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Boom Times to Hard Times

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Boom Times to Hard Times. Ch 20 Postwar Social Change Ch 21 Politics & Prosperity Ch 22 Crash & Depression Ch 23 The New Deal. Postwar Social Change. Chapter 20. Society in the 1920s. Women became more liberal Started working and being independent People moved from rural to urban - PowerPoint PPT Presentation
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Boom Times to Hard Times Ch 20 Postwar Social Change Ch 21 Politics & Prosperity Ch 22 Crash & Depression Ch 23 The New Deal
Page 1: Boom Times to Hard Times

Boom Times to Hard TimesCh 20 Postwar Social ChangeCh 21 Politics & ProsperityCh 22 Crash & DepressionCh 23 The New Deal

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Postwar Social ChangeChapter 20

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Society in the 1920s•Women became more liberal•Started working and being independent•People moved from rural to urban•African Americans moved north for jobs•Suburbs boomed

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Mass Media•Movies became very popular•“Talkies” – movies with sound•Newspapers had circulation wars•Radio reached 10 million in 1929•Stations broadcast shows and news

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Jazz Age•Grew out of African American music•Clubs and Dance halls drew young crowds•People feared its improvisational ways•Spurred painting, literature, and other

arts•Harlem Renaissance – center of jazz


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Cultural Conflicts*Prohibition

•Purpose = eliminate drunkenness, prevent absenteeism and job accidents

•Bootleggers – made and sold alcohol illegally

•Speakeasies – bars that operated illegally•Usually run by organized crime (mob)•Most famous: Al Capone

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movement•Basic belief that Bible is

absolute truth•Teaching evolution

became problem•Scopes Trial – teacher

arrested for evolution lesson

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Racial Tensions•Violence against

African Americans rose

•KKK resurged•Crimes against

all kinds of minorities

•NAACP tried to help

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Politics and ProsperityChapter 21

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A Republican DecadeThe Red Scare

•Fear of communism from Russia•Jailed radicals without evidence•Supreme Court ruled to limit freedom of


•Labor Strikes▫Fueled fears of communism▫Police, steel workers, miners▫Most saw unions as problem makers▫Strikes declined as wages rose

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Harding Presidency •Isolationism – avoiding political or

economic alliances with other countries•Wanted disarmament – give up weapons•National Origins Act – quotas on

immigration•Corruption in administration•Tea Pot Dome – Sec. of Interior

gave illegal oil drilling rights for bribes

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Coolidge Presidency•Took over when Harding died•Continued Laissez Fair economy•Kellogg-Briand Pact – 60 nations

vowed to outlaw war, didn’t work•Did not run again•GOP chose Herbert

Hoover instead

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Ford and the Automobile •1908 Model T sold 30,000•Developed assembly line•Changed industry forever•1 car made every 24 seconds•Costs fell, everyone could own car•Tried to Americanize his workers

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Economy in the Late 1920s•Prosperity seemed infinite•“Everyone Out to be Rich”•Uneven prosperity – rich got richer, poor

stayed poor•Personal debt went through the roof•Stock Market thought to “Get Rich Quick”•Too many goods, too little demand•Farmers and workers often lost


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Crash and DepressionChapter 22

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The Market Crashes•Stocks rose above actual value•Black Thursday –October 24, 1929

▫Investors sold shares at half price▫President Hoover said everything was ok

•Black Tuesday – October 29, 1929▫16.4 million shares sold (4 times norm)▫Total loss = $30 billion▫4 million people felt immediate shock▫Spread to all 120 million people

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Ripple Effect•Banks recalled loans, no one could pay•Bank failures wiped out savings•Factories stopped producing•Unemployment rose•Other countries suffered

due to US loss

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Impact on the World•Countries depended on US for loans•US kept import taxes high•Countries couldn’t sell goods to US•As US economy fell, so did the world’s

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Causes of the Depression•Unstable Economy

▫Wealth was unevenly distributed▫No one was saving money▫Too many goods, not enough consumers

•Overspeculation▫Buying stocks with borrowed money▫Used these as collateral to buy more stocks▫No actual money

•Government Policies▫Federal Reserve cut interest rates▫Lowered amount of money in circulation

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Social Effects•“Hoovervilles” –

poor shanty towns•Farmers couldn’t

farm•Dust Bowl – dust

storms that blew soil away

•Families were strained

•Discrimination grew

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Signs of Change•1933 – 21st Amendment – repealed

Prohibition•Organized crime decreased•Empire State Building began construction

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Hoover’s Limited Strategy

•Built many public works•1930 – Hoover Dam begins construction•Hawley-Smoot Tariff – highest import tax

ever•Reconstruction Finance Corporation

(RFC)▫Gave credit to big companies to expand

•Hoover’s unpopularity grew

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1932 Election•Franklin Delano Roosevelt pledged a

“New Deal”•Wife, Eleanor, experienced political

activist •Won by 7 million votes•1st Inaugural Address:

“So first of all let me assert my firmbelief that the only thing we have to fear is fear itself.”

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The New DealChapter 23

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The First Hundred Days

•Began “Fireside Chats”•Stabilized Banks

▫Federal Deposit Insurance Corp. (FDIC)▫Gov could check on all banks anytime

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Created Jobs•Federal Emergency Relief Administration

(FERA)•Gov funded public facilities•Civil Works Admin (CWA)

▫Improve roads, parks, airports▫4 million employees

•Civilian Conservation Corps (CCC)▫2.5 million young unmarried men▫Maintained forests, beaches, parks▫$30 a month, room and board

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The Second New Deal•First one was good but had problems•FDR’s response to critics of 1st

•New agencies employed 8 million•Rural electrification was key•Wagner Act – helped Unions:

bargaining•1935 – Social Security established

▫Old age pensions▫Unemployment▫Aid for disabled

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Limitations of the New Deal•Women were at disadvantage for jobs•Men got jobs first•Segregation was reinforced•Politicians thought Government was getting

too big•Added $$$$$$ to the National Debt

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The End of the Deal•1937 – Recession hit again, doubled

national debt•Labor Unions organized sit-down strikes•Tried to get better pay and conditions for

workers•Arts increased due to federal grants•Artists painted murals on public buildings

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New Deal’s Legacy•Public Works and Federal Agencies

▫All designed to help Americans•Social Security to help old and disabled•Restored hope