This book is an attempt to tell, and in some measure to interpret, the story of what in the future may be considered a distinct era in American history: the eleven years between the end of the war with Germany (November 11, 1918) and the stock-market panic which culminated on November 13, 1929, hastening and dramatizing the destruction of what had been known as Coolidge (and Hoover) Prosperity.
Obviously the writing of a history so soon after the event has involved breaking much new ground. Professor Preston William Slosson, in The Great Crusade and After, has carried his story almost to the end of this period, but the scheme of his book is quite different from that of mine; and although many other books have dealt with one aspect of the period or another, I have been somewhat surprised to find how many of the events of those years have never before been chronicled in full. For example, the story of the Harding scandals (in so far as it is now known) has never been written before except in fragments, and although the Big Bull Market has been analyzed and discussed a thousand times, it has never been fully presented in narrative form as the extraordinary economic and social phenomenon which it was.
Further research will undoubtedly disclose errors and deficiencies in the book, and the passage of time will reveal the shortsightedness of many of my judgments and interpretations. A contemporary history is bound to be anything but definitive. Yet half the enjoyment of writing it has lain in the effort to reduce to some sort of logical and coherent order a mass of material untouched by any previous historian; and I have wondered whether some readers might not be interested and perhaps amused to find events and circumstances which they remember well--which seem to have happened only yesterday--woven into a pattern which at least masquerades as history. One advantage the book will have over most histories: hardly anyone old enough to read it can fail to remember the entire period with which it deals.
As for my emphasis upon the changing state of the public mind and upon the sometimes trivial happenings with which it was preoccupied, this has been deliberate. It has seemed to me that one who writes at such close range, while recollection is still fresh, has a special opportunity to record the fads and fashions and follies of the time, the things which millions of people thought about and talked about and became excited about and which at once touched their daily lives: and that he may prudently leave to subsequent historians certain events and policies, particularly in the field of foreign affairs, the effect of which upon the life of the ordinary citizen was less immediate and may not be fully measurable for a long time. (I am indebted to Mr. Mark Sullivan for what he has done in the successive volumes of Our Own Times to develop this method of writing contemporary history.) Naturally I have attempted to bring together the innumerable threads of the story so as to reveal the fundamental trends in our national life and national thought during the nineteen-twenties.
If time were suddenly to turn back to the earliest days of the Postwar Decade, and you were to look about you, what would seem strange to you? since 1919 the circumstances of American life have been transformed--yes, but exactly how?
Let us refresh our memories by following a moderately well-to-do young couple of Cleveland or Boston or Seattle or Baltimore--it hardly matters which--through the routine of an ordinary day in May, 1919. (I select that particular date, six months after the Armistice of 1918, because by then the United States had largely succeeded in turning from the ways of war to those of peace, yet the profound alterations wrought by the Post-war Decade had hardly begun to take place.) There is no better way of suggesting what the passage of a few years has done to change you and me and the environment in which we live.
From the appearance of Mr. Smith as he comes to the breakfast table on this May morning in 1919, you would hardly know that you are not in the nineteen-thirties (though you might, perhaps, be struck by the narrowness of his trousers). The movement of men's fashions is glacial. It is different, however, with Mrs. Smith.
She comes to breakfast in a suit, the skirt of which--rather tight at the ankles--hangs just six inches from the ground. She has read in Vogue the alarming news that skirts may become even shorter, and that "not since the days of the Bourbons has the woman of fashion been visible so far above the ankle"; but six inches is still the orthodox clearance. She wears low shoes now, for spring has come; but all last winter she protected her ankles either with spats or with high laced "walking-boots," or with high patent-leather shoes with contrasting buckskin tops. Her stockings are black (or tan, perhaps, if she wears tan shoes); the idea of flesh-colored stockings would appall her. A few minutes ago Mrs. Smith was surrounding herself with an "envelope chemise" and a petticoat; and from the thick ruffles on her undergarments it was apparent that she was not disposed to make herself more boyish in form than ample nature intended.
Mrs. Smith may use powder, but she probably draws the line at paint. Although the use of cosmetics is no longer, in 1919, considered prima facie evidence of a scarlet career, and sophisticated young girls have already begun to apply them with some bravado, most well-brought-up women still frown upon rouge. The beauty-parlor industry is in its infancy; there are a dozen hair dressing parlors for every beauty parlor, and Mrs. Smith has never heard of such dark arts as that of face-lifting. When she puts on her hat to go shopping she will add a veil pinned neatly together behind her head. In the shops she will perhaps buy a bathing-suit for use in the summer; it will consist of an outer tunic of silk or cretonne over a tight knitted undergarment--worn, of course, with long stockings.
Her hair is long, and the idea of a woman ever frequenting a barber shop would never occur to her. If you have forgotten what the general public thought of short hair in those days, listen to the remark of the manager of the Palm Garden in New York when reporters asked him, one night in November, 1918, how he happened to rent his hall for a pro-Bolshevist meeting which had led to a riot. Explaining that a well-dressed woman had come in a fine automobile to make arrangements for the use of the auditorium, he added, "Had we noticed then, as we do now, that she had short hair, we would have refused to rent the hall." In Mrs. Smith's mind, as in that of the manager of the Palm Garden, short-haired women, like long-haired men, are associated with radicalism, if not with free love.
The breakfast to which Mr. and Mrs. Smith sit down may have been arranged with a view to the provision of a sufficient number of calories--they need only to go to Childs' to learn about calories--but in all probability neither of them has ever heard of a vitamin.
As Mr. Smith eats, he opens the morning paper. It is almost certainly not a tabloid, no matter how rudimentary Mr. Smith's journalistic tastes may be: for although Mr. Hearst has already experimented with small-sized picture papers, the first conspicuously successful tabloid is yet to be born. Not until June 26, 1919, will the New York Daily News reach the newsstands, beginning a career that will bring its daily circulation in one year to nearly a quarter of a million, in five years to over four-fifths of a million, and in ten years to the amazing total of over one million three hundred thousand.
Strung across the front page of Mr. Smith's paper are headlines telling of the progress of the American Navy seaplane, the NC-4, on its flight across the Atlantic via the Azores. That flight is the most sensational news story of May, 1919. (Alcock and Brown have not yet crossed the ocean in a single hop; they will do it a few weeks hence, eight long years ahead of Lindbergh.) But there is other news, too: of the Peace Conference at Paris, where the Treaty is now in its later stages of preparation; of the successful oversubscription of the Victory Loan ("Sure, we'll finish the job!" the campaign posters have been shouting); of the arrival of another transport with soldiers from overseas; of the threat of a new strike; of a speech by Mayor Ole Hanson of Seattle denouncing that scourge of the times, the I. W. W.; of the prospects for the passage of the Suffrage Amendment, which it is predicted will enable women to take "a finer place in the national life"; and of Henry Ford's libel suit against the Chicago Tribune--in the course of which he will call Benedict Arnold a writer, and in reply to the question, "Have there been any revolutions in this country?" will answer, "Yes, in 1812."
If Mr. Smith attends closely to the sporting news, he may find obscure mention of a young pitcher and outfielder for the Boston Red Sox named Ruth. But he will hardly find the Babe's name in the headlines. (In April, 1919, Ruth made one home run; in May, two; but the season was much further advanced before sporting writers began to notice that he was running up a new record for swatting--twenty-nine home runs for the year; the season had closed before the New York Yankees, seeing gold in the hills, bought him for $125,000; and the summer of 1920 had arrived before a man died of excitement when he saw Ruth smash a ball into the bleachers, and it became clear that the mob had found a new idol. In 1919, the veteran Ty Cobb, not Ruth, led the American League in batting.)
The sporting pages inform Mr. Smith that Rickard has selected Toledo as the scene of a forthcoming encounter between the heavyweight champion, Jess Willard, and another future idol of the mob, Jack Dempsey. (They met, you may recall, on the Fourth of July, 1919, and sober citizens were horrified to read that 19,650 people were so depraved as to sit in a broiling sun to watch Dempsey knock out the six-foot-six-inch champion in the third round. How would the sober citizens have felt if they had known that eight years later a Dempsey-Tunney fight would bring in more than five times as much money in gate receipts as this battle of Toledo?) In the sporting pages there may be news of Bobby Jones, the seventeen-year-old Southern golf champion, or of William T. Tilden, Jr., who is winning tennis tournaments here and there, but neither of them is yet a national champion. And even if Jones were to win this year he would hardly become a great popular hero; for although golf is gaining every day in popularity, it has not yet become an inevitable part of the weekly ritual of the American business man. Mr. Smith very likely still scoffs at "grown men who spend their time knocking a little white ball along the ground"; it is quite certain that he has never heard of plus fours; and if he should happen to play golf he had better not show his knickerbockers in the city streets, or small boys will shout to him, "Hey, get some men's pants!"
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