Politics and Economics of the Jazz Age

1. Politics and Economics of the Jazz Age Coach Presnell

2. Admin. Issues • WWI Homework Packet due today or Monday. • 1920s homework packet due next Wednesday. • Quiz returned on Monday

3. Objectives • Understand the political, social and economic dynamics of the 1920s and their effect on US History. • Understand the economy of the 1920s. • Determine the possible factors that led to the economic collapse of 1929.

4. 1920s Government Main Ideas 1920s Consumer Economy Main Ideas Roaring 20s Main Ideas

5. The Jazz AgeChapter 10, Sections 1 and 2

6. The Jazz AgeChapter 10, Sections 1 and 2 The Harding Administration PRESIDENT HARDING STAFFED HIS ADMINISTRATION WITH POLITICAL FRIENDS FROM OHIO; HIS PRESIDENCY WAS MARRED BY MANY SCANDALS. (Page 362)

7. The Jazz AgeChapter 10, Sections 1 and 2 The Harding Administration • Former Senator elected in 1920 during the recovery from WWI, campaigns on “normalcy” 1) A call for a national budget program (which was vetoed by his predecessor).2) National debt reduction3) Tax reduction4) An emergency tariff to protect American industry and farm commodities.5) Farm relief legislation (farm bankruptcies were up 20% from 1914).6) Immigration restrictions to protect American jobs. • Good appointments overshadowed by “The Ohio Gang” • Teapot Dome • $300,000 to Al Hall for lease of oil rich lands • Amidst other scandals in 1923, Harding dies

9. The Jazz AgeChapter 10, Sections 1 and 2 “Silent Cal” Takes Over • Opposite of Harding • Dismisses The Ohio Gang, keeps good Cabinet members • Policies continue prosperity found after WWI • Easily elected to President again in 1924

10. Check on Learning… • What was the Ohio Gang? • What was the Teapot Dome Scandal? • Explain Harding’s plan to “Return to Normalcy” • What kind of President was Calvin Coolidge?

11. The Jazz AgeChapter 10, Sections 1 and 2 Policies of Prosperity DURING THE 1920S, THE GOVERNMENT CUT TAXES AND SPENDING TO ENCOURAGE ECONOMIC GROWTH. (Page 365)

12. The Jazz AgeChapter 10, Sections 1 and 2 Andrew Mellon • Chosen to be Secretary of the Treasury • Three Goals • Balance the budget • Reduce debt • Cut taxes • Supply Side Economics

13. Check on Learning… • What were the three economic goals of the Coolidge Administration? • What is supply side economics?

14. Confused?

15. The Jazz AgeChapter 10, Sections 1 and 2 Trade and Arms Control DURING THE 1920s, THE UNITED STATES TRIED TO PROMOTE PEACE AND STABILITY THROUGH ECONOMIC POLICIES AND ARMS CONTROL AGREEMENTS. (Page 366)

16. The Jazz AgeChapter 10, Sections 1 and 2 Trade and Arms Control • US now the dominant economic world power • The Isolationist view becomes outdated • Dawes Plan brings about European economic recovery • The Washington Conference ensures a period of peace • Kellogg-Briand Pact abolishes war

17. Check On Learning… • What is the Isolationist view and why did it become outdated? • What did the Dawes Plan do?

18. The Jazz AgeChapter 10, Sections 1 and 2 The Rise of New Industries MASS PRODUCTION AND THE ASSEMBLY LINE ALLOWED NEW INDUSTRIES, SUCH AS AUTOMOBILE AND AIRPLANE MANUFACTURING, TO GROW (Page 368)

20. The Jazz AgeChapter 10, Sections 1 and 2 The Rise of New Industries • Ford puts production of his Model T on the assembly line • 1925, Ford Model T made every 10 seconds • Spawns imitators, GM and Chrysler • Rubber, steel, glass industries grow

22. Check On Learning… • Who was Henry Ford? • What is a Model T and why is it important? • Explain how an assembly line works.

23. The Jazz AgeChapter 10, Sections 1 and 2 Workers Take Part in the Wealth • Better pay • Better hours • Paid vacation • Prices of manufactured goods goes down • All due to reduced manufacturing costs

24. The Jazz AgeChapter 10, Sections 1 and 2 Consumer Goods and New Products • More disposable income spurs on many new products • Home cleansers, personal hygiene become big concerns • For the first time, air travel becomes a business • Radio becomes a mainstay in American life, production soars

25. Madame CJ Walker

26. Check On Learning… • How did workers begin to be allowed to participate in wealth? • What is disposable income? • What were some consumer goods and services that come about during the 1920s?

27. The Jazz AgeChapter 10, Sections 1 and 2 The Consumer Society CONSUMER CREDIT AND ADVERTISING HELPED TO CREATE A NATION OF CONSUMERS. (Page 372) America transitions from a nation of thrift and savings to one of consumption.

28. The Jazz AgeChapter 10, Sections 1 and 2 The Consumer Society • New middle class emerges with increased wages and new managerial structures • Mass advertising emerges to attract new middle class consumers • 75% of radios and 60% of cars bought on credit, some become overextended

29. The Jazz AgeChapter 10, Sections 1 and 2 Welfare Capitalism • Profit sharing, stock options, pensions and health care emerge • Reduces the need for unions • Women, minorities don’t get to share in the new wealth • Farmers, meanwhile, stuck in a “Quiet Depression” throughout the 1920s

30. Check on Learning • What is welfare capitalism? • What does it mean that the US became a consumer economy in the 1920s? • Who wasn’t sharing in the wealth?

31. The Jazz AgeChapter 10, Sections 1 and 2 Practical Exercise You have three cartoons from the 1920s. Write a four square organizer on the following prompt: “After viewing this cartoon from the 1920s, how does it exhibit the social dynamics and economic developments of the 1920s?” (Hint, what is in the cartoon, what does it mean and how did it make the people back then feel?)

33. The Jazz AgeChapter 10, Sections 1 and 2

35. Cartoon Two