1. Economy MSL Review Prosperity

2. Warm Up  “The U.S. Economy is cyclical.”  What does this mean to you?

3. Define the RACE strategy RACERACE

4. America’s First Gold Rush: NC Gold Rush, 1799  John Reed discovers gold in 1799 on Cabarrus County farm (17 pound nugget!)  From 1800-Civil War (1861-1865), gold mining became NC’s second largest employer and industry (second only to farming)  Immigrants moved from other countries to take part in this action.

7. California Gold Rush, 1848- 1855  Gold first discovered in California in 1848, then thousands of people a year later (known as 49ers) migrate to the area, especially San Francisco looking for gold.  Not only did people make money finding gold, but also merchants who set up shops and sold goods to settlers moving to California.

8. California Gold Rush, 1848- 1855  The Gold Rush was the largest mass migration in U.S. history. In March 1848, there were roughly 157,000 people in the California territory; 150,000 Native Americans, 6,500 of Spanish or Mexican descent known as Californios and fewer than 800 non-native Americans. Just 20 months later, following the massive influx of settlers, the non-native population had soared to more than 100,000. And the people just kept coming. By the mid 1850s there were more than 300,000 new arrivals—and one in every 90 people in the United States was living in California. All of these people (and all of this money) helped fast track California to statehood. In 1850, just two years after the U.S. government had purchased the land, California became the 31st state in the Union.

12. Roaring 1920s  President Warren G Harding (1921-1923)  Laissez –faire economic policy  Lower taxes  Balanced budget  Protective tariff

13. Other factors leading to prosperity in 1920s  Cheap fuel  Expansion of automobile industry (Henry Ford’s assembly line increase efficiency in manufacturing)  Car registrations increased from 6,679,000 to 23,121,000 between 1919-1929.)  Goods were being manufactured in greater numbers and at lower costs, which increased the demand for them by consumers)  Factories hired thousands of workers.  Expansion of electricity

14. Assembly Line

15. Greensboro, c. 1930 N. Davie and Gaston Streets

16. Prosperity Allows for Leisure  The growing economy, lower taxes, more jobs, and cheaper goods, gave Americans more money to purchase goods. Due to advances in manufacturing, Americans worked shorter hours in some cities and had more leisure time.  Americans spent 4 billion on entertainment in the 1920s, a 100% jump from the previous decade. (Ex. 100 million movie tickets a week; sports like baseball became hugely popular)

18. Fashion Changes in 1920s

19. Not All Enjoyed Prosperity of 1920s African Americans, small farmers, and other minorities continued to struggle during the 1920s due to the popular conservative belief that government should not solve social and economic problems.