The 1920s and the Great Depression. I. Conservative Supremacy II. Economic Growth and Affluenza III. Stock Market Crash IV. Onset of Depression. I. Conservative Supremacy. Progressives became disaffected after of World War One.
I. Conservative Supremacy
II. Economic Growth and Affluenza
III. Stock Market Crash
IV. Onset of Depression
Organized labor resented the administration's reaction to the strikes in 1919.
- A Progressive Editor in 1920
“It is only once in a generation that a people can be lifted above material things. That is why conservative government is in the saddle two-thirds of the time.”
Chief Justice William Howard Taft, who announced he had been “appointed to reverse a few decisions.”
“The government is just a business and can and should be run on business principles.”
“One of the foundations of our American civilization is equality of opportunity, which presupposes the right of each man to enjoy the fruits of his labor after contributing his fair share to the support of the government which protects him and his property. But that is a very different matter from confiscating part of his wealth, not because the country requires it for the prosecution of a war or some other purpose, but because he seems to have more money than he needs.”
I want “to democratize the automobile. When I'm through everybody will be able to afford one, and about everyone will have one.”
Calvin Coolidge considered the regulation of securities the business of the states, not the federal government.
Hoover and his dog, King Tut
“I have no fears for the future of our country. It is bright with hope.”
The crash started a nationwide run on banks, destabilizing the country’s entire financial and economic system.
- Andrew Mellon
In 1930 Hoover and Congress cut personal and corporate income taxes.
Paris Breadline—in the spring of 1931 financial panic swept Europe, leading to a further sell off in the American stock market