H102 Lecture 15_ The Politics of Prosperity_ The 1920s

H102 Lecture 15_ The Politics of Prosperity_ The 1920s -...

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Unformatted text preview: 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s S an le K. Sch l , P o fe o o f Hi o W illiam P. Ti h le , P o d ce Lec re 15 The Politics of Prosperit : The 1920s W o ld W a I ma n o h a e mad e h e o ld afe fo d emo c ac , b i d id h elp o la h e g o n d o k fo a d ecad e o f A me ican eco n o mic e p an io n . Th e 1920 a h e g o h o f h e c l e o f co n me i m--man A me ican b eg an o o k fe e h o , ea n h ig h e ala ie , in e in h e o ck ma ke , an d b e e h in g f o m a h in g mach in e o M o d el T Fo d . Th e c l e o f co n me i m o f h e 1920 ch an g ed h e p o li ic o f A me ican o cie an d e h e o n e fo A me ican a i d e ab o mo n e in co min g d ecad e . S ome ques tions to k eep in mind: 1 . What role did new technolog pla in s haping the econom of the 1 9 2 0 s ? The culture of the 1 9 2 0 s ? 2 . Compare the relations hip between big bus ines s and g overnment during the 1 9 2 0 s to that of the Gilded Ag e. 3 . How did the nation's las ting love affair with the automobile affect American s ociet ? The American econom ? 4. If Ronald Reag an, Herbert Hoover, and Andrew Mellon walk ed into a bar where a s ig n s tated, "S orr , our drink s don't trick le down" who would be the firs t to leave? The Afte rmath of World War I Th e d ecad e o f h e 1920 , o a i a called b i co n emp o a ie , " Th e Ne E a," a ma ked b p o p e i an d n e o p p o n i in h e af e ma h o f W o ld W a I. Th e a b eg an in E o p e in 1914, an d h e Un i ed S a e en e ed h e f a in 1917. A ig n ifican ea o n fo Un i ed S a e in o l emen in h e a a h e n a io n ' eco n o mic lin k o h e A llied Po e , an d e p eciall o G ea B i ain . W all S ee fin an cial in i io n ch a h e Ho e o f M o g an h ad g i en lo an o G ea B i ain o alin g o e $2.3 b illio n . A a e l , W all S ee fea ed a B i i h d efea e en mo e h an M ain S ee . Befo e 1917, A me ican p b lic o p in io n ab o h e a a g en e all d i id ed alo n g e h n ic lin e . Old - o ck A me ican o f A n g lo -Sa o n h e i ag e e e o n h e id e o f B i ain an d F an ce. A me ican o f Ge man h e i ag e an ed h e Un i ed S a e o emain n e al. M an A me ican i h ie o Ea e n E o p e, ch a R ian an d Po li h Je , al o p p o ed Ge man , h ich , p o h a ime, h ad b een mo e o le an o f elig io min o i ie h an ei h e a i R ia o h e n a io n o f W e e n E o p e. Th e Un i ed S a e , ill o fficiall n e al, mo l ig n o ed B i i h ea ch an d ei e o f A me ican h ip fo o ea o n : 1. Th e Ge man ma ke a n o a imp o an a ei h e h e F en ch o h e B i i h ma ke . 2. Sale o B i ain an d F an ce o a ed f o m $825 millio n in 1914 o $3.2 b illio n in 1916. B 1915, P e id en W il o n , h ile p each in g p eace, h ad b eg n o g ea us.histor .wisc.edu/hist102/lectures/lecture15.html p fo a fa e, e p an d in g h e Un i ed S a e 1/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s a a d a . Beca e f i c ea ed Ge a b a i e a ac A id e f h e A ie i 1917, a d a i ed ia e i ed h e b a a ce i a i ice, h ich a g a ed N e b e 11, 1918. Th e effec f h e R ia a d e a a i g , b h h ei ec ie a d i h e fh f he a e a i e ca h ed . A e ica d ie (ca ed " d g h b e e b ed a d ee -f ied b ead f h e a e a e) e ed h e i M a a e d ecad e. e ica h i , A e ica e e ed h e a he h ei fa . I f e ea , Ge a a ed f a a Ge a , F a ce, G ea B i ai , a d a ife. A e ica, h e h e h a d , ca e " b eca e h e a g e b h ei if 1919 ic e - a e a ad e a d h e ie f Of c e, h e e e e b e a e . Th e a i i f a a - i e a eace- i e ec ca ed ec ic d i ca i f i d ia e, f i c e f fa e , a d e e ed aci a d a i i ag ai A f ica A e ica a d f eig i ig a . M a A e ica , h e e , e e ed i h e e c e fc ei . The Politics of Prospe rit I ea ch f i ed e i , A e ica e ec ed h ee Re e he i ic f ei : b ica P e id e d i g h i d ecad e. Each f h e e e Warre n G. Harding (1865- 1923). E ec ed he P e ide c i he 1920 , Ha di g ged a " e a c ." The icie f hi ad i i a i e e ge e a c e a i e, e ecia ega di g a e , a iff , i ig a i e ic i , ab igh , a d b i e eg a i . Ha di g' ad i i a i a a ed b c i a d ca da , a h gh f he ca da did bec e b ic edge i af e he died fa e i ffice i A g 1923. W a en G. Ha ding (1865-1923) C igh 1997 S a e Hi ica S cie f Wi c i Calvin Coolidge (18721933). C idge did i e a Wa e G. Ha di g' ice e ide (1921- 23), b he he a ed he e ide c af e Ha di g' dea h, he ac ed ic e ai he da age f he Ha di g ad i i a i ca da a d ec e he 1924 e ide ia i ai . He a ea i e ec ed e us.histor .wisc.edu/hist102/lectures/lecture15.html 2/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s Cal in Coolidge (1872-1933), fi hing on he B le Ri e in no he n W i c on in C op igh 1997 S a e Hi o ical S ocie of W i con in Democ a John W. Da i and P og e i e Robe M. La Folle e. Nea he end of hi econd e m, Coolidge decided no o n fo p e iden again and e i ed f om poli ic . Man of Coolidge' policie , incl ding fede al a c and high a iff , e e e pop la d ing hi en e a p e iden , b lo fa o d ing he G ea Dep e ion. He be Hoo e (1874- 1964). Ha ing e ed a ec e a of comme ce nde bo h Ha ding and Coolidge, Hoo e a elec ed o he p e idenc in 1928, helped b he p e ailing p o pe i in he co n . Hoo e had been in office j a fe mon h hen he G ea Dep e ion began. In 1932, he lo he p e iden ial elec ion o F anklin D. Roo e el . The B ine Boom of he 1920 On h e h o le, h e Un i ed S a e eco n o m e p e ien ced f eled h i eco n o mic g o h : 1. M ach in e 2. Fac o ie 3. Th e P o ce o f S an d a d i ed M a ead g o h an d e p an io n d in g h e 1920 . Th ee fac o P o d c io n The e fac o c ea ed a elf- pe pe a ing c cle: anda di ed ma p od c ion led o be e machine in fac o ie , hich led o highe p od c ion and highe age , hich led o mo e demand fo con me good hich led back o mo e anda di ed ma p od c ion. Th i p a d p i al co n in ed n il 1929. Th e e e e fi e main o ce o f h e 1920 eco n o mic b o o m: 1. 2. 3. 4. 5. Effec o f W W I o n ech n o lo g . Scien ific man ag emen : " Ta lo i m" Rap id in c ea e in o ke p o d c i i P ch o lo g o f co n mp io n Rela io n b e een h e fed e al g o e n men an d b ig b us.histor .wisc.edu/hist102/lectures/lecture15.html in e 3/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s 1. Effe ct of WWI on Te chnolog . D in g h e a , a ig n ifican lab o h o ag e, co mb in ed i h h e n eed fo in c ea ed p o d c io n , n ece i a ed n e , mo e efficien me h o d o f p o d c io n . Th e W a im la ed a n mb e o f o ld in d ie , ch a p e o le m an d eel, an d h elp ed c ea e a h o o f n e in d ie , ch a p la ic an d a o n p o d c io n . On e mea e o f h e e accele a ed ech n o lo g ical ch an g e i h e mo n e p en o n n e mach in e fo in d . In 1915, h e o al an n al e p en d i e a $600 millio n , h ich g e o $2.5 b illio n b 1918. 2. Scie ntific manage me nt known popularl as "Ta loris m." W e' e al ead d i c ed " Ta lo i m" in Lec e 11, i h i ma h ema ical fo m la fo lab o , eamlin in g o f a k , an d in c ea e in p o d c io n . In h e 1920 , A me ican in d ie imp lemen ed cien ific man ag emen o n a g an d cale, p o in g millio n o f d o lla in o in d ial e ea ch . 3. Rapid incre as e in worke r productivit . A cien ific man ag emen an d n e ech n o lo g in c ea ed o ke p o d c i i , o ke ea n ed h ig h e ag e an d b ecame b e e co n me . A n e in n o a io n ap p ea ed : h e in allmen p lan , h ich en co ag ed A me ican o b ild p d eb in o d e o b co n me g o o d . The gro th of c ons umeris m C op igh 1997 S a e Hi o ical S ocie us.histor .wisc.edu/hist102/lectures/lecture15.html of W i con in 4/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s 4. Ps cholog of cons umption. In a a ie o f a , A me ican an ed o g e ich , an d o d o o i h li le effo . Th o ein Veb len , an eco n o mi , p b li h ed Th e Th eo r o f th e Leisu re Cla ss in 1898. Th e b o o k each ed a id e A me ican a d ien ce d in g h e 1920 b eca e i p o ke d i ec l o h e p ch o lo g o f A me ican co n mp io n . Veb len , in fac , in o d ced h e n o -familia e m " co n p ic o co n mp io n ," h ich eemed o emb o d h e c l al min d e o f p o W o ld W a I A me ica. So me e amp le o f co n p ic o co n mp io n in cl d e: Thors tein Veb len (1857-1929), s oc ial s c ientis t and c ritic C op igh 1997 S a e Hi o ical S ocie of W i con in Radio The fi comme cial adio a ion en on he ai in he 1920 in Pi b gh, hile he fi p blic adio a ion opened on he camp of he Uni e i of Wi con in. B 1922, 3 million Ame ican ho ehold had adio , and p cha e of ecei e had inc ea ed b 2,500%, gi ing he ind ann al ale of $850 million b 1929. Radio b roadc as ting from the Univers it of W is c ons in Fieldhous e during a b as k etb all game C op igh 1997 S a e Hi o ical S ocie of W i con in Motion pictures A fled g lin g in d b efo e W o ld W a I, mo io n p ic e p o d c io n b ecame o n e o f h e en la g e in d ie in h e Un i ed S a e d in g h e 1920 . In 1922, h ea e o ld 40 millio n icke a eek. B 1929, h a n mb e h ad g o n o 100 millio n a eek. On e o f h e cap i ali h o ca h ed in o n Ho ll o o d a Jo ep h P. Ken n ed , p a ia ch o f h e Ken n ed ' , o n e o f h e n a io n ' mo in fl en ial p o li ical familie . D in g eig h mo n h in Ho ll o o d , h e mad e $6 millio n . New electric appliances A flo o d id e o f n e elec ic ap p lian ce lig h en ed h e lo ad o f h e mid d le-cla A me ican h o e ife: ac m clean e , o a e , a h in g mach in e , ef ig e a o . W o men b ecame A me ica' g ea e co n me , p ch a in g ap p lian ce an d o h e i em h a o ld h a e b een co n id e ed a l j a g en e a io n b efo e. Automobile indus tr No he e a he p cholog of us.histor .wisc.edu/hist102/lectures/lecture15.html 5/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s con mp ion mo e e iden han in he a omobile ind . Ann al a omobile p od c ion o e f om 2 million d ing he 1920 o 5.5 million in 1929. B he la e 1920 , he e a one a omobile fo e e fi e Ame ican , allo ing, heo e icall , fo e e pe on in he Uni ed S a e o be on he oad a he ame ime. T o fac o As s emb l line produc tion of Ford c ars at the Ford "Rouge Plant" C op igh 1997 S a e Hi o ical S ocie led o h e i in g p o p la i of W i con in o f ca : 1. Co -- Th e p ice o f a o mo b ile d eclin ed ead il n il h e mid -1920 o h a man ell-p aid o kin g familie co ld n o affo d o p ch a e a ca . Th e M o d el T Fo d , fo e amp le, co j $290 in 1926. 2. C edi -- In 1925, A me ican mad e 75% o f all a o mo b ile p ch a e o n h e in allmen p lan . 1920s Ford Model T C op igh 1997 S a e Hi o ical S ocie us.histor .wisc.edu/hist102/lectures/lecture15.html of W i con in 6/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s H F (1863- 1947) .F , .H 1896. S , A .F : "A F , , , ." ' ' Henr Ford (1863-1947), indus trialis t C P A H ,F 1928, M A S W A A, , , T 1997 S A . , . Economic Effe cts of the Automobile : 1. Promoted g rowth of other indus tries . E , 2. Helped fuel the creation of a national s s tem of hig hwa s . A W W I, 3. Created new s ervice facilities . F , , .M ( ' ' ' ') . , . .A . Social Effe cts of the Automobile : 1. Created a more mobile s ociet . C W A "S .R A . ," , , . 2. Brok e down the s tabilit of famil life. N . 3. Brok e down traditional moralit . C " ." I 1929, M ,I , R 1924 us.histor .wisc.edu/hist102/lectures/lecture15.html H 1925. T L L , Mi d d l e t o n , 7/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s M A .T ' .T .P , , . 5. Re lations be twe e n the fe de ral gove rnme nt and big bus ine s s . A A P .M . T A , S Babbit t (1922). L ' L , , , . Sinc lair Le is (1885-1951), author C O No b o d Kn o ws: A Bio g ra p h o f Jesu s, " R "S .B 1925. B ." B 1997 S H S , W , J , Th e Ma n " " 1920 . C C "C : "W !" : "T , .T , ." "The American Wa " B M : C C .B .T A W ." P N N , A , , "T M ,C H " A H , ." There were fo ur majo r wa s in which the federal go vernment suppo rted big business. 1. Hig h tariff policies . T 2. Andrew Mellon. S us.histor .wisc.edu/hist102/lectures/lecture15.html F -M C A - T (1922) . 1921 1932. I H -S A (1930) ,C 8/9 12/22/11 H102 Lecture 15: The Politics of Prosperit : The 1920s th e exces s p ro fits tax an d red u ced th e rates fo r co rp o rate an d p ers o n al in co me taxes . M ello n p ro v id ed b u s in es s lead ers with a lis t o f tax lo o p h o les wh ich th e IRS h ad d rawn u p at M ello n 's req u es t. 3. Cutback s in the Federal Trade Commis s ion (FTC). Th e fed eral g o v ern men t h ad created th e FTC to reg u late b ig b u s in es s an d to lo o k in to u n fair trad e p ractices , b u t th e co mmis s io n d id les s an d les s o f th is in th e 1920s . 4. Herbert Hoover. A s Secretary o f Co mmerce an d as Pres id en t, Ho o v er en co u rag ed p rice-fixin g an d b eliev ed th at th e g o v ern men t was res p o n s ib le fo r h elp in g b u s in es s es p ro fit. No t ev ery o n e to o k p art in th e material s u cces s es o f th e 1920s . Th is d ecad e als o s aw g ro win g racis m an d n ativ is m, in creas in g fru s tratio n fro m th o s e wh o felt cu t o ff fro m p ro s p erity . Th is s id e o f th e " Ro arin g Twen ties " is a fas cin atin g an d extrao rd in arily imp o rtan t p art o f o u r s to ry . So imp o rtan t, in fact, th at we'll take it u p in Lectu re 16: " Th e Po litics o f Fru s tratio n : Th e 1920s ." Lecture 15 Rela ed Web Link Content Presentation Audience Link High School The Fa bulous Ruins of De troit Gra d "Conspicuous Consum ption," from THE THEORY OF THE LEISURE CLASS, by Thorste in Ve ble n High School The Ja z z Age Pa ge Colle ge A Com pa ra tive Chronology of Mone y, 1920-1938 High School Surfing The Ae the r - Broa dca sting in the 1920's High School The Life of He nry Ford Colle ge Ex ce rpts from The M an Nobod Knows High School Info Ye ste rda y USA: Vinta ge Ra dio Broa dca sts (Re a lAudio) Skip Dire ctly To Le cture : || 01 02 03 04 05 06 07 08 09 10 || || 11 12 13 14 15 16 17 18 19 20 || || 21 22 23 24 25 26 27 28 29 30 || Home Cours e Guide Bios Photos Exams Calendar Comments /S ig n-in 1999 Bo ard o f Reg en ts o f th e Un iv ers ity o f W is co n s in Sy s tem us.histor .wisc.edu/hist102/lectures/lecture15.html 9/9 ...
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This note was uploaded on 12/25/2011 for the course HIST 058 taught by Professor Babice during the Fall '10 term at Everglades.

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