IT S STORY TIME! UNIT 7 THE ROARING 20 s 1921-1929 Part 1 A Clash of Values; Nativism, Immigration Quotas, New Morality, Women, Fundamentalism & Prohibition Part 2 Cultural Changes; the Arts, Sports, Film & Mass Media Part 3 Harlem Renaissance & Back to Africa movement Part 4 Presidential Politics; Harding & Coolidge Part 5 Growing Economy; Automobile, Credit & Farm Crisis Part 6 Policies of Prosperity, Trade & Arms Control
The POLICIES of PROSPERITY
REMEMBER SIGNIFICANT EFFECT of WWI on ECONOMY of U.S. = U.S. emerged from WWI as STRONGEST INDUSTRIAL POWER in the WORLD U.S. becomes = WORLD s largest CREDITOR NATION!
PROMOTING PROSPERITY under Pres s HARDING, COOLIDGE & HOOVER
Andrew MELLON s - SEC. of TREASURY - POLICIES believed GOVERNMENT should use BUSINESS PRINCIPLES! convinced CONGRESS to create both BUREAU of BUDGET = prepare unified FEDERAL BUDGET GENERAL ACCOUNTING OFFICE = track GOV T SPENDING SUPPLY-SIDE ECONOMICS 3 MAJOR GOALS = balance BUDGET, reduce GOV s DEBT, cut TAXES w-lower TAXES = BUSINESSES & CONSUMERS spend & invest their extra $$$ = ECONOMY grows As ECONOMY grows AMERICANS earn more $$$ = GOV T actually collects MORE TAXES at LOWER RATE than it would if it kept the TAX RATE HIGH!
PROMOTING PROSPERITY As SECRETARY of TREASURY during the 1920 s, Andrew MELLON s POLICIES = encouraged ECONOMIC GROWTH Q-64a
PROMOTING PROSPERITY As SECRETARY of TREASURY during the 1920 s, Andrew MELLON s POLICIES = led to STOCK MARKET BOOM Q-64b
Former FOOD ADMINISTRATOR under Pres. WILSON Herbert HOOVER = Sec. Of COMMERCE served under both HARDING & COOLIDGE
Herbert HOOVER s - SEC. of COMMERCE - POLICIES tried promote ECONOMIC STABILITY in various INDUSTRIES by BALANCING GOV T REGULATION w-own philosophy of COOPERATIVE INDIVIDUALISM = encouraged MANUFACTURERS & DISTRIBUTORS to form their own TRADE ASSOCIATIONS = voluntarily share INFORMATION w-gov T to assist AMERICAN BUSINESSES, also created other AGENCIES expanded BUREAU of FOREIGN & DOMESTIC COMMERCE = find NEW MARKETS & BUSINESS OPPORTUNITIES for AMERICAN companies. established BUREAU of AVIATION = regulate & support AIRLINE INDUSTRY established FEDERAL RADIO COMMISSION = set RULES regarding RADIO FREQUENCIES & RADIO TRANSMISSIONS
BOULDER DAM later renamed HOOVER DAM
ARMS CONTROL & ISOLATIONISM
ISOLATIONIST TERM used to describe U.S. FOREIGN POLICY after WWI RESULT of FEAR of entangling alliances = U.S. pulled away from, wanted to STAY OUT of WORLD AFFAIRS
TRADITIONAL U.S. FOREIGN POLICY was to AVOID FOREIGN ENTANGLEMENTS It is our true policy to steer clear of permanent alliances with any portion of the foreign world PRESIDENT WASHINGTON 1796
I sympathize deeply with you, Madam, But I cannot associate with you. 1923 President Harding s Secretary of State Charles Evans HUGHES broke the news to a desperate war-tattered EUROPE that AMERICA was going, and staying, HOME!
ANNIE CHARACTER from CARTOON Little Orphan Annie = symbolized AMERICA s FEAR of ENTANGLING ALLIANCES
ANNIE 1 st published- Aug. 1924 ANNIE represents ISOLATIONISM U.S. FEAR of entangling alliances ORPHAN w/out relatives w/out entanglements = FREEDOM to do what she wants & go where she pleases
ECONOMIC CRISIS in EUROPE WAR DEBTS U.S. had loaned ALLIES MONEY during WWI & demanded PAYMENT ALLIES needed to get MONEY from GERMANY to pay the U.S. GERMANY, IMPOVERISHED as RESULT of WWI, NOT able to pay REPARATIONS
POST WWI - ECONOMIC CRISIS in EUROPE - GERMANY defaulted (unable to make payments) on promised REPARATIONS to ENGLAND & FRANCE - End 1922, FRENCH TROOPS marched into GERMANY s industrial RUHR VALLEY = hoped to EXTORT REPARATIONS 1924, DAWES PLAN U.S. PLAN to = help GERMANY & our FORMER ALLIES (BRITAIN & FRANCE) deal with DEBT & REPARATIONS PAYMENTS. = AMERICAN BANKS would LOAN $$$ to GERMANS so that they could make their REPARATIONS PAYMENTS to BRITAIN & FRANCE. Same time, BRITAIN & FRANCE promised accept LESS REPARATIONS from GERMANY & PAY MORE on their WAR DEBTS to the U.S. Well-Intended, but = did little to ease EUROPE s ECONOMIC problems LASTED until =1929, STOCK MARKET crash - start GREAT DEPRESSION
The U.S. introduced Q-65 = 1924 DAWES PLAN in order to avoid NEW WAR in EUROPE! DAWES PLAN allowed = U.S. BANKS to loan GERMANY $2.5 billion WHY??? = so that GERMANY in turn could use this $$$ to pay REPARATIONS to BRITAIN & FRANCE
Q-66 1924 DAWES PLAN was ATTEMPT by U.S. to COLLECT WAR DEBTS by = making LOANS to GERMANY so that THEY could MEET their REPARATIONS PAYMENTS
FINANCIAL MERRY-GO-ROUND IMPORTANT for U.S. that = EUROPEAN ECONOMIES be HEALTHY so that EUROPEANS could buy U.S. EXPORTS & REPAY WAR DEBTS
ATTEMPTS at DISARMAMENT in the 1920 S CHARLES EVANS HUGHES
WASHINGTON DISARMAMENT CONFERENCE Dec. 1921 Sec.of State-Charles HUGHES 5 MAJOR NAVAL POWERS U.S., Great Britain, Japan, France, Italy = established 10 yr. BAN on building new battleships = scrap significant proportion of battleships, cruisers, aircraft carriers = 1 st TIME NATIONS AGREE TO DISARM
WASHINGTON CONFERENCE HARDING s disarmament mtg. 1921-1922 5 major NAVAL powers-u.s., Great Britain, Japan, France, Italy (excluded Bolshevik Russia) double AGENDA - NAVAL DISARMAMENT-LIMITING WEAPONS of WAR - volatile situation FAR EAST;JAPAN & GREAT BRITAIN = established 10-yr. BAN/ HOLIDAY on CONSTRUCTION of new BATTLESHIPS = SCRAP- get rid of significant proportion of BATTLESHIPS, CRUISERS, AIRCRAFT CARRIERS, = 1 st time NATIONS AGREE to DISARM
1925 WHITE HOUSE CONFERENCE on CAUSES & CURE for WAR - Pres. COOLIDGE - Many AMERICANS were interested in PREVENTING FUTURE WARS
KELLOGG-BRIAND PACT 1929 TREATY signed by 64 NATIONS, including U.S. agreed RENOUNCE WAR as means of solving INTERNATIONAL DISPUTES = AGREEMENT-PLEDGE to OUTLAW WAR as NATIONAL POLICY = CONSISTENT w-u.s. REFUSAL- NO to join LEAGUE of NATIONS! Q-67
AFTER WWI, the U.S. Q-68 REFUSAL to join LEAGUE of NATIONS PARTICIPATION in WASHINGTON CONFERENCE SIGNING of KELLOGG-BRIAND PACT are ALL CONSISTENT ACTIONS because STAY OUT of WAR! = represented U.S. EFFORTS to STAY OUT of FUTURE WARS!
6 SIGNS that PROSPERITY of 1920 s was SUPERFICIAL Q-69 DEPRESSED FARM SECTOR OVERPRODUCTION, UNDERCONSUMPTION in AGRICULTURE & INDUSTRY UNEQUAL DISTRIBUTION of WEALTH (RICH getting richer, POOR getting poorer = led to LOW DEMAND) WAR DEBTS & HIGH TARIFFS (restricts foreign demand for AMER goods) led to decline in INTERNATIONAL TRADE OVER-SPECULATION & INVESTMENT in STOCK MARKET LARGE # of PRODUCTS purchased on CREDIT = FLAWS became more visible after STOCK MARKET CRASH!
Q-70 Let s REVIEW DISCUSSION of the 1920 s would include UNION MEMBERSHIP dropped considerably due to STRIKES QUOTA ACTS passed due to INTOLERANCE towards IMMIGRANTS (NATIVISTS & KKK) & the decreased demand for LABOR. Formation of ACLU AMERICAN CIVIL LIBERTIES UNION NEW ROLES for WOMEN; voting (19 th Amend), flappers (Charleston), Rise in CHRISTIAN FUNDAMENTALISM; Sunday, McPherson, Scope s Trial PROHIBITION (18 th Amend) & the growth of ORGANIZED CRIME WRITERS (Lost Generation), POPULAR CULTURE & MASS MEDIA HARLEM RENAISSANCE; Writers (Hughes & Hurston), Music (Jazz & Blues) BACK TO AFRICA movement; Marcus Garvey Impact of the AUTOMOBILE; highways, suburbs, dating, buying habits, A RISE in CONSUMER SPENDING due to EASY CREDIT DECREASED PROSPERITY for AMERICA S FARMERS ISOLATIONISM & attempts to ABOLISH WAR (Washington Conf, Kellogg-Briand Pact)