S eliot left the us for europe rejection of

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poets Ezra Pound and T.S. Eliot; left the U.S. for Europe Rejection of materialism and conformity was biting and bitter; felt at odds w/ society Black writers rejected white culture and exalted the militantly assertive “New Negro”, The Harlem Renaissance! Celebrated black culture Langston Hughes, Zora Neale Hurston The Jazz Age; blurred distinction btwn composer and performer; Trumpeter Louis Armstrong and blues singer Bessie Smith; gave african-americans a place in commercial culture THE ELECTION OF 1928 AND END OF THE NEW ERA Rep. Herbert Hoover won 1928 pres. Election over Demo. Alfred Smith October 24th, 1929 (Black Thursday) stock market crashed, wiping out $10 billion in value Frightened investors sold stocks to avoid further losses, so on Black Tuesday, October 29th, 1929 prices plummeted again… led nation and world into The Great Depression Rich grew richer while middle-and lower-income Americans barely made modest gains Many Businesses overloaded themselves with debt; to obtain loans misrepresented their assets to hide inability to repay… also risky stock market speculations Europeans unable to borrow more or sell goods in American market bc tariffs too high, bought less from the U.S.; Allied nations depended on German war reparations to pay their debts Yet Germany depended on American bank loans to pay reparations… American-crafted 1925 Dawes Plan reduced Germany’s annual payments, extended the repayment period, and provided more loans 1934, passed the Johnson Act, which forbade the U.S. government loans to foreign govs in default to the United States
History 17 A People and A Nation Pages 632-664 THE GREAT DEPRESSION AND THE NEW DEAL “Hoovervilles” president Herbert Hoover at time of the great depression, towns of homeless ppl “Associationism” in which the federal government coordinated efforts of business and professional organizations to solve the nation’s economic problems by crafting programs that state and local governments, along with private industry, could voluntarily implement Hoover feared that gov’t relief would destroy the spirit of self-reliance among the poor Reconstruction Finance Corporation (RFC): Agency set up under the Hoover administration during the Great Depression to make loans to shore up banks and other industries Franklin D. Roosevelt: 32nd president of U.S. 1933-1945 In february of 1933, U.S. senate passed a resolution calling for FDR to assume “unlimited power” bc of Depression and Hitler’s rise to power Eleanor Roosevelt: widely popular and influential First Lady of the U.S. 1933-1945 The origins of the banking crisis lay in the flush years of WWI and the 1920s when American banks made risky loans National Industrial Recovery Act (NIRA): Agency that brought together business leaders to draft codes of “fair competition” for their industries. These codes reorganized workers’ rights to establish unions, set production limits, prescribed wages and working

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