HIST 106 1st Edition Lecture 13 Outline of Last Lecture I US after WWI II Europe after WWI III Nazi s and Hitler Outline of Current Lecture I II III Life during the 1920 s Stock Market Crash The Great Depression Current Lecture 1920 s 3 Republican Presidents in a row o Warren G Harding Dies before his term is finished Wife takes over o Calvin Coolidge 1924 1928 o Herbert Hoover 1928 1932 Return to big business o Point of change is the Automobile Changes the pattern of city life People can move out moving to the suburbs Rise of suburbs malls and so on o Electricity is becoming more common 2 3 of public has electricity People can listen to radio now o Rise of advertising o Rise of buying things on credit stock and bonds Buying on margin rent the stock for 10 o Rise of chain stores These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Rexall Walgreens o NY grows by 25 o Detroit doubles o As cities get larger everything gets higher Building skyscrapers Problems o Railroads are starting to decline because people are using trucks o Coal industry declines o Cotton industry declines as people turn to synthetics o Farms are buying out all small farms o Bottom of the system is not doing well Blacks poor ect o Engineers bankers business executions are doing well o Public is looking for something to do o Public looking for hero s o New word adolescence o New movies stars o Literature is well represented Great American classics are created during this time o Arrest Execution of Sacco and Vanzetti o Prohibition is going on Rise of crooks o US is suspicious of immigrants and turn against them Immigrant shot Pres Kennedy Pass immigrant law 1924 prevent immigrants from coming in o Rise of fundamentalism Scopes Trial Monkey Trial 1921 Thomas Scopes teacher encouraged his class to believe evolution and was arrested and put on Trial Big trial was put on radio He was found guilty of violating Tennessee Laws Was only fined 1 o US economy is starting to overheat Dawes Act issues new money and helps out German Economy o Start of the Nazi s 1923 They believe they are strong enough to take out the Government of Munich of the South Nov 10th and 11th Hitler marches on City hall in Munich he announces he is going to take over Government of Munich threatens to kill himself is arrested taken to court was only sentences a year and 1 month Everything is moving to the right In jail Hitler writes Mein Vamp means my struggle He get out in 1925 and by this time Gov is back on its feet Nazi s would have died away if it hadn t of been for The Stock Market Crash o Stock Market Crash 1929 1929 stock market drops and does not come back up People are selling their stocks causes stock market to drop faster Drops almost to 0 Banks are calling in their loans stock exchange calling in their other 90 Nobody knows what caused the Great Depression o Great Depression Causes Hoover says it s the Europeans fault Paul Samuel says it was a series of accidence Joseph Schumpeter says all the cycles hit bottom of the same moment John Kings said it was the public s fought because they didn t buy enough o Great Depression 1929 1939 Banks are failing 1 out of every 4 were unemployed Herbert Hoover doesn t know what to do 1 decides to put the issue in the hands of charities 2 says everybody needs to be happy 3 He created the Reconstruction Finance Corporation RFC WWII saves the depression Start manufacturing more for army o RFC Give money to the rich and it will eventually trickle down to the poor Didn t work Started putting money in the middle not really working either Give money to the poor who will spend the money quickly Poor people use money right away Franklin D Roosevelt was elected 1932 o Came from one of the wealthiest families in American o Was crippled o Re elected in 1936 1940 and 1944 and died in 1945 o He immediately starts redesigning the US 1 closes all the banks 2 stop all flow of money to Europe 3 Seizes the Prohibition Act 4 Put together The New Deal The New Deal o WPA Works Progress Administration Puts poor and unemployed people to work on schools roads ect instead of just paying them for being poor o PWA Huge projects o CCC Helping farmers by paying them for NOT growing crops CCC camps built for unemployed young men WWI veterans o REA Rural Electrification Act TVA sends electricity to people in Rural areas Recovery o AAA Give money to farmers Reform o FDIC Federal Deposit Insurance Corporation Made people feel safe when putting money in banks o SEC Security Exchange Commission Made people feel safe when buying stocks o SSC Social Security System America had choices besides Franklin Roosevelt o Father Co Blames the Jews Catholic Priest o Townsend Everybody over 60 will get 200 a month o Hughie Long Wanted to re divide money in America o Communist Party o Nazi Party in US Led by Blund Camps for young kids