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Cotton prices at New Orleans peak at 42 cents a pound, prompting Southern farmers to plant the largest crop in history. The resulting overproduction causes a collapse in prices, with cotton falling to less than 10 cents a pound by early 1921. Cotton farmers will toil in near-depression conditions throughout most of the 1920s and 30s.
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The Nineteenth Amendment Is Ratified, Granting Women The Right To Vote
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Congress passes the Fordney-McCumber Tariff, sharply raising tariff duties to protect the American market for American manufactures.The tariff boosts the domestic economy of the Roaring Twenties, but it also worsens the crisis for struggling European economies like Germany's, helping to enable Aldof Hitler’s rise to power there on a platform of economic grievance.
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Germany, burdened by reparations payments imposed by Treaty of Versailles, suffers hyperinflation. One American dollar is now worth 7,000 German marks.
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The market capitalization of Ford Motor Company exceeds $1 Billion
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The Great Mississippi Flood occurs, affecting over 700,000
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Al Jolson's The Jazz Singer, the first "talking" motion picture, premieres, marking the beginning of the end of the silent film era.
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The automobile, steel, rubber, glass, and housing industries are in recession foreshadowing the future events of the depression.
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Herbert Hoover wins election as President of the United States with an Electoral College victory, 444 to 87 over Democratic candidate Alfred E. Smith, the Catholic governor of New York.
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After reaching an all time high in September, the stock market crashes creating a worldwide economic crisis
