Economic Development in America During the 1920's

A RADIO FROM THE 1920's

         The 1920’s were nicknamed the” Roaring Twenties,” because of great economic growth and prosperity during this time. With plenty of opportunities in new industries and businesses, the number of millionaires in America increased 400%.  These new industries, inventions, and discoveries, led to the economic success in America. Some of these new ideas included things like grocery stores, department stores, automobiles, radios, movies, electricity, and other electrical products. More efficient production methods allowed industries and businesses to make larger profits, which they used to make new factories and pay workers higher salaries. Many people during began to spent money freely and started to use banks to keep their money safe. Also during this time stocks rallied and rose to the highest prices that they have ever been before.Though there were many good things that happened throughout the twenties, this great economic development had many dark sides. The ratification of the 18th Amendment, earlier in 1919, began Prohibition in the US. Prohibition banned the production, sale, and transportation of alcohol, but not its consumption. Although alcohol was illegal, during this time many people including gangsters and bootleggers rose up and found Prohibition very profitable. The production and transportation of illegal alcohol was dangerous, but it made bootleggers very rich. In 1929, the boom reached its peak and the only place from there was down.

HEADLINE FROM THE STOCK
MARKET CRASH OF 1929

         The “Roaring Twenties” came to end with the start of The Great Depression. The Great Depression began on October 29^th, 1929, following the collapse of the stock market and New York Stock Exchange. The entire country changed in one day. Stock prices dropped as much as 20%; investments were lost and thousands of people lost everything. This alarmed many people, who immediately withdrew all of their money from banks. This only made the situation even worse by causing many banks and other business to fail and go bankrupt. Millions of people lost their jobs, and many farmers and businesses were ruined. Industries slowed and the American economy began to fall apart. 

         Though the depression was a dark time, the twenties are some of the most important years in our countries’ history. The “Roaring Twenties,” began America’s legacy and built what America is today.

THIS IS A VIDEO ABOUT THE GREAT DEPRESSION,  FROM THE SERIES,THE CENTURY, AMERICA'S TIME: STORMY WEATHER PART I


 Work Cited

"Electrical History: The 1920s (1920-1929)." Electrical Construction and Maintenance (EC&M) Magazine. Web. 03 Feb. 2012. <http://ecmweb.com/mag/electric_9/>.

The 1920's - Roaring Twenties - The Nineteen Twenties in History. Web. 03 Feb. 2012. <http://www.1920-30.com/>.

"Prohibition." 20th Century History. Web. 03 Feb. 2012. <http://history1900s.about.com/od/1920s/p/prohibition.htm>.

Radio in the 1920's. Web. 3 Feb. 2012. https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0PoZBanXFF1l_4glWryKiya4_0QjjmfRm-65ubOYx1qv26CV8pG6tkKuV-zxTQ2DaXK62jDxE72dIgq7ar5ZSz1RzFMEgAMxF7zNIDgHuQpup1nayRdXP5W8uC9UxYSMjgzGoAZNP-xg/s1600/1920s-radio.jpg.

"The Century, America's Time: Stormy Weather (1 of 3) - YouTube." YouTube - Broadcast Yourself. Web. 03 Feb. 2012. <http://www.youtube.com/watch?v=Wil1ePlT1xs>.