1. The Roaring 20’s Economic Boom, Social Changes, Prohibition, and Republican Domination

2. Economics of the 1920’s Agriculture: Decline of agriculture in America: –1918- 16% of nation’s wealth –1920- 9% of nation’s wealth 1/3 of population is broke

3. America Economic Boom Automobile industry spurs other industries: rubber steel petroleum chemicals mechanics/garages Henry Ford: Revolutionizes production w/ assembly line

4. Other key industries: Appliances Chemicals Other metals Entertainment Road construction Suburbia (home construction)

5. Stock Market of the 20’s Corp profits fueled by expansion…… DOW generally bullish throughout early 20’s 1928-1929: one of the greatest bull markets of all time Speculation fueled the market –Buying on margin: purchasing a stock w/ a loan and using the stock as collateral

7. Social Changes Women 1920: 19 th Amend gives women vote Women begin to challenge “accepted” role in society

8. Red Scare Anti-Radical/Immigrant Hysteria + Witch Hunt NY Assembly expels 6 mild socialists against Harding’s objection Two events epitomize the hysteria: 1.Att. Gen A. Mitchell Palmer violates civil liberties –600 deported, no habeus corpos –J. Edgar Hoover ~ Dept of Justice anti-radical division 2.Sacco & Vanzetti –Radical Italian immigrants –Wrongly accused of a botched robbery/murder –Burden of proof never meet –Gross mistrial

9. Warren G. Harding 1921-23 “return to normalcy” “Ohio Gang” No personally corrupt, but perhaps the most corrupt admin “Do nothing Pres”

10. Calvin Coolidge 1923-1929 silent cal “puritan in Babylon” “the business of america is business”

11. Herbert Hoover 1929-1933 Competent! Sec of Commerce ’20-’28 Gets bad rap as conservative, but truly progressive

12. Andrew MellonMellon Sec of Treasury ‘21-’32 Laissez faire: –Cut taxes –’32: advises H.H. to purge system of rottenness

13. by 1929 US income greater than: Brit Ger France Japan Canada And 17 other countries…….COMBINED