Roaring 20s, Stock Market Crash and Response

Harding

1921-1923

Coolidge

1923-1929

Hoover

1929-1933

Black Tuesday

October 29, 1929; the day the stock market crashed. Lead to the Panic of 1929 ---> Great Depression

Bull Market

A period of increased stock trading and rising stock prices

Bear Market

a market in which prices are falling, encouraging selling.

buying on margin

borrowing money in order to buy stocks, invest in stock market

Bank runs

People were running to banks to take their money out before the bank collapsed

discount rate

the minimum interest rate set by the Federal Reserve for lending to other banks.

Hawley-Smoot Tariff Act

Law that raised taxes on imports to help the economy, failed and worsened the Depression

Walter Waters

Led the Bonus Army in the march on Washington

Bonus Army

Group of WWI vets. that marched to D.C. in 1932 to demand the their bonus early

Sacco and Vanzetti

Two Italian immigrants that were arrested and put to death for murders that it wasn't clearly proven they committed

S + V trial response

Raise questions about the founding ideals of equality & rights under the law

Wall Street Bombing

Bombing that killed 30 people immediately in NYC at the headquarters of JP Morgan's bank - In protest of Sacco and Vanzetti

Demobilization

- Changing from war basis to peace basis
- Bring home troops from war

Demobilization caused

Massive unemployment

Emma Goldman

An outspoken radical, angry with the government, who was deported after being arrested.

Government role during WWI

Get along, cooperate

Government role after WWI

Gov stepped aside, ongoing struggle over business, labor, work conditions, ect

Immigration Acts

Set of laws starting in 1921 that set quotas for the number of immigrants let in.

Immigration Act of 1921

375k

Immigration Act of 1924

164k

Immigration Act of 1929

150k

KKK

Ku Klux Klan--Against Blacks, Jews, Catholics. Used terror to control them.

Leo Frank Case

Jewish man who was convicted for the murder of Mary Phagan with very little evidence against him; he was taken from the prison and killed by Knights of Mary Phagan.

REVIVED KKK

Red Scare

Us feared the Communist party was entering the US --> would cause labor strikes

ACLU

American Civil Liberties Union. Fought to protect unpopular groups

Anti-Defamation League

organization formed in 1913 to defend Jews against physical and verbal attacks and false statements (accusations)

Republican Era

The 1920's had three republican presidents and it is often referred to as a Republican Party Era.

"Back To Normalcy" (1920)

Us back to how it was before war. Hardings policy

Harding's fiscal polices

Cut taxes, pay down national debt

Teapot Dome Scandal

Scandal during the Harding administration involving the granting of oil-drilling rights on government land in return for money

Coolidge Presidency

Part of Harding's term (he died), plus 4 years. 6½, 7 years.

Associationalism

Hoover's approach. Bringing industry leaders together to improve efficiency

Washington Naval Conference

1921--Britain, France, Italy, Japan & US agree to limit size of navy/construction of large warships.

Washington Naval conference results

More submarines, little boats, ect

Kellogg-Briand Pact

Agreement signed in 1928 in which nations (France and US) agreed not to pose the threat of war against one another

Prohibition

A law forbidding the sale of alcoholic beverages

RFC

Passed in January 1932, this measure loaned money to businesses and provided funds for state and local programs providing relief. Hoover - Failed.

trickle down theory

Businesses didn't use money properly to give to needy, result of RFC