-
Period: to
The 1920s
All about the Roaring 20s and what it was like to live in a post-war economy on the rise. -
Prohibition In the U.S.
The Prohibition was the banning of all alcoholic beverages in the U.S. that lasted throughout the 1920s and was in effect up until 1933. The government wanted to solve the U.S. drinking problem by flat-out banning all alcohol. This backfired horribly by inadvertently creating a huge underground market for alcohol. Not only was alcohol being sold at a rate much higher than it ever had before, but people were finding ways to make alcohol even stronger which made drinking all the more dangerous. -
Post WWI Recession Ends
A recession started in 1919 following the events of WWI. Production in many important industries was down by a massive amount. The automobile industry, for example, was down 60% during this 18 month period after the end of WWI. July of 1921 marked the official end of this recession and started the trend of economic growth that would award the 20s with its alternative name "The Roaring 20s". -
Fordney-McCumber Tariff Established
The Fordney-McCumber Tariff placed tariffs on many different imported goods in an attempt to protect factories and farms. This also involved promoting foreign trade by loaning Europe huge amounts of money. This tariff brought more goods to the U.S. but had some inverse affects a few years later. Five years after the tariff was established U.S. trading partners also raised their tariffs on our exports. According to the American Farm Bureau, farmers ended up losing around $300 million annually. -
The Economy Is On the Rise
After WWI ended the economy wasn't in the best shape. The early years of the 1920s were spent trying to return to normalcy after the war spent a lot of our time and resources. Tariffs and other economic actions were taken to help improve the post-war economy which helped create the booming economic decade the 20s ended up being. Eventually due to foreign trade acts passed more goods were being brought into the U.S. by 1923. 1923 marks a return to normalcy and the start of an economic expansion. -
President Coolidge Restricts Immigration for Economic Purposes
In 1924 President Calvin Coolidge passed laws restricting immigration from certain European countries such as Italy and Russia. This meant that less people would be coming in and working in U.S. factories and other jobs. This opened the floor for a lot of Black Americans to get jobs normally filled by European immigrants. -
Tax Rates Change
In 1925, while much of the world was still recovering from WWI, the U.S. lowered tax rates to 25%. Corporate tax rates, however, were raised to 13%. -
Radio Sales Skyrocket
The 1920s was a time of huge growth for the rado business. More and more people started buying radios after many people were returning to normalcy after WWI. Radio companies and stations starting popping up everywhere. An estimated 100 million radios were sold during the 1920s as it was the main source of entertainment and news for people now. Radios became a huge part of our economy and helped contribute to the expansion period that lasted up until the Great Depression. -
Henry Ford Reveals The Model A (Automobile Industry Is Booming)
In 1927 Ford revealed his design for the Model A car. The 20s marked a period of huge growth for the automobile industry. As more and more people moved to the suburbs they needed cars to drive in to work. More affordable car models made for the average worker started getting made and cars established their role in the U.S. economy. The 20s really established how present cars in our everyday lives and how much the market contributes to the economy. -
U.S. Economy Has Grown 42% Throughout The 20s
By the end of 1920s the U.S. economy was measured to have grown 42%. After the end of WWI in 1918 a return to normalcy helped the 20s become a booming economy. Up until eh stock market crash in 1929, americans were buying more and the economy was expanding. New inventions like the radio, telephone, and automobiles were become more and more available to the average worker. The 20s economy helped allow people to by radios, phones and cars for the first time. -
The U.S. Stock Market Crashes
Although the U.S. economy was had a big period of growth and expansion after returning to normalcy after WWI, the stock market crashed in 1929. This was the start of what's now known as the Great Depression. This stock market crash set into a chain of events that would lead most U.S. citizens, and citizens of other European countries, to become extremely poor. Poverty was rampant throughout the world and the economy seemed like it would never approve.
You are not authorized to access this page.