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Too Much Cotton
Cotton prices at New Orleans peaked at 42 cents a pound, which prompted Southern farmers to plant the largest crop in history. The resulting overproduction caused a collapse in prices, with cotton falling to less than 10 cents a pound by early 1921. Cotton farmers toiled in near-depression conditions throughout most of the 1920s and 30s. -
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The 1920's Timeline of Important Dates
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Palmer Raids
The Palmer Raids begin, launching an intense period of government prosecution of radical political dissidents (rebel against gov.) in response to the postwar Red Scare sweeping the nation. This trend of government prosecution was thankfully not persistent and ended before 1921. -
Immigration Quota Established
Congress passes immigration restrictions, for the first time creating a quota for European immigration to the United States. Targeted at "unwanted" immigrants from Southern and Eastern Europe, the act severely limits the quota for those areas while keeping a generous allowance for migrants from Northern and Western Europe. This quota was severely discriminating towards immigrants who previously become citizens, as they were treated poorly by native born citizens (Americans). -
Tariffs Up
Congress passes the "Fordney-McCumber" Tariff, raising tariffs to protect the American market for American manufactures. The tariff boosts the domestic economy of the Roaring '20s, but it also worsens the crisis for struggling European economies like Germany's. Which then helped to enable Adolf Hitler's rise to power there on a platform of economic grievance. -
German Reparations
Germany, burdened by reparations payments due to the Treaty of Versailles, suffers hyperinflation (monetary inflation moving very fast). One American dollar is now worth 7,000 German marks. This transition crushes Germany's economy. -
Ford Motor Company
Ford Motor Company, founded in June 16, 1903, in Detroit, MI, exceeds 1 billion dollars in market capitalization. Aiding the initiation of a mass consumption/production era. Ford, at this time, has 2 separate divisions not including Ford. This being Lincoln and Motorcraft. -
The Great Gatsby Published
F. Scott Fitzgerald publishes The Great Gatsby. An American novel that follows a cast of characters living in the fictional towns of West Egg and East Egg on prosperous Long Island in the summer of 1922. This novel was directed into a film in 2013 by director, Baz Luhrmann. -
Lindbergh's First Solo Transatlantic Flight
Aviator Charles Lindbergh completes the first solo transatlantic flight, landing his Spirit of Saint Louis in Paris 33 hours after departing from New York. Lindbergh becomes a national hero. Charles Augustus Lindbergh, nicknamed Lucky Lindy, The Lone Eagle, and Slim, was an American aviator, military officer, author, inventor, explorer, and environmental activist. He lost his life in 1974. -
Babe Ruth Hits 60th Home Run
George Herman "Babe" Ruth Jr. was an American professional baseball player whose career in Major League Baseball spanned 22 seasons, from 1914 through 1935. This New York Yankees star hits his 60th home run of the season, breaking his own record of 59. Ruth's record will stand for more than 30 years. -
Hoover Elected as President
Herbert Hoover, running on a slogan of "A chicken in every pot, a car in every garage," is elected to the presidency, crushing Catholic Democrat Al Smith to maintain Republican dominance of the Oval Office. Herbert Hoover was an American engineer, businessman and politician who served as the 31st President of the United States from 1929 to 1933 during the Great Depression.
