the roaring twenties part 2 politics and prosperity
TRANSCRIPT
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The Roaring Twenties Part 2
Politics and Prosperity
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Karl Marx
1818 - 1883
Wrote the Communist Manifesto in 1848
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Communism• A political and economic ideology
– Government ownership of all land and property
– A classless society where wealth is distributed according to people’s needs
– A single political party controlled by the government
– The country’s needs are always more important than the individual
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Origins and ideas of Communism and Socialism
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Bolsheviks
• Communists rebels who overthrew the Russian government in Nov. 1917
• Russian word for “majority”• Led by Vladimir Lenin• Their emblem was a red flag• Their army was called the Red Army
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Vladimir Lenin –Leader of 1917 Bolshevik Revolution in Russia
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Lenin dies in 1924 – Body encased in glass mausoleum
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Lenin’s embalmed body
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The Red Scare• An intense fear of communism and
other radical political ideas that spread through the U.S. in the 1920’s
• Triggered by Communist take-over of Russia and Hungary and labor strikes in the U.S.
• Suspected communists were arrested and charged with sedition
• Many were jailed, removed from office, or exiled
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Immigration During the 20’s
• Emergency Quota Act said admission to the United States was based on immigrants’ ethnic identity and national origin.
• National Origins Act of 1924 exempted Mexicans from the quota system
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Red Scare
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Sedition
Any action or language that incites rebellion against the
authority of the government
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The Red Scare:
Democracy in danger?
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Anarchists
People who oppose any form of political
authority
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Sacco-Vanzetti Trial• April 1920 – Braintree, MA• Guard and paymaster at a shoe factory
were robbed and killed• 2 Italian immigrants were arrested• Convicted and sentenced to death• Many believed that it was fear of their
radical anarchist political beliefs that led to an unfair verdict
• April 1927 - Both were electrocuted after years of appeals
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Bartolomeo Vanzetti & Nicola Sacco
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The guilty verdict was protested
internationally
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A mob in Mexico protests the execution
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The American Civil Liberties Union
• founded during the Red Scare (1919–1921) because the accused needed advocates to ensure their civil rights
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Eugene Debs
• Ran for president on a platform of socialism
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Warren G. Harding
• 29th President• 1921 – 1923
• Republican• From Ohio• Campaign called
for a return to “normalcy”
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“Normalcy”
Harding’s suggestion that the U.S. wished to return to a calm, normal way of life after the stressful events of the previous decade, such as Progressivism, World War I, and the Red Scare
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Normalcy
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Harding’s Policies
• Isolationism – U.S. would not join the League of Nations
• Disarmament – nations should voluntarily give up their weapons
• Immigration restrictions• Tariffs raised to protect American
business from foreign competition
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Teapot Dome Scandal
• Harding’s Secretary of the Interior, Albert Fall, gave drilling rights on government owned naval oil fields in Wyoming to 2 private oil companies
• Received nearly $400,000 illegally• No evidence that Harding was involved• Fall was fined $100,000 and sentenced
to a year in prison
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Teapot Dome, Wyoming
The Ohio Gang was blamed: Harding's buddies
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Whom is this
cartoonist blaming for the Teapot Dome
scandal?
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Effects of Scandals
a. began to have distrust for the elected officials
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Calvin Coolidge• 30th President• 1923 - 1929
• Republican• Massachusetts• VP under Harding -
Takes office when Harding dies in Aug. 1923
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Calvin Coolidge• A man of few words –
“Silent Cal”• “The chief business
of the American people is business.”
• Took a laissez-faire approach to business
• The government should leave business alone and let it grow
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Kellogg-Briand Pact
• 1927 - Agreement written by U.S. Secretary of State, Kellogg, and French Foreign Minister, Briand
• 60 nations pledged not to use the threat of war against each other
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Factors that led to the Boom
• Treasury Secretary Andrew Mellon persuaded Congress to stimulate the U.S. economy by Reducing federal taxes
• Buying of Stock= Stocks allowed business to expand
• New technologies (like the radio leading to consumerism and the automobile)
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Consumer Economy
An economy that depends
on a large amount of
spending by consumers
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What are consumers and producers?
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Larger profitsfor business
Wages for workers increase
People consume products
Consumer Economy
Cycle
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GNP Increased• Gross National Product• The measure of a country’s
productivity• The total value of goods and
services produced annually
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New Electric Gadgets Available to the American
Consumer
• Radios• Toasters
• Vacuum cleaners • Sewing machines
• Refrigerators • Coffee pots
• Ovens• Irons
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1920’s General Electric
Electric Range
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Electric refrigerators replaced “iceboxes”
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Catalogs sold everything for the home – including the home
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And what was the greatest
invention of the age?
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Henry Ford
• 1896 – invented the quadricycle
• 1899 – started the Detroit Automobile Company – made 22 cars
• 1900 – business failed
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Henry Ford
• 1901 – There were over 50 companies making cars, but only the wealthy could afford them
• Ford wanted to “democratize the automobile” by making them cheaper
• 1903 – Started the Ford Motor Company
• Mass produced the Model T using assembly line production
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Assembly Line
• A process in which each worker completes a single specific task in the production process
• At the end of the line, the product is complete
• Ford’s assembly line produced a Model T every 24 seconds
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How did Henry Ford convince investors to
back his plan to produce cheap reliable
cars after his first venture had failed?
Question -
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Answer
Ford, at the age of 38, entered a race against the most famous racer in the country, Alexander Winton.
Ford’s “Sweepstakes” had 26 horsepower.
Winton’s “Bullet” had 70 horsepower.
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In a 10 lap race, Ford came from behind in the 7th lap to beat Winton by a wide margin, averaging 45 mph.
What made the difference?
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Winton’s car began to misfire badly, but Ford’s car had a spark coil insulated with a porcelain case designed by a dentist. (The forerunner of the spark plug)
Ford won $1000 and a punch bowl, and found financial backers for his new car company.
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Ford gaining on Winton in Oct. 1901 race in Grosse Point, MI
Ford (the man)
Ford (the car)
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Henry Ford’s “Sweepstakes”2 cylinders – 539 cubic inches – 26 hp –
top speed 72 mph
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Ford and the 1921 Model T
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Model T – 15 million sold between 1908 and 1927
1927 Model
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1923 Ford Grain Truck
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The Automobile
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How did Americans afford
all these new toys?
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Installment Plans• Manufacturers attracted consumers by
allowing payments over time• Dramatically increased demand for goods• Items most likely bought on credit:
– Cars– Furniture– Vacuum cleaners, radios, refrigerators– Washing machines
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Speculation• The practice of making high-risk
investments in hopes of getting a huge return
• The rapid rise of stock prices throughout the 1920’s convinced people that they could “get rich quick”
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Buying on Margin• Common people with little money
would buy stocks by putting 10 – 50 percent down and borrowing the rest owed
• If the stocks went down in price, the investor still owed the full amount for them plus the interest on the loan
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Welfare Capitalism• In order to prevent more labor
strikes, employers began to improve conditions by offering– Higher wages– Paid vacations– Health insurance– English classes
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Consumerism in 20’s
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Herbert Hoover
• 31st President• 1929 – 1933• Republican• New York• Continued to
keep government out of business
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