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The Roaring 20's
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1920's
More people lived in city instead of on farms. People started making more money. The 1920's brought more conflict instead of celebration for some people but for younger people it was a happy time. Flappers were popular, they had frilly dresses, smoked, drank, had their hair all done up, and spoke "unladylike" things. People had extra money to spend. So people bought radios, electric refrigerators, clothes, and other non necessities. -
Stock Market Crash
Economic recession: People stopped spending money so all the goods stores and factories have been making have not been getting sold. Investors sold off their stocks because they were going down. Thursday, October 1929 12.9 million shares were traded away- known as Black Thursday. 5 days later- Black Tuesday 16 million more shares were traded away. Because of this panic swept WallStreet. -
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The Great Depression
It wasn't just Americans that suffered, it effected a lot of people around the world. It was the longest economic downfall in history. Stock market crashed. People didn't invest a lot of money. -
Franklin D. Roosevelt
F.D.R. won a victory over Herbert Hoover (presidency). Hoover didn't want to deal with depression. Economic depression- Adolf Hitler. Raises taxes. Global trade lost 65%. Germany thought Hitler was charismatic- believed in him -
American Unemployment
Close to 15 million Americans were unemployed and about half of the country's banks had failed. -
Social Security
Social Security Act is passed by Congress. This Act gives government access to your money (pay it so you have emergency money)save your money for you so when you're retired you can live conformably. -
Cancelled Contracts
After WWI the government cancelled contracts from companies that made weapons and things that were needed after the war. That stunk for those companies because a lot of people will lost their jobs and the companies go out of business. The demand for war things dropped. The economy continued to grow under the rule of the new president. -
Women's rights
The 19th amendment gives women the right to vote. Millions of women got jobs, most had office type jobs and were allowed to participate in more activities, they had better lives. -
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People started going to the movies and listening to the radio (spread news and culture). -
Social Conflict
Conflicts between city dwellers and small town residents, Protestants, Catholics, blacks, whites, and flappers and old fashion family values. -
Automobile & Dancing
The automobile was the next big thing. It gave people the chance to get places faster. It was about $250 for a car. People went to parties and bars. People danced the Charleston and had fun. -
The Volstead Act
The government closed every bar, tavern, and saloon in the U.S. The government prohibited all alcohol and gangs began to form to sell illegal alcohol.