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Societal and Cultural Changes in the Roaring Twenties

4 Pages 980 Words December 2020

The Roaring Twenties were a time of monetary success with unimaginable social benefits in New York, Chicago, Detroit, Los Angeles, and many other urban communities. Economically, this period saw a boom in the use of cars, telephones, films, electricity, and other types of society-changing development. The acquisition of the franchise by women was one of the biggest events in history. During the twentieth-century jazz music gave women an outlet to rebel when they very oppressed. The Wall Street crash in 1929 ended the Great Depression, causing universal suffering and hardship.
Stock prices began to fall in September. In early October 1929 and began to fall on October 18. Panic spread and a record 12,894,650 shares were sold on Thursday, October 24. Investment firms and major bankers sought to stabilize the market by purchasing large blocks of stock, resulting in a moderate rally on Friday. However, on Monday the storm spread again and the market went into free fall. Black Monday was followed by Black Monday, when stock prices fell and 16,410,030 shares traded on the New York Stock Exchange in a single day. Billions of dollars were lost, thousands of investors were killed, and stock prices fell behind for hours as the goods were unable to handle large volumes of trade. After October 29, 1929, stock prices did not rise much, but there was a significant recovery in the weeks that followed. Overall, however, prices continued to decline as the United States came under widespread pressure, and by 1932, the stock price was only 20% in the summer. The stock market crash of 1929 was not only the cause of the depression, but also the symbol of the global economic collapse. By 1933, half of American banks had gone bankrupt and unemployment had reached 15 million, or about 30 percent of the workforce. During this time African Americans had it the hardest, they were “ last hired, first fired” , women also had a rough time but they had it slightl...

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