HIST 106 1st Edition Lecture 13Outline of Last LectureI. US after WWIII. Europe after WWIIII. Nazi’s and HitlerOutline of Current Lecture I. Life during the 1920’sII. Stock Market CrashIII. The Great DepressionCurrent Lecture1920’s- #3 Republican Presidents in a rowo Warren G. Harding Dies before his term is finished Wife takes overo Calvin Coolidge 1924-1928o Herbert Hoover 1928-1932- Return to big businesso 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 ono Electricity is becoming more common 2/3 of public has electricity People can listen to radio nowo Rise of advertisingo Rise of buying things on credit (stock and bonds) “Buying on margin” (rent the stock for 10%)o Rise of chain storesThese 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, Walgreenso NY grows by 25%o Detroit doubleso As cities get larger, everything gets “higher” Building skyscrapers- Problems:o Railroads are starting to decline because people are using truckso Coal industry declineso Cotton industry declines as people turn to syntheticso Farms are buying out all small farmso Bottom of the system is not doing well Blacks, poor, ect.o Engineers, bankers, business executions are doing wello Public is looking for something to doo Public looking for hero’s o New word: “adolescence” o New movies starso Literature is well represented  Great American classics are created during this timeo Arrest/Execution of Sacco and Vanzetti o Prohibition is going on Rise of crookso US is suspicious of immigrants and turn against them Immigrant shot Pres. Kennedy  Pass immigrant law 1924 prevent immigrants from coming ino Rise of fundamentalism “Scopes Trial” (“Monkey Trial”) 1921- Thomas Scopes (teacher) encouraged his class to believe evolutionand was arrested and put on Trial- Big trial was put on radio- He was found guilty of violating Tennessee Laws- Was only fined $1o US economy is starting to overheat Dawes Act issues new money and helps out German Economyo 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, isarrested, 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 Depressiono 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 enougho 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 armyo 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 1932o Came from one of the wealthiest families in Americano Was crippledo Re-elected in 1936, 1940, and 1944, and died in 1945o 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 Dealo WPA (Works Progress Administration) Puts poor and unemployed people to work on schools, roads, ect. insteadof just “paying them for being poor”o PWA  Huge projectso 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- Recoveryo AAA Give money to farmers- Reformo FDIC (Federal Deposit Insurance Corporation) Made people feel safe when putting money in bankso SEC (Security Exchange Commission) Made people feel safe when buying stockso SSC (Social Security System)- America had choices besides Franklin Roosevelt o Father Co Blames the Jews Catholic Priesto Townsend Everybody over 60 will get $200 a montho Hughie Long Wanted to re divide money in Americao Communist Partyo Nazi Party in US Led by Blund  Camps for young