THE EMERGING ROLE OF THE UNITED STATES IN WORLD AFFAIRS:: THE CHANGING POLICIES OF THE UNITED STATES TOWARD LATIN AMERICA AND ASIA AND THE GROWING INFLUENCE OF THE UNITED STATES IN FOREIGN MARKETS
– Puerto Rico was annexed by the United States.
– The United States asserted her right to intervene in Cuban affairs.
– The United States encouraged Panama’s independence from Colombia.
– The parties negotiated a treaty to build the canal.
Asia and the Pacific
Treaty of Versailles
• The French and English insisted on punishment of Germany.
• A League of Nations was created.
• National boundaries were redrawn, creating many new nations.
League of Nations debate in United States
• Objections to United States foreign policy decisions being made by an international organization, not by U.S. leaders
• The Senate’s failure to approve the Treaty of Versailles
DOMESTIC EVENTS OF THE 1920S AND 1930S: RADIO, MOVIES, NEWSPAPERS, AND MAGAZINES CREATED POPULAR CULTURE AND CHALLENGED TRADITIONAL VALUES
Popular culture reflected the prosperity of the era.
How did radio, movies, newspapers, and magazines promote challenges to traditional values?
Mass media and communications
• Radio: Broadcast jazz and Fireside Chats
• Movies: Provided escape from Depression-era realities
• Newspapers and magazines: Shaped cultural norms and sparked fads
Challenges to traditional values
• Traditional religion: Darwin’s Theory, the Scopes Trial
• Traditional role of women: Flappers, 19th Amendment
• Open immigration: Rise of new Ku Klux Klan (KKK)
• Prohibition: Smuggling alcohol and speakeasies
THE CAUSES AND CONSEQUENCES OF THE STOCK MARKET CRASH OF 1929
The United States emerged from World War I as a global power. The stock market boom and optimism of the 1920s were generated by investments made with borrowed money.
When businesses failed, the stocks lost their value
, prices fell, production slowed, banks collapsed, and unemployment became widespread.
What caused the stock market crash of 1929?
Causes of the stock market crash of 1929
• Business was booming, but investments were made with borrowed money (over-speculation).
• There was excessive expansion of credit.
• Business failures led to bankruptcies.
• Bank deposits were invested in the market.
• When the market collapsed, the banks ran out of money.
What were consequences of the stock market crash of 1929?
Consequences of the stock market crash of 1929
• Clients panicked, attempting to withdraw their money from the banks, but there was nothing to give them.
• There were no new investments.
THE CAUSES OF THE GREAT DEPRESSION AND ITS IMPACT ON THE AMERICAN PEOPLE.
The Great Depression caused widespread hardship.
What were the causes of the Great Depression?
Causes of the Great Depression
• The stock market crash of 1929 and collapse of stock prices
• Federal Reserve’s failure to prevent widespread collapse of the nation’s banking system in the late 1920s and early 1930s, leading to severe contraction in the nation’s supply of money in circulation
• High protective tariffs that produced retaliatory tariffs in other countries, strangling world trade (Tariff Act of 1930, popularly called the Hawley-Smoot Act)
How did the depression affect the lives of Americans?
Impact of the Great Depression
• Unemployment and homelessness
• Collapse of the financial system (bank closings)
• Decline in demand for goods
• Political unrest (growing militancy of labor unions)
• Farm foreclosures and migration
FRANKLIN D. ROOSEVELT’S NEW DEAL
RELIEF, RECOVERY, AND REFORM MEASURES ADDRESSED THE GREAT DEPRESSION AND EXPANDED THE GOVERNMENT’S ROLE
IN THE ECONOMY.
The New Deal
permanently altered the role of American government in the economy.
It also fostered changes in people’s attitudes toward government’s responsibilities. Organized labor
acquired new rights, as the New Deal set in place legislation that reshaped modern American capitalism.
How did the New Deal attempt to address the causes and effects of the Great Depression?
What impact did the New Deal have on the role of the federal government?
New Deal (Franklin Roosevelt)
• This program changed the role of the government to a more active participant in solving problems.
• Roosevelt rallied a frightened nation in which one in four workers was unemployed. (“We have nothing to fear, but fear itself.”)
• Relief measures provided direct payment to people for immediate help (Works Progress Administration—WPA).
• Recovery programs were designed to bring the nation out of the depression over time (Agricultural Adjustment Administration—AAA).
• Reform measures corrected unsound banking and investment practices (Federal Deposit Insurance Corporation—FDIC).
• Social Security Act
offered safeguards for workers.
The legacy of the New Deal influenced the public’s belief in the responsibility of government
to deliver public services, to intervene in the economy, and to act in ways that promote the general welfare.