Return to Normalcy and the Great Depression

After World War I, many Americans sought a sense of stability and familiarity, desiring a return to the way of life that existed before the war. This longing for "normalcy" reflected a widespread sentiment to escape the upheaval and uncertainties brought about by the conflict. People wanted to resume their everyday routines, focusing on domestic issues, economic recovery, and social stability rather than the chaos of war. This desire was a reaction to the significant changes and sacrifices made during the war, leading to a collective yearning for peace and normal life.

Warren G. Harding served as the 29th president of the United States from 1921 until his death in 1923. He campaigned on the promise of a "return to normalcy," reflecting a desire to restore the country to pre-World War I conditions and stability. This slogan resonated with many Americans who were weary from the war and the social changes that followed. Harding's presidency focused on economic recovery and a reduction in government intervention, aligning with the sentiments of the time.

The Teapot Dome Scandal was a significant political scandal in the early 1920s involving the secret leasing of federal oil reserves, particularly in Teapot Dome, Wyoming, to private companies. This was orchestrated by Secretary of the Interior Albert B. Fall, who accepted bribes from oil executives in exchange for favorable contracts. The scandal highlighted corruption within President Warren G. Harding's administration and raised public awareness about the need for greater oversight of government officials and their dealings with private interests. It ultimately led to Fall's conviction and a tarnished legacy for Harding's presidency.

The Kellogg-Briand Pact, signed in 1928, aimed to eliminate war as a means of resolving disputes between nations. By promoting the idea that countries should resolve conflicts through peaceful means rather than military action, it sought to create a framework for international cooperation and stability. The pact was a response to the devastation of World War I and reflected a collective desire to prevent future conflicts, although it ultimately lacked enforcement mechanisms and was largely symbolic in nature.

Buying on margin refers to the practice of borrowing funds from a brokerage to purchase stocks, allowing investors to buy more shares than they could with just their own capital. This strategy amplifies potential gains but also increases the risk of significant losses, as investors are responsible for repaying the borrowed amount regardless of stock performance. It essentially leverages an investor's buying power, enabling them to take larger positions in the market.

Black Tuesday refers to October 29, 1929, when the U.S. stock market experienced a catastrophic collapse, marking the beginning of the Great Depression. On this day, panic selling led to a dramatic drop in stock prices, wiping out millions of investors and causing widespread economic turmoil. The event highlighted the vulnerabilities of the financial system and had profound effects on the economy and society, making it a pivotal moment in American history.

The Dust Bowl was a devastating environmental disaster during the 1930s, primarily affecting the Great Plains of the United States. It was characterized by severe drought conditions that led to the failure of crops and the loss of farmland. Poor agricultural practices, combined with high winds, caused massive dust storms that swept across the region, displacing thousands of farming families and exacerbating the economic hardships of the Great Depression. This ecological catastrophe highlighted the vulnerabilities of farming practices and the need for sustainable land management.

John Steinbeck was an influential American author known for his poignant depictions of social issues during the Great Depression, particularly the hardships faced by farmers during the Dust Bowl. His notable works, such as "The Grapes of Wrath," highlight the struggles of displaced families and the impact of economic adversity, making him a key literary figure in capturing the era's challenges. His writing not only reflects the realities of the time but also emphasizes themes of resilience and human dignity.