were everywhere economy everywhere economy kept right on rollingkept right on rolling
Stock Market a great Stock Market a great lure for wealthlure for wealth– Stock Market becomes Stock Market becomes
a gambling dena gambling den– Stock prices soaredStock prices soared– Speculation runs wildSpeculation runs wild
Buying on MarginBuying on Margin– Everyone was doing Everyone was doing
it even the little guyit even the little guy– Rags to Riches Rags to Riches
stories all overstories all over
Washington does Washington does not helpnot help– Debt rose during war Debt rose during war
yearsyears– From $1.8 billion to From $1.8 billion to
over$23 billionover$23 billion
Bureau of Budget Bureau of Budget created in 1921created in 1921– Work with president to Work with president to
create a budgetcreate a budget– Want to stop Want to stop
extravagant extravagant appropriationsappropriations
Andrew MellonAndrew Mellon - Sec of Treasury - Sec of Treasury– Tax Burden on rich hurts economyTax Burden on rich hurts economy
Forced to invest in tax exempt securities not in Forced to invest in tax exempt securities not in industry to create jobsindustry to create jobs
Discouraged businessDiscouraged business Brought less into treasuryBrought less into treasury
Mellon’s tax reduction for the “poor” richMellon’s tax reduction for the “poor” rich– Repealed excess profits tax, abolished the gift Repealed excess profits tax, abolished the gift
tax, reduced excise taxestax, reduced excise taxes– Rich taxed lessRich taxed less– Tax Burden transferred to middle income Tax Burden transferred to middle income
groupsgroups
Controversial figureControversial figure– Reduced national debt by $10 billionReduced national debt by $10 billion– Rich wanted more tax cutsRich wanted more tax cuts– Indirectly encouraging the bull marketIndirectly encouraging the bull market
If income would have paid off national debt then less If income would have paid off national debt then less money for speculation and crashmoney for speculation and crash