Recently my Mom passed away (she was 95), and of course I was sad. One of the many thoughts that came to mind was how different everything was when she was born in 1914 and while she was growing up in the Roaring Twenties and the Great Depression.
Not every home had electricity or running water. The wood stove was used by most Americans, as was the ice box, which was eventually replaced by the refrigerator. Houses came with parlors, pantries and cellars used for the cold storage of winter vegetables.
Following World War I, the American economy went into a deep recession with 20% unemployment and high inflation. But soon new government economic policies, new inventions and increased consumer spending led to a booming U.S. economy that accelerated as the decade wore on. Presidents Harding and Coolidge were instrumental in pushing the economy forward.
The automobile became commonplace and led to new road construction, motels and gas stations. Henry Ford became the clear winner with his Model T and efficient factories. Nearly 180 other auto makers sprung up during the 1920s, as new entrepreneurs flocked to make their fortune in the new technology of the automobile and other inventions of the day.
New radio stations began to play recordings by such greats as Louis Armstrong and Duke Ellington. New dance halls produced many new dances including the Charleston and Lindy Hop.
Women fought for equal rights and gained greater respect in the workplace. Women began entering colleges and universities. They threw away their Victorian attire and switched to the Flapper style with slinky knee-length dresses.
Investors took note of the booming economy and sent the stock market to new heights. Rampant speculation gave an illusion that the new bull market would last forever. Sound familiar? On October 29, 1929, the stock market crashed and the Great Depression followed.
The 1930s started off badly, and the economy worsened and spread worldwide. The stock market continued to plummet, and unemployment reached 25%. Farming was a major industry back then, and suffered severely as prices for farm crops fell 60% and droughts parched the Great Plains. Other prices dropped, too, leading to a deflationary spiral and low interest rates. Bank account withdrawals and loan defaults led to the failure of 9,000 banks. Wow! Many Americans lost all of their money.
Recovery from the depression started in 1933 but was so slow that unemployment was still 15% in 1940. Government spending on World War II accelerated the recovery from the Great Depression.
Many inventions were created during the 1930s; including Scotch tape, the RCA phonograph and Kodak‘s Kodachrome. The airplane became a new mode of transportation. Radio became the dominant mass medium. The Empire State Building was completed in 1931. And President Franklin Delano Roosevelt initiated the New Deal with many government construction and conservation programs to jump-start the sputtering economy.
F. Scott Fitzgerald, Ernest Hemingway, John Steinbeck and others penned great literary works. The new Golden Age of Hollywood brought many classic movies such as “Gone with the Wind,” “The Wizard of Oz” and “King Kong.” Leading Hollywood actors and actresses became household names including Laurel and Hardy, Judy Garland, Clark Gable, Vivian Leigh and Humphrey Bogart.
Sports became more popular with baseball becoming America’s game. My Mom’s all-time favorite: Ted Williams; along with Babe Ruth, Dizzy Dean, Joe DiMaggio, Leo Durocher, Jimmie Foxx, Lou Gehrig and Mel Ott attracted millions of new fans.
Later in history, the generation that endured the Great Depression became known as the Greatest Generation. They learned many hard lessons during the Depression and World War II that built character and humility.