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Existing In: -LF Capital -Protestant faith -Social Classes -Gender Roles Threats: -Socialism, Anarchists -Communism -New American "Woman" -Darwinism Acts, etc. Support: -A. Mitchell Palmer -Calvin Coolidge -Steel Corporations -Warren G Harding -Hoover -Red Scare -Palmer Raids -18th Ammend Acts, etc. Oppose: -IWW -19th Ammend -Scopes -Boston Police Strike -Steel Mill Strikers -John L. Lewis- Coal Strike -technological advances -Lenin -ACLU (American Civil Liberties Union) -Flappers -Harlem Renaissance -A Phillip Randolph |
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Existing In: WASP America Threats: -Immigration -"New Negro" Acts, etc. support: -Madison Grant -KKK- hated non-WASP -The Emergency Quota Act of 1921 -Hoover Acts, etc oppose: -Succo & Vanzetti -Ford Factories (?) |
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Existing In: Keep us out of European affairs Threats:Anything that might involve US in war loaning $ outside US Acts, etc. support: -Charles Evans Hughes -Kellog-Briand Pact -Dawes Plan -Fordney-McCumber Tariff Acts, etc oppose: -Same as above (can go either way) |
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-automobiles -paved roads -radio -movies Traditional vs New |
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1917 -revolutionaries in Russia overthrew the czarist regime -Vladimir I Lenin and his followers or Bolsheviks established a new Communist State |
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-overwhelming fear of communism- --strikes 1919- 3000 --bombing --Third Communist International- 1919 Problems? -violated civil rights -detained w/out charge -search w/out warrant -deported w/o lawyers/trials Targeted? -unions/leaders -immigrants (from E European) |
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Taught evolution in Tennessee Fined $100 but was later dropped due to a technicality |
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American Civil Liberties Union |
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Nativist -Wrote harsh racial prejudice |
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-KKK-hated any non-WASP -Laws: --Emergency Quota Acts 1921, 1924- 150,000 imm/year, 2% quota to stop S&E Europeans, 2% of pop in US by 1890 ---800,000 imm to 150,000 |
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60%, highest tariff @time -Britain & France can't repay us-Dawes Plan |
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US loans Germany $ who pays to Britain and France who pays to US |
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-Frank B. Kellog- no war as national policy |
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Washington Naval Conference- reduced warships |
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Data that seemed to indicate prosperity (superficial prosperity in 1920's) |
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-Average income up 35% -America owned 40% of world's wealth -80% of world's cars were in US (1 in 5) -Factory production up 50% -64 bil to 87 bil= national income 75% of this wealth went to top 1%, 9% to bottom |
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Event/Cause: Farms Gov "Contribution: -increase productivity- mechanization/more land -encouraged by gov for WWI/surplus post-war --during war- corn $1.50 bushel-$.52 bushel -McNary Haugen Bill- sell crops on World Market- vetoed by Coolidge- not LF capital
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Gov Contribution: -farm foreclosures (McN-H Veto) --Banks fail -Conservative "L-F" values (pro-business) -farms/monetary policy- banks unregulated --allowed to invest in stock market Econ Result: -1/4 nations banks failed Econ Results: |
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Uneven Distribution of income |
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-75% of 20's of growth to top 1% -70% of Americans lived below poverty -80% had no savings Gov Contributions: -Under "L-F" --no social security, no unemployment benefits, no sick days, no vacation days, no pensions, no minimum wage -Gov crushes unions that attempted to gain higher wages/benefits --Boston Police Steel Strike, etc. -Conservative fear of Communism -Fordney-McCumber tariff- dropped World trade 40% in world tariff "war" Econ Result -No Demand --surplus goods-drop prices-fire workers- 25% unemployment 1932 |
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*70% of household goods bought on credit -Federal Reserves-sets interest rates --dropped rates in 20's, raised rates in 30's (Gold Standard issues?) Econ Result -Sustained artificial demand 1920's ends by 1930's |
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(not primary cause) Stock- 1. Assets/earnings (actual value) 2. Demand (perceived value) *gap too high, overvalued *3% Americans owned stock Gov Contribution: -Fed rates: --wealthy borrowed to invest in stocks --Banks unregulated (investing $) --Gov cut taxes wealthy-invested --Gov L-F- no regulators Econ Result: Stocks overvalued |
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Causes of the Great Depression (5) |
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1. Farms 2. Bank Crisis 3. Uneven Distributions of Income 4. Credit 5. Stock Market |
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