In an 1891 essay on a New York Times page called “History of the Twenties” (published in an 1898 edition), Charles B. Adams wrote the following:
“The century that the United States began at one of its most brilliant moments, the great age of industrial prosperity—the year 1879—seems almost anachronistic today. Its prosperity came to an end with the great depression of the 1890s; this depression lasted more than a year, and for more than six years. During that time there were no financial panics. A new prosperity was born amidst war and revolution; but we are not so fortunate as then. We have two hundred-dollar bills, and the average family is indebted to the government at a sum greater than all of Europe. We have the world in which those who make the money, or who profit by the prosperity of the economy, can take it in their own hands, as they see it best. No such country exists.”
For an example of this type of viewpoint, take a look at a 1920s cartoon on a Wall Street Journal page:
In this cartoon in 1930, the U.S. economy is on the verge of economic collapse due to deflation. The country is struggling to stay afloat under the weight of rising wages for workers. The United States government has taken drastic action (e.g. the federal income tax) to protect domestic manufacturing industries from competition. This cartoon was written in 1927:
In this year’s edition of the New York Times, Bill Moyers and Joe Colls wrote that “the greatest challenge facing the Nation in the 1920s was the decline in living standards that followed World War I.” In the same article they noted:
“What became clear early on was that the Depression, caused by a combination of bad loans and bad loans in the banking system, was nothing of the sort. There were no new business opportunities in the cities. The depression was so great that many manufacturers and farmers decided it was time to make their way to the North or West, rather than to the East.”
Today, the world isn’t going through the same economic collapse. There is a lot of economic growth because of the free trade and market mechanisms. But in the 1920s there was a great deal of economic development taking place and the U.S. still had huge amounts of problems to solve.
The 1920s Depression was caused by the financial crisis and inflation caused by a bad loan bubble. Today,
flapper dress costume amazon, flapper dresses 1920s gatsby set, 1920s flapper dress great gatsby, 1920s flapper dress patterns, amazon plus size flapper dress