The Roaring Twenties

During the 1920s, the United States was in a time of prosperity. In this time period, much growth and modernization occurred. Although it was directly following World War I, it did little to hinder the prosperity. While the war resulted in devastating numbers of casualties and destruction for Europe, America resurfaced as a world leader and power. Because the war had been fought in Europe, the U.S. had not been impacted severely. Instead, America became prosperous, and experienced many changes in the economy.
This time period, also called “The Roaring Twenties,” held drastic changes in America’s economy that was also influenced by the government. Business and construction was in full play. Income rates rose and as a result, more products …show more content…
During this era, the stock markets rose to a new level of prosperity. Businesses were benefiting off of this, and stock trading was bigger than ever. People could made profit either by holding on to the stock and gaining money off of dividends, or by selling it at a higher price. Stock prices rose, and businesses grew with it. These factors were all influenced by the government. After President Calvin Coolidge rose to his position, he worked for tax cuts and supported tariffs. Although he raised tariffs to push Americans to buy American products, trade increased between foreign nations. After World War I, European countries relied on trade with America to rebuild and stabilize their economy. In his speech, he declared that he “ want the people of America to be able to work less for the government -- and more for themselves.” Following President Coolidge was President Hoover. He raised support for himself by saying that America was close to their “final triumph over poverty.” Over his presidency, support for prohibition started in rural areas, but ignored in cities. Due to this, Congress passed the Volstead Act, which set fines for illegally buying or drinking alcohol. However, even the President had the White House stocked with alcohol, just as many citizens still ignored it. Finally, the Twenty First Amendment ended …show more content…
President Coolidge vetoed a bill that would aid the dwindling farm prices by allowing the government to purchase surplus crops and sell them abroad. He did not want overproduction and raised prices that would drive off this time of prosperity. Since farms did not hold a share to this prosperity, the amount of farm goods purchased by other nations fell. Beyond that, the Kellogg-Briand Pact did little, and was not very functional. The Pact was often violated after. Furthermore, Prohibition was ignored, and women and men alike went to “speakeasies” to drink illegally. Alcohol was also acquired with Bootleggers, who were usually young immigrant men who secretly traded alcohol. Because of competition, fights and gang wars broke out to determine who would be in control of the alcohol