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Marcus Garvey

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Marcus Garvey. lynching in the American south. Notice that this picture is shaped like a postcard? That is because it was a postcard. lynching in the American south. Lynching in 1930. lynching in the American south. The Lynching of Leo Frank in Georgia in 1915. The NAACP fights lynching.

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lynching in the american south
lynching in the American south

Notice that this picture is shaped like a postcard?

That is because it was a postcard.

lynching in the american south2
lynching in the American south

The Lynching of Leo Frank in Georgia in 1915

the naacp fights lynching
The NAACP fights lynching
  • 1919: NAACP releases 30 Years of Lynching in the South
  • 30 Years concludes that only 20 percent of lynchings involved accusations of impropriety with a white woman
  • And the vast majority of those accusations were false.
  • 1922: Congressman Leonidas C. Dyer proposes a federal anti-lynching bill

The Dyer bill passes the House

. . . but is blocked in the Senate.

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Countee Cullen

Claude McKay

Jean Toomer

Langston Hughes

slide9

Zora Neale Hurston

Walter White

Carl Van Vechten

football transformed
Football transformed

Harold “Red” Grange

1920s technology revolution
1920s technology revolution
  • 750 broadcast radio stations by 1928
  • Vastly more powerful electric power plants
  • Redesigned homes make it easier to accommodate electrical appliances
  • Electric refrigerators, vacuum cleaners, toasters
  • Telephone party lines expand phone use
post world war i assault on labor
Crackdown on labor campaigns

“Open shop” drive

Corporate welfare programs

Company unions

Textile mills move south

Post World War I assault on labor

Federal troops occupy union hall in 1919 steel strike; right: John L. Lewis

election of 1928
Al Smith: 40.8% (wins majorities in 12 large cities)

Herbert Hoover: 58.2%

Election of 1928

"We in America today are nearer to the final triumph over poverty than ever before in the history of this land... We shall soon with the help of God be in sight of the day when poverty will be banished from this land. “ Herbert Hoover, 1928

in ponzi we trust

A confident Charles Ponzi on his way to Federal trial

A less than confident mob surrounding one of Ponzi’s branches as word leaks out that he’s a fraud.

In Ponzi we trust . . .
why the speculation boom of the 1920s
Why the speculation boom of the 1920s?
  • Communication revolution via telephone and wireless telegraph
  • Radio delivered news of stocks quickly
  • Rise of disposable income among upper-middle class
  • Absence of any government regulation of the trading sector
the great crash 1929
the great crash . . . 1929
  • Number of shares traded between 1927 and 1929 doubled . . .
  • . . . to 920 million shares by 1929.
  • But in October 1929, stocks lost 40 percent of their value.
  • 50 billion dollars in speculative investment lost
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France and England insist on collecting from Germany because they owe debts to the United States

Germany owes huge reparations to England and France

The U.S. won’t ease up on France and England’s war debts . . .

. . . but encourages investors to lend money to Germany

the international debt mess of the 1920s (revisited). . . .

What if there was a stock market crash in the United States???

the great crash 1929 1931
the great crash . . . 1929 - 1931
  • 1930: 1,352 banks failed with 850 million in deposits
  • 1931: almost 2,300 banks failed with 1.7 billion in deposits
  • . . . People got ten cents on the dollar of their savings, if they were lucky.

U.S. unemployment rate

why great depression
Why Great Depression?
  • The boom/crash interpretation
    • Stock market had something to do with it
  • The Monetarist camp
    • Failure of Federal Reserve
  • The regulatory interpretation
    • No real government checks on the markets
  • The Keynesian demand-side school
    • Consumer power wimped out
  • The international crisis perspective
    • Treaty of Versailles and its consequences

Milton Friedman; Monetarist

John Kenneth Galbraith; Keynesian

Charles Kindelberger, internationalist

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