Preview Sheet Unit 6: Prosperity and Depression

Transcription

1 Preview Sheet Unit 6: Prosperity and Depression 1. What adjustments did the American people face after World War I? 2. What was the US foreign policy after in the 1920 s? 3. What was the fear of Americans during the Red Scare? 4. What did President Warren G. Harding meant be a return to normalcy? 5. What were the impacts of immigration in the US in the 1920 s? 6. How did the Teapot Dome Scandal impact the Harding administration? 7. How did the Kellogg-Briand Pact support isolationism? 8. Describe how Americans used installment buying in the 1920 s. 9. What impact did Henry Ford have on society in the 1920 s? 10. What does it mean to buy stock on margin? 11. What changes occurred for women in the 1920 s? 12. What demographic changes occurred for specific groups in the 1920 s? 13. Describe the impact of Charles Lindbergh s transatlantic flight in What new methods of media were prominent in the 1920 s? 15. What artistic changes occurred during the 1920 s (Jazz, Harlem Renaissance, etc) 16. What impact did prohibition have on the development of organized crime? 17. How were racial tensions still evident in the 1920 s? 18. What was the significance of the Scopes Trial? 19. How did the Sacco and Vanzetti trial display American xenophobia? 20. How did welfare capitalism weaken the labor union movement? 21. What is the Dow Jones Industrial Average? 22. Describe the effects of Black Tuesday which led the US into the Great Depression. 23. What is the Gross National Product and what happened to it in the early 1930 s? 24. How did Hoovervilles show American resentment to Hoover s Presidency? 25. What impact did the Dust Bowl have on Americans in the mid west? 27. How did General Douglass MacArthur s actions toward the Bonus Army help Franklin D. Roosevelt win the Presidency? 28. How did Franklin Delano Roosevelt launch a greater involvement of government is the social welfare of Americans? 29. Name and describe some of FDR s New Deal programs (FDIC, SSA, NRA, FERA, WPA, REA, AAA, CCC, & TVA) 30. How did the New Deal influence deficit spending? 31. Describe the three R s of the New Deal? 32. Why did FDR try to pack the Supreme Court? Was he successful? 33. Describe the term first hundred days and how is it still used today? 34. How did the New Deal help farmers and labor. 35. Great Depression Arts: Books: The Grapes of Wrath by John Steinbeck; Movies: King Kong; Gone With the Wind; Wizard of Oz Games: Monopoly Cartoons: Mickey Mouse Radio: War of the Worlds Fireside Chats People to know Warren G. Harding Calvin Coolidge Langston Hughes Sigmund Freud Ernest Hemmingway F. Scott Fitzgerald John Steinbeck Charlie Chaplin Clarence Darrow Herbert Hoover Franklin D. Roosevelt Eleanor Roosevelt Louis Armstrong Father Charles E Coughlin Mary McLeod Bethune Huey Long Albert Fall John Scopes Sacco & Vanzetti

2 Vocabulary Unit 6 Roaring 20 s Warren G. Harding Return to Normalcy Teapot Dome Scandal Great Migration Calvin Coolidge New Trends Mass Media Installment buying Technology Flappers Harlem Renaissance Speakeasies Prohibition Bootlegging 19 th Amendment 21 st Amendment Scopes Trial Kellog-Briand Pact Consumer economy Xenophobia Sacco and Vanzetti Red Scare Palmer Raids Communism Nativism Marcus Garvey The Great Depression Welfare capitalism Black Tuesday Dust Bowl Herbert Hoover Franklin D. Roosevelt New Deal Relief, Recovery, Reform Deficit spending Schechter Poultry v. U.S.

3 The 1920 s As World War I ended, the United States was now a leading nation in the world. However many Americans wanted the US to be less involved in world affair which was evident by the Senate s rejection of the Versailles Treaty. The 1920 s would be a pivotal decade in US history. The decade s prosperity was not felt by all and the Great Depression was just around the corner in the 1930 s. A Return to Normalcy? President Warren G. Harding Harding called for life to return to the normal state it was in before WWI. This included a call for a return to a foreign policy of isolationism. Teapot Dome Scandal- Harding s Sec. of Interior Albert Fall was convicted of accepting bribes for leasing gov t land (oil preserves to oil companies). Harding s Presidency was plagued with corruption. He died in African Americans continued the Great Migration from the South into Northern cities. changes in population trends (demographics) Prosperity under President Calvin Coolidge Coolidge had a laissez faire approach to business which allowed business to boom again The Gross National Product (GNP) rose 40% and the standard of living increased. Per Capita Income (income per individual) also rose leaving many with more $$$. Coolidge supported business by allowing them to prosper and the postwar recession under Harding had soon been recovered. Who was hurt in the 1920 s? 1. Labor and Unions: government did not support strikes and courts even passed injunctions to stop strikes from happening. No MIN. WAGE or Child Labor Laws. Business began to meet some labor needs on their own like health benefits and life insurance which weakened the workers need for a union. 2. Farmers: Served as a food source for US and Europe during the War, were now overproducing which lowered prices and hurt small farmers. 3. Native Americans: Now living on reservations with little of the new technologies. 4. African Americans: Earned less than whites; segregation; revival of the KKK; lynching New Trends, Technology and Mass Media of the 1920 s 1. Automobile (Ford s Model T $300) more people bought than ever. 2. Autos lead to need for more roads to be built and decreased railroad travel. 3. Tractors replaced horses on farms 4. People began to move to the suburbs 5. People bought items on credit or installment buying (making payments) led to debt. 6. Electricity changed homes, businesses, factories, and productivity. 7. Radio brought cultures together (homogenization), served as news source, popularized music (jazz), increased interest in spectator sports, and used for entertainment / storytelling. National Broadcasting Company (NBC) formed. 8. Motion Pictures silent movies; entertainment; movie theaters 9. Leading Authors F. Scott Fitzgerald, Langston Hughes, Ernest Hemmingway, Willa Cather, Edith Wharton, & Sinclair Lewis 10. Suburban growth People moved out of the cities which led to more suburbs (transportation methods helped encourage commuting to and from the city) Airplanes: Charles Lindbergh s 1 st transatlantic flight in 1927 changed air travel led to commercial air travel & flying interests of many (Amelia Earhart 1937)

4 Cultural Aspects of the 1920 s 1. Changing role of women Many women had worked during WWI and continued to in the 1920 s. They now had voting rights and felt more liberated. Some called flappers, defined the time with their bobbed hair and raised hemlines that drank and smoked. For traditional women technology such as washing machines vacuums, stoves and refrigerators made life easier (many still faced political, social & economic restrictions) The family unit changed as well (less children and more acceptable divorce) 2. Harlem Renaissance rebirth of African American culture in Harlem (NYC) that spread nationwide with writers (Langston Hughes) and Jazz music (Louis Armstrong and Duke Ellington) 3. Organized Crime bootleggers (smugglers) and speakeasies (illegal booze clubs) contributed to making Prohibition unenforceable. Al Capone a.k.a. Scarface was the most popular of the organized crime networks in Chicago that smuggle alcohol as well as gambling and prostitution. Prohibition was repealed by the 21 st Amendment passed in Religious Issues: Due to war and the advances in science people began to question the traditional religious beliefs. Out of these new beliefs fundamentalism grew leading to revivals and support for literal interpretations of the Bible. Scopes Trial (Monkey Trial) 1925 trial of biology teacher John Scopes who deliberately broke a Tennessee law that prohibited the teaching of Darwin s theory of evolution. The trial gained national attention as Clarence Darrow represented Scopes and William Jennings Bryan sided with the fundamentalist or religious view. Scopes lost the case and was fined $100, but the arguments made in the case hurt fundamentalism (Inherit the Wind is based on the Scopes Trial) Politics Presidents of the 1920 s: Warren G. Harding, Calvin Coolidge, & Herbert Hoover All were Republicans and had majorities in both Congress and the Courts. They were for big business and social stability. Former President W.H. Taft was appointed Chief Justice under Harding. Each tried to keep the US out of foreign affairs. Kellog-Briand Pact passed in 1928 was an agreement by 15 nations to not use war as a threat over other nations (later had 60 nations that agreed to it), but World War II ended this unrealistic agreement. In 1922, the Soviet Union (USSR) formed under Lenin. Economics Many people bought from retail stores on credit or installment buying (new products radios, vacuum cleaners, sewing machines irons, coffee pots, toasters, ovens). These products were made by GE (General Electric) which evolved from Edison s power plant and electric light business in The US developed into a consumer economy because it depended largely on people s buying power. Stock market speculation increased as the stock market boomed and people continued to buy stocks on margin (borrowed money from brokers to pay for stocks). People felt comfortable with the bull market and many saw profits, but were unaware that a bear market was just around the corner. Some invested their life savings; some put some money in banks. Many people enjoyed prosperity in the 1920 s, but the Stock Market Crash of 1929 would bring the Roaring 20 s into a Great Depression.

5 The Great Depression On October 29, 1929, the stock market crashed. The day would go down in history as Black Tuesday. As a result of the crash, series of economic troubles would lead the nation into the Great Depression of the 1930 s. The federal government under President Franklin Delano Roosevelt would begin a series of New Deal government programs that would involve the government in the economy more than it ever had before. Economics Before the Depression Welfare capitalism labor relations where businesses raised wages, provided benefits, (paid vacations & health plans). This hurt labor unions. Wealth was distributed unevenly (% of rich was less than 1% of population) and 80% of families had no saving and just enough to get by. Installment buying allowed people to buy the latest products. Stocks were purchased on margin and people took higher risks to earn higher profits. There were too many goods and too little demand (overproduction) Farmers and workers were not doing well but big business was. Black Tuesday, Oct. 29, 1929 Stock market crashed coupled with a variety of other economic problems would lead the US into the Great Depression. The crash exposed a weakness in the economy (market, banks, lack of government law) The crash is known as the Great Crash. Effects of the Great Crash The Gross National Product or GNP (value of nation s annual production) dropped Businesses cut their work forces leaving millions unemployed. Banks that had money invested in the market closed due to losing money (people were left without their savings if the bank shut down). Global economy failed (many countries felt the impact of the depression in the US). Dust Bowl the Great Plains region was plagued with drought and dust storms leaving the farm economy in jeopardy (made famous by John Steinbeck s Grapes of Wrath) Social and health problems develop as people live in poverty. President Herbert Hoover s Reaction to the Depression Hoover wanted to remain as hands off the economy as possible. He favored programs that aided businesses rather than the people with the belief that the benefits would trickle down to the people. Bonus Army- name given to unemployed WWI veterans who demanded their war bonuses early. Hoover sent the army to break up their Wash DC protest blaming them for being influenced by communists (Gen. Douglas MacArthur led camp raid) Hoovervilles - homeless shanty towns of cardboard and tin named after the President that many felt was not doing enough for the people. By 1932 unemployment was at 25% for whites and African American were double that. Turning Points: The Election of 1932 Franklin D. Roosevelt (Democrat) easily won the Presidency from Hoover in He pledged a new deal for the American people. FDR calmed Americans by saying the only thing we have to fear is fear itself. His wife Eleanor would forever change the role of First Lady by keeping in close contact to the needs of the people and writing a newspaper column. FDR and his brain trust of advisors felt that to fix the economy a new deal of federal assistance would be needed for RELIEF, RECOVERY, AND REFORM. The result would be the most hands on approach to the economy and people s lives that would change the role of government and laissez faire policies.

6 FDR s Presidential actions during the Depression FDR was elected for 4 consecutive terms (he died during his 4 th in 1945). In his first hundred days in office he pushed through many gov t programs to create jobs for the unemployed. Since then, Presidents are rated after their first 100 days. FDR closed the banks down ( bank holiday ) in March of 1933 to help get the banking system reorganized. By June, the Federal Deposit Insurance Corporation (FDIC) was created to restore confidence in the nation s banks (gov t insured deposits up to $5,000 ($100,000 today). The FERA or Federal Emergency Relief Association was set up to provide funds to local agencies to create jobs. Public s works programs also created jobs with the help of the CWA or Civil Works Administration to build roads, parks airports. The CCC or Civilian Conservation Corps was also a used to create jobs for parks, plants trees, and other environmental projects. Other early NEW DEAL PROGRAMS include the TVA, AAA, NRA, PWA, (1933) After the immediate relief of the first part of the New Deal, a Second New Deal was named as newer programs led into more recovery and reform. In 1935 both the Works Progress Administration or WPA, and Social Security Act or SSA were created. The Wagner Act (Fair Labor Relations Act), allowed for collective bargaining and guaranteed the right of workers to form unions. The Fair Labor Standards Act in 1938 established a minimum wage, limited work hours for interstate commerce jobs, and ended child labor in the same field. Critics of the NEW DEAL Women: Many of the opportunities for jobs were offered to white men. Minorities: Many received only the lowest job level while whites got the higher level mainly in the South. Some African Americans did support FDR because he did appoint many as advisors in the black cabinet. Republicans and Big Business the New Deal involves the government too much in the economy. New Deal programs were too much like socialism and taxed the wealthy too much to provide for the poor. The American Liberty League formed in 1934 to publicly oppose the New Deal. Socialists and Progressives felt the New Deal was not doing enough for Americans and wanted more government intervention. Some did not like the idea of deficit spending. FDR s Court Packing Attempt After the NRA was declared unconstitutional (Schechter Poultry Corp. v. United States) in 1935 and later the AAA (United States v. Butler) in 1936, FDR made his most controversial move. FDR tried to increase the number of Supreme Court Justices in order to appoint his supporters to the court so that New Deal Programs would no be struck down. His actions were viewed as a violation of the separation of powers and his packing attempt failed. Evaluating the New Deal The New Deal helped Americans get through the Depression, but did not end it. World War II really gave the economy the boost it needed to get out of the Depression. FDR strengthened the role of the President due to his increase of gov t programs. The New Deal strengthened the role of the federal gov t in our lives. The New Deal helped preserve free enterprise (other nation s may have had revolutions)

7 Review Sheet: Prosperity & Great Depression 1. List two characteristics of the U.S. in the 1920 s for each category. Political Economic Social 2. What factors hurt US agriculture during the 1920 s? 3. How does the Federal Reserve Board stimulate the economy? 4. Explain how installment buying and an unregulated stock market resulted in economic boom and financial speculation. 5. Describe the following terms of the 1920 s: return to normalcy : Red Scare: Scopes Trial: Harlem Renaissance: Gross National Product: 6. Describe the common tie to the Sacco & Vanzetti case, the Red Scare and the revival of the KKK. _ 7. How were the 1920 s similar to the 1960 s socially? 8. How did Hoover and the Republican Party respond to the economic hardships experienced after the stock market crash of 1929?

8 9. What are the 3 R s of FDR s New Deal? Describe each. _ 10. What were some of the criticisms of FDR s New Deal? 11. Describe the importance of each during the Great Depression: Wagner Act: Social Security: FDIC: Securities & Exchange Commission (SEC): NRA: PWA: deficit spending: 12. How did the overproduction of goods by factories and farms contribute to the economic losses of the Depression? 13. What is interdependence and how was this evident within the global economy in the 1930 s? 14. What was the significance of the Supreme Court s decision in the Schechter Poultry v. United States decision?

9 15. How was FDR s attempt to increase the size of the Supreme Court seen as violation of the separation of powers? _ 16. What are escapists novels and movies and how do they reflect the time which they were created? _ 17. How does the New Deal represent a major change in the way government involved itself in the economic and social affairs of the nation? 18. Why do some historians find it hard to evaluate the effectiveness of the New Deal to end the Great Depression? 19. What is the fundamental difference between the trickle down theory followed by Hoover and FDR s prime the pump philosophy in economics.