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United States History
Topic1
The 1920’s was a time for Americans, as stated by President Harding, to “Return to normalcy”, following a period of 5 years of world war that had left the United States of America in a state of chaos and stagnation. This return to normalcy was marked by major technological, business-related and cultural advances. This was evidenced, for instance, by a revolution in the structure of advertising of business products as well as the development of new goods and services for American consumption (Berkin, Miller, Cherry, & Gormly 683).
Increased consumption also led to a change in people’s trends of buying, whereas previously Americans would buy only in cash, now sellers encouraged consumers to buy on credit and installment plans, and this in turn led to rapid growth of financial companies to give loans. The concept of buying on credit was further extended to the stock market where stock market speculation was a practice that ran rampant with people hoping to strike it rich quick (Berkin et al 686). Stock prices rose higher and higher, partly due to speculation and partly due to real economic growth, and this fostered a sense of endless prosperity among Americans.
America strived to become one homogenized culture by breaking down barriers based on region and ethnicity (Berkin et al 690). This was made possible through the media of mass communication and also though entertainment choice. Americans all across the nation laughed or cried at the same movie. Commercial radio broadcasting also contributed to homogeneity as many households had radios by 1930. The automobile, which greatly reduced travel time, and new laws, which limited immigration, also facilitated the development of a homogenous American culture.
Topic 2
“The business of America is business” in the book by Berkin, Miller, Cherry & Gormly, was a phrase declared by President Calbin Coolidge which meant that free market as well as free operation of business was the best was to maintain economic affluence for all (740). As the president he set out to make sure that government did not interfere with business operations. The McNary-Haugen bill approved by the congress in 1927 declared that the government would buy agricultural products then sell them in the world market on behalf of the farmers. President Calbin Coolidge did not sign the bill into law due to his policy of non-interference by the government. In contrast, The Railway Act of 1926 was passed by a majority of members of congress meeting most of the railway union’s demands thus removing them from politics. As explored by Berkin et al, Coolidge cut federal spending and staffed federal agencies with people who shared his distaste for too much government (741).
The quote by President Calbin is also represented in the economic policy of the American government as manifested by Hoover. In the same view as Calbin, Hoover believed that the responsibility of the government was to promote corporation without resulting to punitive measures such as antitrust laws (Berkin et al 741). According to Hoover, the government could help in finding solutions for the social and economic problems but the government lacked the power to solve problems by itself.
Conclusively, the era of the two leaders ultimately contributed to the Great Depression of 1929 making America a leading creditor nation (Berkin et al 743). The Fordney-McCumber Tariff made it a challenge for Europeans to repay the U.S. and this would have reduced some of the debt. Since the U.S. debt could not be decreased the U.S. was incapable of helping its people from the depression.
Reference
Berkin, Miller, Cherny, Gormly. Making America: A History of the United States volume 2 from 1865. USA: Cengage Learning Inc., 2005. Print.
