chapter 24 ap american history

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Chapter 24 Chapter 24 The New Era: 1920-1929 The New Era: 1920-1929 CJ Cayanan CJ Cayanan

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Page 1: Chapter 24 AP American History

Chapter 24Chapter 24The New Era: 1920-1929The New Era: 1920-1929

CJ CayananCJ Cayanan

Page 2: Chapter 24 AP American History

Charles A. LindberghCharles A. Lindbergh

He was nicknamed “The Lone Eagle.” He was nicknamed “The Lone Eagle.” His 33 hour flight across the Atlantic His 33 hour flight across the Atlantic Ocean began in New York on May Ocean began in New York on May 2020thth and ended in Paris on May 21 and ended in Paris on May 21stst 1927.1927.

He was looked upon as a hero.He was looked upon as a hero.

Page 3: Chapter 24 AP American History

Installment PlanInstallment PlanAs American acquired As American acquired

spending money and leisure spending money and leisure time, service industries time, service industries such as restaurants, beauty such as restaurants, beauty salons, and movie theaters salons, and movie theaters boomed. boomed.

Installment (time-payment) Installment (time-payment) plans drove the new plans drove the new consumerism.consumerism.

““A dollar down and a dollar A dollar down and a dollar forever”forever”

Page 4: Chapter 24 AP American History

OligopoliesOligopoliesOligopoly – The control of Oligopoly – The control of

an entire industry by an entire industry by a few large firms.a few large firms.

By the 1920s oligopolies By the 1920s oligopolies dominated not only dominated not only production but also production but also marketing, marketing, distribution, and distribution, and finance. finance.

In steel production and In steel production and electrical equipment, electrical equipment, U.S. Steel and General U.S. Steel and General Electric prevailed.Electric prevailed.

Page 5: Chapter 24 AP American History

The “new lobbying”The “new lobbying”In a complex society in In a complex society in

which government which government was playing an was playing an increasingly increasingly influential role, influential role, hundreds of hundreds of organizations sought organizations sought to convince federal to convince federal and state legislators and state legislators to support their to support their interests.interests.

Page 6: Chapter 24 AP American History

Coronado Coal Company v. Coronado Coal Company v. United Mine WorkersUnited Mine Workers

1922, Chief Justice 1922, Chief Justice William Howard William Howard Taft, former Taft, former president ruled that president ruled that a striking union, like a striking union, like a trust, could be a trust, could be prosecuted fo illegal prosecuted fo illegal restraint of trade.restraint of trade.

Page 7: Chapter 24 AP American History

Maple Floor Association v. Maple Floor Association v. United StatesUnited States

Court decided in Court decided in 1929, that trade 1929, that trade associations that associations that distributed anti-distributed anti-union information union information were not acting in were not acting in restraint of trade.restraint of trade.

William Howard Taft

Page 8: Chapter 24 AP American History

Bailey v. Drexel Furniture Bailey v. Drexel Furniture CompanyCompany

The Court voided The Court voided restrictions on restrictions on child labor in child labor in 1922.1922.

Page 9: Chapter 24 AP American History

Adkins v. Children’s HospitalAdkins v. Children’s Hospital

The Court The Court overturned a overturned a minimum-wage minimum-wage law affecting law affecting women because women because it infringed on it infringed on liberty of liberty of contract in 1923.contract in 1923.

Page 10: Chapter 24 AP American History

Welfare capitalismWelfare capitalismSome corporations countered the appeal of unions by Some corporations countered the appeal of unions by

offering pensions, profit sharing (which amounted offering pensions, profit sharing (which amounted to withholding wages for later distribution), and to withholding wages for later distribution), and company-sponsored picnics and sporting events – a company-sponsored picnics and sporting events – a policy known as welfare capitalism.policy known as welfare capitalism.

Page 11: Chapter 24 AP American History

Charles Forbes and Harry Charles Forbes and Harry DaughertyDaugherty

Charles Forbes of the Charles Forbes of the Veterans Bureau went Veterans Bureau went to federal prison, to federal prison, convicted of fraud and convicted of fraud and bribery in connection bribery in connection with government with government contracts.contracts.

Attorney General Harry Attorney General Harry Daugherty was Daugherty was implicated in bribery implicated in bribery and other fraudulent and other fraudulent schemes.schemes.

Harry Daugherty and Warren Harding

Page 12: Chapter 24 AP American History

Teapot Dome ScandalTeapot Dome ScandalSecretary of the Interior Secretary of the Interior

Albert Fall had accepted Albert Fall had accepted bribes to lease oil-rich bribes to lease oil-rich government property to government property to private oil companies. private oil companies.

Named after a Wyoming oil Named after a Wyoming oil reserve that he turned reserve that he turned over to the Mammoth Oil over to the Mammoth Oil Company – Fall was fined Company – Fall was fined $100,000 and spent a $100,000 and spent a year in jailyear in jail

Page 13: Chapter 24 AP American History

Calvin CoolidgeCalvin CoolidgeVice President to Harding Vice President to Harding

and became President and became President after himafter him

When he was governor of When he was governor of Massachusetts, he Massachusetts, he attracted attention to attracted attention to himself with this active himself with this active stand against striking stand against striking Boston police men.Boston police men.

He was content to let He was content to let events take their course.events take their course.

Page 14: Chapter 24 AP American History

McNary-Haugen billsMcNary-Haugen bills

Two bills passed in 1927 Two bills passed in 1927 and 1928and 1928

In response to farmer’s In response to farmer’s complaints of falling complaints of falling crop prices, Congress crop prices, Congress passed these bills to passed these bills to establish government-establish government-backed price supports backed price supports for staple crops.for staple crops.

McNary and HaugenMcNary and Haugen

Page 15: Chapter 24 AP American History

The 1924 Presidential The 1924 Presidential ElectionElection

Republicans nominated Republicans nominated Calvin CoolidgeCalvin Coolidge

Democrats finally Democrats finally nominated John W. Davis nominated John W. Davis after debating between after debating between William G. McAdoo and William G. McAdoo and Alfred E. SmithAlfred E. Smith

Progressive Party Progressive Party nominated Robert M. La nominated Robert M. La FolletteFollette

Coolidge wonCoolidge won

Page 16: Chapter 24 AP American History

Indian Rights AssociationIndian Rights Association The Indian Defense Association The Indian Defense Association

The General Federation of Women’s The General Federation of Women’s ClubsClubs

These groups These groups worked to obtain worked to obtain justice and social justice and social services, services, including better including better education and education and return of tribal return of tribal lands.lands.

Page 17: Chapter 24 AP American History

American Indian’s Citizenship American Indian’s Citizenship StatusStatus

The Dawes Act of 1887 The Dawes Act of 1887 gave citizenship to only gave citizenship to only Indians who accepted the Indians who accepted the land but not to the ones land but not to the ones still on reservations.still on reservations.

In 1924, Congress finally In 1924, Congress finally passed a law granting passed a law granting full citizenship to all full citizenship to all Indians who had Indians who had previously not received previously not received it.it.

Page 18: Chapter 24 AP American History

Bureau of Indian AffairsBureau of Indian Affairs

President Herbert Hoover’s President Herbert Hoover’s administration reorganized the administration reorganized the Bureau of Indian Affairs and Bureau of Indian Affairs and increased expenditures for health, increased expenditures for health, education, and welfare.education, and welfare.

Much of the money, however, went to Much of the money, however, went to enlarge the bureaucracy rather than enlarge the bureaucracy rather than into Indian hands.into Indian hands.

Page 19: Chapter 24 AP American History

League of Women VotersLeague of Women Voters

It formed from the National American It formed from the National American Woman Suffrage Association.Woman Suffrage Association.

They encouraged women to run for They encouraged women to run for office.office.

They were more actively as lobbyists They were more actively as lobbyists for laws to improve conditions for for laws to improve conditions for employed women, the mentally ill, employed women, the mentally ill, and the urban poor.and the urban poor.

Page 20: Chapter 24 AP American History

Sheppard-Towner ActSheppard-Towner Act

Action by women’s Action by women’s groups persuaded groups persuaded Congress to pass Congress to pass the Sheppard-the Sheppard-Towner Act in 1921 Towner Act in 1921 which allotted which allotted funds to states to funds to states to create maternity create maternity and pediatric and pediatric clinics.clinics.

Page 21: Chapter 24 AP American History

Cable ActCable Act

The Cable Act of 1922 The Cable Act of 1922 REVERSED the law REVERSED the law under which an under which an American woman who American woman who married a foreigner married a foreigner assumed her assumed her husband’s citizenship, husband’s citizenship, allowing such a woman allowing such a woman to retain U.S. to retain U.S. citizenship.citizenship.

Page 22: Chapter 24 AP American History

National Women PartyNational Women Party

The League of Women Voters and the The League of Women Voters and the National Women’s Party did not help National Women’s Party did not help the women in the National the women in the National Association of Colored Women.Association of Colored Women.

Page 23: Chapter 24 AP American History

The AutomobileThe Automobile

In the 1920s In the 1920s automobile automobile registrations rose registrations rose from 8 million to 23 from 8 million to 23 million and by 1929 million and by 1929 there was one car on there was one car on the roads for every the roads for every five Americans.five Americans.

The automobile was The automobile was the vanguard of all the vanguard of all the era’s material the era’s material wonders.wonders.

Page 24: Chapter 24 AP American History

Federal Highway ActFederal Highway Act

In 1921, Congress In 1921, Congress passed the Federal passed the Federal Highway Act, Highway Act, providing funds for providing funds for state roads.state roads.

In 1923, the Bureau In 1923, the Bureau of Public Roads of Public Roads planned a national planned a national highway system.highway system.

Page 25: Chapter 24 AP American History

The RadioThe RadioRadio became one of the Radio became one of the

era’s most influential era’s most influential advertising and advertising and entertainment media.entertainment media.

By 1929 over 10 million By 1929 over 10 million families owned radios.families owned radios.

In early 1920s, Congress In early 1920s, Congress decided that radio should decided that radio should be a private enterprise be a private enterprise and not a tax-supported and not a tax-supported public service.public service.

Page 26: Chapter 24 AP American History

UrbanizationUrbanizationIn the 1920 federal In the 1920 federal

census revealed that census revealed that for the first time a for the first time a majority of Americans majority of Americans lived in urban areas lived in urban areas (defined as places with (defined as places with 2,500 or more people).2,500 or more people).

Growth in manufacturing Growth in manufacturing and services helped and services helped propel urbanization.propel urbanization.

Page 27: Chapter 24 AP American History

Marcus GarveyMarcus GarveyHe lead the Universal He lead the Universal

Negro Improvement Negro Improvement Association.Association.

He was a Jamaican He was a Jamaican immigrant who believed immigrant who believed blacks should separate blacks should separate from corrupt white from corrupt white society.society.

He promoted black-He promoted black-owned businesses. In owned businesses. In his newspaper, his newspaper, Negro Negro WorldWorld, he refused to , he refused to publish ads for products publish ads for products foreign to black culture.foreign to black culture.

Page 28: Chapter 24 AP American History

Mexican ImmigrantsMexican Immigrants

During the 1910s, Anglo farmers’ associations encouraged Mexican immigration to provide cheap agricultural labor, and by the 1920s Mexican migrants comprised three-fourths of farm labor in the West.

They were treated like slaves; they had low wages and poor healthcare.

Page 29: Chapter 24 AP American History

Puerto Rican ImmigrantsPuerto Rican Immigrants

An influx of Puerto Rican immigrants An influx of Puerto Rican immigrants occurred in the 1920s.occurred in the 1920s.

Most Puerto Rican migrants moved to Most Puerto Rican migrants moved to New York City, where they created New York City, where they created Barrios in Brooklyn and Manhattan Barrios in Brooklyn and Manhattan and found jobs in manufacturing and and found jobs in manufacturing and in hotels, restaurants, and domestic in hotels, restaurants, and domestic service.service.

Page 30: Chapter 24 AP American History

Growth of the SuburbsGrowth of the SuburbsAs urbanization peaked, As urbanization peaked,

suburban growth accelerated. suburban growth accelerated. Prosperity and automobile Prosperity and automobile transportation in the 1920s transportation in the 1920s made suburbs more accessible.made suburbs more accessible.

Suburbanites wanted to Suburbanites wanted to escapeescape big-big-city crime, grime, and city crime, grime, and taxestaxes

Page 31: Chapter 24 AP American History

The American family of the The American family of the 1920’s1920’s

Family size decreased Family size decreased between 1920 and 1930 between 1920 and 1930 as birth control became as birth control became more widely practiced.more widely practiced.

In conjunction with longer In conjunction with longer life expectancy, lower life expectancy, lower birth rates and more birth rates and more divorce meant that divorce meant that adults were devoting a adults were devoting a smaller portion of their smaller portion of their lives to raising children.lives to raising children.

Birth Control Pills

Page 32: Chapter 24 AP American History

Home Appliances and Home Appliances and Household Management in the Household Management in the

1920’s1920’sManaging the home Managing the home

became easier with the became easier with the help of electric irons, help of electric irons, washing machines, gas washing machines, gas and oil powered and oil powered central heating, and central heating, and hot-water heaters.hot-water heaters.

More pressure was put More pressure was put on housewives to keep on housewives to keep things clean.things clean.

Page 33: Chapter 24 AP American History

Isaac Max Rubinow and Isaac Max Rubinow and Abraham EpsteinAbraham Epstein

They led reformers to They led reformers to persuade voluntary persuade voluntary associations, labor associations, labor unions, and legislators to unions, and legislators to endorse old-age endorse old-age assistance through assistance through pensions, insurance, and pensions, insurance, and retirement homes.retirement homes.

By 1933 almost every state By 1933 almost every state provided at least minimal provided at least minimal support to needy elderly support to needy elderly people.people.

Isaac Max Rubinow

Page 34: Chapter 24 AP American History

Peer Group and the Peer Group and the Socialization of ChildrenSocialization of Children

Because of child-labor Because of child-labor laws and compulsory-laws and compulsory-attendance rules, attendance rules, children were in children were in school longer than school longer than ever before, peer ever before, peer groups played a more groups played a more influential role in influential role in socializing socializing youngsters.youngsters.

Page 35: Chapter 24 AP American History

Women in the 1920s Labor Women in the 1920s Labor ForceForce

By 1930, 10.8 million By 1930, 10.8 million women held paying women held paying jobs, an increase of jobs, an increase of 2 million since the 2 million since the end of World War end of World War One.One.

Wherever women Wherever women were employed, were employed, their wages seldom their wages seldom exceeded half of exceeded half of those paid to men.those paid to men.

Page 36: Chapter 24 AP American History

The FlapperThe FlapperIn contrast to heavy, In contrast to heavy,

floor-length dresses floor-length dresses and long hair of and long hair of previous previous generations, the generations, the short skirts and short skirts and bobbed hair of the bobbed hair of the 1920s “flapper” 1920s “flapper” symbolized symbolized independence and independence and sexual freedom.sexual freedom.

Page 37: Chapter 24 AP American History

Homosexual CultureHomosexual CultureThe era’s openness The era’s openness

regarding sexuality regarding sexuality enabled homosexual enabled homosexual culture to surface a culture to surface a little more.little more.

In New York’s Greenwich In New York’s Greenwich Village and Harlem, Village and Harlem, cheap rents and cheap rents and apparent tolerance of apparent tolerance of alternate lifestyles alternate lifestyles attracted gay men and attracted gay men and lesbians.lesbians.

Greenwich Village

Page 38: Chapter 24 AP American History

Ku Klux KlanKu Klux KlanThe new Ku Klux Klan’s The new Ku Klux Klan’s

appeal was based on fear, appeal was based on fear, and it vowed to protect and it vowed to protect female purity as well as female purity as well as racial and ethnic purity.racial and ethnic purity.

Reconstituted in 1915 by Reconstituted in 1915 by William J. Simmons, the William J. Simmons, the Kan was the most sinister Kan was the most sinister reactionary movement of reactionary movement of the 1920s.the 1920s.

““Native, white, Protestant Native, white, Protestant supreamacy.”supreamacy.”

Page 39: Chapter 24 AP American History

Emergency Quota Act of Emergency Quota Act of 19211921

By stipulating that annual By stipulating that annual immigration of a given immigration of a given nationality could not nationality could not exceed 3 percent of the exceed 3 percent of the number of immigrants number of immigrants from that nation residing in from that nation residing in the US in 1910, the the US in 1910, the Emergency Quota Act of Emergency Quota Act of 1921 discriminated against 1921 discriminated against immigrants from southern immigrants from southern and eastern Europe, who’s and eastern Europe, who’s numbers were small in numbers were small in 1910 relative to those from 1910 relative to those from northern Europe.northern Europe.

Page 40: Chapter 24 AP American History

National Origins Act of 1924National Origins Act of 1924National Origins Act of 1927National Origins Act of 1927

National Origins Act of 1924 replaced the National Origins Act of 1924 replaced the Quota Act.Quota Act.

This law restricted the influx to 150,000 This law restricted the influx to 150,000 people by setting quotas at 2 percent of people by setting quotas at 2 percent of each nationality residing in the US in 1890, each nationality residing in the US in 1890, except Asians who were banned except Asians who were banned completely.completely.

The National Origins Act of 1927 retained the The National Origins Act of 1927 retained the limit of 150,000 immigrants but redefined limit of 150,000 immigrants but redefined quotas to be distributed among European quotas to be distributed among European countries in proportion to the “national-countries in proportion to the “national-origins” of American inhabitants in 1920.origins” of American inhabitants in 1920.

Page 41: Chapter 24 AP American History

Nicole Sacco and Bartolomeo Nicole Sacco and Bartolomeo VanzettiVanzetti

Controversy arose when Controversy arose when these two immigrant these two immigrant anarchists, were convicted anarchists, were convicted of murdering a guard and of murdering a guard and paymaster during a paymaster during a robbery in South Braintree, robbery in South Braintree, MA.MA.

They were executed in 1927 They were executed in 1927 which sparked rallies and which sparked rallies and riots in Europe, Asia and riots in Europe, Asia and South America, leaving South America, leaving doubts about the US as doubts about the US as the land that nurtured the land that nurtured freedom of belieffreedom of belief

Page 42: Chapter 24 AP American History

The Scopes TrialThe Scopes TrialIn 1925 in Tennessee, a In 1925 in Tennessee, a

law was passed law was passed forbidding the teaching forbidding the teaching of Darwinism.of Darwinism.

John Thomas Scopes John Thomas Scopes volunteered to serve in a volunteered to serve in a test case and was test case and was arrested for violating the arrested for violating the law.law.

He was convicted but He was convicted but modernist saw it as a winmodernist saw it as a win

Page 43: Chapter 24 AP American History

Pentecostal ReligionPentecostal Religion

Cities also housed hundreds of Cities also housed hundreds of Pentecostal churches, which Pentecostal churches, which attracted both blacks and whites attracted both blacks and whites struggling with economic insecurity, struggling with economic insecurity, nervous about modernism’s attack nervous about modernism’s attack on old-time religion, swayed by the on old-time religion, swayed by the pageantry and personal God such pageantry and personal God such churches depicted.churches depicted.

Page 44: Chapter 24 AP American History

Mahjong, Crossword Puzzle, Mahjong, Crossword Puzzle, Miniature Golf, and the Miniature Golf, and the

CharlestonCharlestonEarly in the 1920’s, Early in the 1920’s,

mahjong, a Chinese tile mahjong, a Chinese tile game, was the craze. game, was the craze. In the mid-1920s In the mid-1920s devotees popularized devotees popularized crosswords puzzles, crosswords puzzles, printed in mass-printed in mass-circulation newspapers circulation newspapers and magazines. Then and magazines. Then miniature golf was the miniature golf was the new fad. Dance crazes new fad. Dance crazes like the Charleston like the Charleston were practice were practice throughout the country.throughout the country.

Page 45: Chapter 24 AP American History

Motion PicturesMotion Pictures

Motion pictures became Motion pictures became one of the nation’s one of the nation’s leading industries. leading industries. Between 1922 and Between 1922 and 1927, the Technicolor 1927, the Technicolor Corporation Corporation developed a means to developed a means to produce movies in produce movies in color. This process, color. This process, along with the along with the introduction of sound introduction of sound in in The Jazz SingerThe Jazz Singer, in , in 1927, made movies 1927, made movies even more exciting even more exciting and realistic.and realistic.

Page 46: Chapter 24 AP American History

BaseballBaseballBaseball’s drawn-out Baseball’s drawn-out

suspense, variety of suspense, variety of plays, and potential plays, and potential for keeping for keeping statistics attracted a statistics attracted a huge following.huge following.

Millions gathered Millions gathered regularly to watch regularly to watch local teams, and local teams, and even more listened even more listened to professional to professional games on the radio.games on the radio.

Page 47: Chapter 24 AP American History

Jack Dempsey, Harold “Red” Jack Dempsey, Harold “Red” Grange, and George Herman Grange, and George Herman

“Babe” Ruth“Babe” RuthJack Dempsey was a Jack Dempsey was a

heavyweight boxing heavyweight boxing champion.champion.

Harold “Red” Grange Harold “Red” Grange was running back for was running back for the University of the University of Illinois football team.Illinois football team.

““Babe” Ruth set home Babe” Ruth set home run records in 1919, run records in 1919, 1920, 1921, and 1920, 1921, and 1927.1927.

Page 48: Chapter 24 AP American History

Rudolph ValentinoRudolph Valentino

He was one of the He was one of the decade’s most decade’s most popular movie stars. popular movie stars. His suave manner His suave manner made women swoon made women swoon and men imitate his and men imitate his pomaded hairdo and pomaded hairdo and slick sideburns.slick sideburns.

His image exploited His image exploited the era’s sexual the era’s sexual liberalism and liberalism and flirtation with flirtation with wickedness.wickedness.

Page 49: Chapter 24 AP American History

ProhibitionProhibitionThe Eighteenth The Eighteenth

Amendment (1919) Amendment (1919) and federal law and federal law (1920) that (1920) that prohibited the prohibited the manufacture, sale, manufacture, sale, and transportation and transportation of alcoholic of alcoholic beverages.beverages.

After 1925 the After 1925 the experiment of experiment of prohibition broke prohibition broke down as thousands down as thousands of people made of people made their own alcohol.their own alcohol.

Page 50: Chapter 24 AP American History

Al CaponeAl Capone

Al Capone was a burly Al Capone was a burly tough “mob boss” who tough “mob boss” who seized control of illegal seized control of illegal liquor and vice in liquor and vice in Chicago, maintaining his Chicago, maintaining his grip on both politicians grip on both politicians and the vice business and the vice business through intimidation, through intimidation, bribery, and violence.bribery, and violence.

He was arrested for He was arrested for income-tax evasion, the income-tax evasion, the only thing they could only thing they could find hard evidence on.find hard evidence on.

Page 51: Chapter 24 AP American History

Lost GenerationLost GenerationA group of novelists and A group of novelists and

poets including Ernest poets including Ernest Hemingway and poets Hemingway and poets Ezra Pound and T.S. Ezra Pound and T.S. Eliot, abandoned the US Eliot, abandoned the US for Europe.for Europe.

Many of writers expressed Many of writers expressed disillusionment with the disillusionment with the materialism that they materialism that they witnessed.witnessed.

Page 52: Chapter 24 AP American History

Harlem RenaissanceHarlem Renaissance

Middle-class, educated, Middle-class, educated, and proud of ther and proud of ther African heritage, black African heritage, black writers rejected white writers rejected white culture and exalted the culture and exalted the militantly assertive militantly assertive “New Negro”“New Negro”

Most lived in New York’s Most lived in New York’s Harlem bringing about Harlem bringing about the Harlem the Harlem RenaissanceRenaissance

Page 53: Chapter 24 AP American History

Jazz AgeJazz AgeThe 1920s was called The 1920s was called

the Jazz Age, owes its the Jazz Age, owes its name to the music of name to the music of black culture.black culture.

Evolving from African Evolving from African and black American and black American folk music, early jazz folk music, early jazz communicated communicated exuberance, humor, exuberance, humor, and authority that and authority that African Americans African Americans seldom experienced seldom experienced in their public and in their public and political lives.political lives.

Page 54: Chapter 24 AP American History

1928 Presidential Election1928 Presidential Election

Republican nominee was Herbert Republican nominee was Herbert HooverHoover

Democrats nominee was Alfred E. Democrats nominee was Alfred E. SmithSmith

Hoover won the popular vote by 21 Hoover won the popular vote by 21 million to 15 million and the electoral million to 15 million and the electoral vote by 444 to 87.vote by 444 to 87.Hoover

Smith

Page 55: Chapter 24 AP American History

Herbert HooverHerbert HooverHe was an apt He was an apt

Republican candidate Republican candidate in 1928 because he in 1928 because he fused the traditional fused the traditional value of individual value of individual hard work with hard work with modern emphasis on modern emphasis on collective action.collective action.

He served as secretary He served as secretary of commerce under of commerce under Harding and Coolidge.Harding and Coolidge.

Page 56: Chapter 24 AP American History

Al SmithAl Smith

His career was His career was embedded in New embedded in New York City’s York City’s Tammany Hall Tammany Hall political machine.political machine.

He was the first He was the first Roman Catholic to Roman Catholic to run fro president.run fro president.

Page 57: Chapter 24 AP American History

Black TuesdayBlack TuesdayOn October 24On October 24th th

(“Black Thursday”) (“Black Thursday”) 1929 the stock 1929 the stock market prices market prices suddenly plunged suddenly plunged after soaring in 1928.after soaring in 1928.

Analysts said the drop Analysts said the drop was temporary. But was temporary. But on “Black Tuesday” on “Black Tuesday” October 29October 29thth, prices , prices plummeted again.plummeted again.

Page 58: Chapter 24 AP American History

Stock Market CrashStock Market CrashWhen Black Thursday occurred people were When Black Thursday occurred people were

stunned and frantic.stunned and frantic.

Prices of many stocks hit record lows; some Prices of many stocks hit record lows; some sellers could find no buyers.sellers could find no buyers.

Bankers put up $20 million and began Bankers put up $20 million and began buying stocks again. The mood buying stocks again. The mood brightened and some stocks rallied but brightened and some stocks rallied but “Black Tuesday” occurred and the stock “Black Tuesday” occurred and the stock market crashed.market crashed.