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Narrator: This is the story
of America...
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00:00:10,778 --> 00:00:14,179
Seen in color
for the first time.
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00:00:19,620 --> 00:00:23,555
It's the roaring '20s.
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00:00:23,557 --> 00:00:25,524
The country is flourishing.
5
00:00:29,196 --> 00:00:32,698
And the economy isn't
the only thing roaring.
6
00:00:32,700 --> 00:00:36,301
Henry Ford ignites
the auto industry.
7
00:00:38,371 --> 00:00:40,205
Radio unifies the nation...
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00:00:40,207 --> 00:00:42,341
Announcer: ...Dempsey's face.
He lands a right.
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00:00:42,343 --> 00:00:45,210
Then dempsey comes back!
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00:00:45,212 --> 00:00:49,748
Narrator: As Charles Lindbergh
ushers in the era of aviation.
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00:00:49,750 --> 00:00:54,520
Americans are celebrating
good times.
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00:00:54,522 --> 00:00:57,623
Woman: What's the greatest
country in the whole world?
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00:00:57,625 --> 00:01:00,125
Women: America!
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00:01:00,127 --> 00:01:04,363
Narrator: But progress
also brings peril.
15
00:01:04,365 --> 00:01:09,468
Prohibition makes al Capone
a celebrity gangster,
16
00:01:09,470 --> 00:01:13,205
and the ku klux klan marches
the streets of the capital.
17
00:01:15,241 --> 00:01:19,111
Then, after eight years
of incredible prosperity
18
00:01:19,113 --> 00:01:24,450
comes black Tuesday
and the crash of '29.
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00:01:24,452 --> 00:01:27,186
This is the story of the '20s,
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00:01:27,188 --> 00:01:29,288
as you've never
seen them before.
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00:01:47,408 --> 00:01:49,308
John f. Kennedy:
I want us to recapture that.
22
00:02:03,723 --> 00:02:06,658
Narrator: New York, 1919.
23
00:02:06,660 --> 00:02:11,396
Two million U.S. soldiers return
victorious from world war I.
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00:02:16,470 --> 00:02:18,537
They parade through
Madison square
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00:02:18,539 --> 00:02:22,274
optimistic about a young country
on the rise.
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00:02:27,148 --> 00:02:28,780
At the start of the decade
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00:02:28,782 --> 00:02:31,884
New York is the world's largest
financial market,
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00:02:31,886 --> 00:02:35,254
the beating heart
of American capitalism.
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00:02:36,689 --> 00:02:38,857
But both veterans and bankers
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00:02:38,859 --> 00:02:43,162
are in for an unpleasant
surprise.
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00:02:43,164 --> 00:02:46,498
At noon on September 16, 1920,
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a horse-drawn wagon
passing by lunchtime crowds
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00:02:49,937 --> 00:02:52,504
stops across from
the j.P. Morgan bank
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00:02:52,506 --> 00:02:54,606
at 23 wall street.
35
00:02:54,608 --> 00:02:55,941
Then...
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00:02:59,346 --> 00:03:04,783
An explosion kills 38 and
leaves 143 seriously wounded.
37
00:03:13,260 --> 00:03:16,628
Anarchists targeting the rich
are the prime suspects,
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00:03:16,630 --> 00:03:19,364
but no one is ever arrested.
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00:03:19,366 --> 00:03:22,768
A flash of terror,
quickly forgotten.
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00:03:24,637 --> 00:03:26,672
Trading resumes the next day
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00:03:26,674 --> 00:03:28,340
as the wolves of wall street
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00:03:28,342 --> 00:03:33,345
launch a decade
of unprecedented growth.
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00:03:33,347 --> 00:03:36,748
But before the party
comes a hangover.
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00:03:38,785 --> 00:03:40,886
The end of wartime production
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00:03:40,888 --> 00:03:45,224
slams the brakes
on America's economy.
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00:03:45,226 --> 00:03:47,859
Nearly half of returning
soldiers find themselves
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00:03:47,861 --> 00:03:51,463
unemployed and
relying on breadlines.
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00:03:53,433 --> 00:03:58,270
Many Americans are
hurting financially.
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00:03:58,272 --> 00:04:00,906
For those who can't afford
leather shoes,
50
00:04:00,908 --> 00:04:03,842
an enterprising store offers
a cheaper alternative--
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00:04:03,844 --> 00:04:07,479
clogs made of wood.
52
00:04:14,922 --> 00:04:18,624
In march 1921, new president
Warren g. Harding
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00:04:18,626 --> 00:04:20,959
promises to put things right
for America.
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00:04:20,961 --> 00:04:23,562
A return to normalcy.
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00:04:28,534 --> 00:04:30,535
Historians will later
view Harding
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00:04:30,537 --> 00:04:33,005
as one of America's
worst presidents,
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00:04:33,007 --> 00:04:34,773
but during his term,
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00:04:34,775 --> 00:04:37,976
he benefitted from an age
of rapid innovation.
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00:04:41,014 --> 00:04:44,683
One early adopter is
a fox movietone news cameraman,
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00:04:44,685 --> 00:04:47,352
Harry birch of Chicago.
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00:04:50,390 --> 00:04:52,858
When he's not filming newsreels,
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00:04:52,860 --> 00:04:55,627
he takes some of the earliest
known home movies,
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00:04:55,629 --> 00:04:58,697
featuring his wife Lucille
and son bill.
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00:05:04,638 --> 00:05:08,774
Cars are becoming so popular
that even young bill has one.
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00:05:14,481 --> 00:05:17,649
His dad has the must-have
marvel of the day,
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00:05:17,651 --> 00:05:20,419
the revolutionary Ford model t.
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00:05:26,092 --> 00:05:28,560
Its designer is Henry Ford,
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00:05:28,562 --> 00:05:31,763
the greatest engineer
of his era.
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00:05:31,765 --> 00:05:35,067
By the 1920s,
Ford and his "tin Lizzie"
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00:05:35,069 --> 00:05:37,969
have turned America into
a nation of car owners.
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00:05:37,971 --> 00:05:39,905
Henry Ford: If a young man
makes up his mind to work,
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00:05:39,907 --> 00:05:42,040
there's no limit
to what he can do.
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00:05:46,012 --> 00:05:48,747
Narrator: In 1913,
Ford had introduced
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00:05:48,749 --> 00:05:50,649
the moving assembly line,
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00:05:50,651 --> 00:05:53,752
a revolution
in auto manufacturing.
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00:05:57,357 --> 00:06:00,559
Workers used to make
one car at a time.
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00:06:00,561 --> 00:06:03,095
Ford puts them in workstations,
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00:06:03,097 --> 00:06:04,730
installing each part
of the chassis
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00:06:04,732 --> 00:06:07,733
as it moves down the line.
80
00:06:07,735 --> 00:06:10,902
It's up to four times faster
than the old way.
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00:06:13,706 --> 00:06:16,141
Black paint is cheap
and durable.
82
00:06:16,143 --> 00:06:20,379
Ford famously says customers
can have any color they like,
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"so long as it's black."
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00:06:27,653 --> 00:06:33,925
By 1920 a new car rolls
off the line every two hours,
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00:06:33,927 --> 00:06:38,163
and over half of all cars
in America are model ts.
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00:06:40,466 --> 00:06:45,737
Each one is simple,
reliable and durable.
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00:06:45,739 --> 00:06:48,874
Important in a nation where
less than 2% of the roads
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are suitable for driving.
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00:06:55,749 --> 00:06:59,851
Ford also revolutionizes
business practices.
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00:06:59,853 --> 00:07:03,989
He gives employees
a five-day workweek,
91
00:07:03,991 --> 00:07:06,124
their first weekends off,
92
00:07:06,126 --> 00:07:09,728
and pays them enough to afford
their own model t,
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00:07:09,730 --> 00:07:13,031
selling at a little over $300.
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00:07:13,033 --> 00:07:15,867
In his company newsletter,
Ford says,
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00:07:15,869 --> 00:07:18,770
"it is high time to rid
ourselves of the notion
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00:07:18,772 --> 00:07:21,740
that leisure for workmen
is either lost time
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00:07:21,742 --> 00:07:25,444
or a class privilege."
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Millions of sales turn
Detroit into a boomtown...
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And Ford into a billionaire.
100
00:07:42,995 --> 00:07:46,498
It's a new age of
great industrialists.
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00:07:46,500 --> 00:07:51,102
In 1921 Ford joins tire magnate
Harvey firestone, on the left,
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00:07:51,104 --> 00:07:53,638
and inventor Thomas Edison,
on the right,
103
00:07:53,640 --> 00:07:55,474
on a trip to the catskills.
104
00:08:03,816 --> 00:08:06,485
Even president Harding
pays a visit.
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00:08:12,826 --> 00:08:15,527
As four of the most powerful
people on the planet
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00:08:15,529 --> 00:08:17,762
take a break from
the stresses of work
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00:08:17,764 --> 00:08:19,965
and enjoy the great outdoors,
108
00:08:19,967 --> 00:08:22,701
across the country,
new roads emerge
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00:08:22,703 --> 00:08:25,737
to accommodate millions
of new car owners.
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00:08:31,912 --> 00:08:36,681
By 1922, the economy is kicking
into high gear.
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00:08:38,818 --> 00:08:42,220
But there's one business
that won't be joining the boom.
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00:08:52,299 --> 00:08:57,068
Just two years earlier,
prohibition became law.
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It bans the production
and sale of alcohol.
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00:09:07,046 --> 00:09:10,615
This 1922 footage
in long beach, California,
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00:09:10,617 --> 00:09:15,287
shows the police destroying
$30,000 worth of liquor.
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00:09:15,289 --> 00:09:19,090
This is some of the earliest
film ever of prohibition.
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00:09:21,027 --> 00:09:24,162
America is again
a productive nation,
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00:09:24,164 --> 00:09:28,166
and many believe it's also
become a sober nation as well.
119
00:09:28,168 --> 00:09:32,771
But for some,
the party never ends...
120
00:09:32,773 --> 00:09:35,106
It just goes underground.
121
00:09:37,977 --> 00:09:39,744
In this rare home movie,
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00:09:39,746 --> 00:09:42,280
the Adams family
of brattleboro, Vermont,
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00:09:42,282 --> 00:09:45,817
films a party where
the liquor flows freely.
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00:09:47,853 --> 00:09:50,689
A loophole in the law
allows people to drink
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00:09:50,691 --> 00:09:53,792
existing supplies at home.
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00:09:55,728 --> 00:09:59,898
Even manufacturers
find work-arounds.
127
00:09:59,900 --> 00:10:03,702
In napa valley,
vineyards stop making wine
128
00:10:03,704 --> 00:10:09,674
and start selling bricks of
dried grapes with instructions.
129
00:10:09,676 --> 00:10:12,310
Woman: Say, Lucille, what do
they do with all these grapes?
130
00:10:12,312 --> 00:10:16,748
Woman: Well, my father buys them
to make grape juice.
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00:10:16,750 --> 00:10:19,150
Woman: He would.
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00:10:19,152 --> 00:10:24,656
Narrator: Adding water and three
weeks in a cupboard makes wine.
133
00:10:24,658 --> 00:10:28,660
But even these loopholes
don't meet the enormous demand.
134
00:10:35,035 --> 00:10:37,235
There's a growing black market,
135
00:10:37,237 --> 00:10:41,239
and organized crime is happy
to satisfy the country's thirst.
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00:10:45,245 --> 00:10:47,078
By the end of the '20s,
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00:10:47,080 --> 00:10:50,715
al Capone is earning millions of
dollars a year from bootlegging.
138
00:10:57,658 --> 00:10:59,357
He's not the only one.
139
00:11:02,229 --> 00:11:04,996
Competition leads to gang wars.
140
00:11:04,998 --> 00:11:08,133
Nearly 600 mobsters die
in Chicago alone
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00:11:08,135 --> 00:11:10,402
over the course of the decade.
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00:11:12,004 --> 00:11:15,306
The violence does nothing
to slow the demand.
143
00:11:19,980 --> 00:11:23,948
The quest for a stiff drink
gives birth to the speakeasy--
144
00:11:23,950 --> 00:11:26,451
password-protected
entertainment...
145
00:11:26,453 --> 00:11:28,787
With a shot of freedom.
146
00:11:31,791 --> 00:11:35,060
For women who just won
the right to vote in 1920,
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00:11:35,062 --> 00:11:41,366
these underground bars inspire
a new, uninhibited lifestyle...
148
00:11:41,368 --> 00:11:44,769
One that will shock the more
conservative sectors of society.
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00:11:47,741 --> 00:11:50,842
As the writer Dorothy Parker
puts it,
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00:11:50,844 --> 00:11:53,211
"she's not what grandma
used to be."
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00:12:01,454 --> 00:12:04,289
The flapper, a hit movie,
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00:12:04,291 --> 00:12:07,892
gives a name to this brash,
new generation of women.
153
00:12:28,348 --> 00:12:29,881
Flappers cast aside
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00:12:29,883 --> 00:12:33,184
much of what society considers
proper behavior.
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00:12:38,291 --> 00:12:43,795
They wear short dresses,
bobbed hair and lavish makeup,
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00:12:43,797 --> 00:12:46,531
celebrating
a newfound sexuality.
157
00:12:54,039 --> 00:12:56,207
The cosmetics industry booms
158
00:12:56,209 --> 00:12:59,511
as more women adopt
the flapper style.
159
00:12:59,513 --> 00:13:02,313
Cigarettes become
a symbol of liberation,
160
00:13:02,315 --> 00:13:04,816
and women embrace the image.
161
00:13:08,254 --> 00:13:11,823
The jazz age is in full swing.
162
00:13:11,825 --> 00:13:14,559
Most Americans have never
had it so good.
163
00:13:19,099 --> 00:13:23,935
But while the flappers celebrate
their social revolution,
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00:13:23,937 --> 00:13:28,439
other Americans are reacting to
change in a very different way.
165
00:13:31,143 --> 00:13:35,480
In the rural south,
a dark force is rising,
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00:13:35,482 --> 00:13:39,050
and a dormant volcano
is about to explode.
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00:13:52,599 --> 00:13:57,302
It's 1923, and America
is on the upswing.
168
00:13:59,538 --> 00:14:03,408
Well-paid jobs abound,
as industry thrives
169
00:14:03,410 --> 00:14:07,145
and a largely unregulated
stock market booms.
170
00:14:10,015 --> 00:14:13,985
Then, in August,
president Harding dies suddenly
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00:14:13,987 --> 00:14:15,587
from a heart attack.
172
00:14:22,429 --> 00:14:24,529
His successor, Calvin coolidge,
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00:14:24,531 --> 00:14:28,600
carries the torch of small
government and big business.
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00:14:28,602 --> 00:14:30,501
Calvin coolidge:
One of the greatest favors
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00:14:30,503 --> 00:14:34,005
that can be bestowed upon
the American people
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00:14:34,007 --> 00:14:37,075
is economy in government.
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00:14:37,077 --> 00:14:39,644
Narrator: "Silent Cal"
famously says,
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00:14:39,646 --> 00:14:44,649
"the chief business of the
American people is business."
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00:14:46,552 --> 00:14:50,321
For most Americans,
the future is bright.
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00:14:50,323 --> 00:14:52,257
But the country's
political, social,
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00:14:52,259 --> 00:14:54,192
and economic institutions
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00:14:54,194 --> 00:14:57,562
strongly favor white citizens
over people of color.
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00:15:02,034 --> 00:15:03,534
And nowhere is it worse
184
00:15:03,536 --> 00:15:06,971
than for blacks living
in the Jim crow south.
185
00:15:12,279 --> 00:15:15,947
Many live and work in tough,
segregated conditions.
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00:15:20,420 --> 00:15:22,520
As these rare recordings show,
187
00:15:22,522 --> 00:15:24,355
the work songs have
changed little
188
00:15:24,357 --> 00:15:26,190
since the time of slavery.
189
00:15:38,204 --> 00:15:42,340
In south Carolina, they lay the
tracks for America's railways.
190
00:15:46,946 --> 00:15:48,947
And in port Norris, New Jersey,
191
00:15:48,949 --> 00:15:51,516
they shuck oysters
for wealthy diners.
192
00:16:11,237 --> 00:16:14,739
Some African American
communities are prospering,
193
00:16:14,741 --> 00:16:19,277
like the residents of greenwood,
a suburb of Tulsa, Oklahoma.
194
00:16:25,318 --> 00:16:29,387
Here former slaves were given
land after the civil war,
195
00:16:29,389 --> 00:16:33,491
and this rare footage shows
the thriving town they built.
196
00:16:37,764 --> 00:16:42,233
A remarkable baptist pastor
named Solomon sir Jones
197
00:16:42,235 --> 00:16:44,502
is the pioneering filmmaker.
198
00:16:44,504 --> 00:16:49,474
His footage was lost
for more than 50 years.
199
00:16:49,476 --> 00:16:52,744
Jones captures the bustling life
of greenwood,
200
00:16:52,746 --> 00:16:55,546
which could be
any American small town.
201
00:17:07,794 --> 00:17:11,462
But Tulsa's whites
don't like what they see.
202
00:17:13,565 --> 00:17:15,500
In may 1921,
203
00:17:15,502 --> 00:17:19,070
after a black man is accused
of assaulting a white woman,
204
00:17:19,072 --> 00:17:23,307
a white mob rampages
through the city.
205
00:17:23,309 --> 00:17:28,079
For a night and a day,
they loot and burn greenwood.
206
00:17:28,081 --> 00:17:32,784
A fox news crew captures
the only surviving footage.
207
00:17:32,786 --> 00:17:36,754
It is the bloodiest racial
massacre in American history,
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00:17:36,756 --> 00:17:39,690
leaving nearly 300 dead.
209
00:17:50,303 --> 00:17:53,371
Behind the violence
is a terrifying force
210
00:17:53,373 --> 00:17:58,676
born in the 19th century,
but until now, silent.
211
00:17:58,678 --> 00:18:01,746
The second wave of
the ku klux klan.
212
00:18:07,253 --> 00:18:10,354
News photographers capture
a klan march in Tulsa
213
00:18:10,356 --> 00:18:13,091
one year after the riots.
214
00:18:16,328 --> 00:18:19,497
The klan appeals to white
Americans who feel threatened
215
00:18:19,499 --> 00:18:22,300
by the fast pace of change
in the '20s.
216
00:18:30,876 --> 00:18:35,213
Born in the south,
the kkk spreads north.
217
00:18:44,390 --> 00:18:49,293
Its members promote what
they call "100% americanism,"
218
00:18:49,295 --> 00:18:55,333
targeting not just blacks,
but catholics, Jews, immigrants.
219
00:18:58,637 --> 00:19:00,238
At the height of its power,
220
00:19:00,240 --> 00:19:03,574
newsreels capture
40,000 klansmen and women
221
00:19:03,576 --> 00:19:05,810
massing in support
of white supremacy
222
00:19:05,812 --> 00:19:09,747
on the streets
of Washington, D.C.
223
00:19:09,749 --> 00:19:14,819
By 1924, its membership reaches
a staggering four million.
224
00:19:14,821 --> 00:19:19,257
The kkk will remain a force
of bigotry in this country
225
00:19:19,259 --> 00:19:21,559
for generations to come.
226
00:19:25,564 --> 00:19:29,467
Racial tensions in the south
and bountiful jobs in the north
227
00:19:29,469 --> 00:19:33,271
prompt many African Americans
to uproot their families.
228
00:19:35,641 --> 00:19:38,809
Nearly 1.6 million people
choose to move
229
00:19:38,811 --> 00:19:41,946
in what becomes known
as the great migration.
230
00:19:43,649 --> 00:19:48,486
It transforms neighborhoods
like New York's Harlem.
231
00:19:48,488 --> 00:19:51,589
Black Americans bring their
culture and music with them--
232
00:19:51,591 --> 00:19:53,391
blues, jazz.
233
00:20:00,233 --> 00:20:01,599
Not for the last time,
234
00:20:01,601 --> 00:20:04,502
black music is adopted
by white America.
235
00:20:16,649 --> 00:20:18,249
In one of the earliest
recordings
236
00:20:18,251 --> 00:20:20,384
of an all-white jazz band,
237
00:20:20,386 --> 00:20:22,386
Ben Bernie and his orchestra
238
00:20:22,388 --> 00:20:25,923
play their 1925 hit
"sweet Georgia brown."
239
00:20:31,764 --> 00:20:33,965
Jazz finds a new home
240
00:20:33,967 --> 00:20:36,567
in the raucous speakeasies
and nightclubs
241
00:20:36,569 --> 00:20:39,971
of the Cosmopolitan cities.
242
00:20:39,973 --> 00:20:43,507
A flamboyant former actress
named Texas guinan
243
00:20:43,509 --> 00:20:45,643
runs New York's 300 club,
244
00:20:45,645 --> 00:20:49,714
often greeting her customers
with, "hello, suckers."
245
00:20:49,716 --> 00:20:51,616
Texas guinan: Before I start
to sing this song,
246
00:20:51,618 --> 00:20:54,619
I want it understood that
no sucker in this room
247
00:20:54,621 --> 00:20:57,455
had better mention not a word.
248
00:20:57,457 --> 00:20:59,790
Narrator: Black music,
illegal booze
249
00:20:59,792 --> 00:21:00,958
and liberated women
250
00:21:00,960 --> 00:21:02,760
make her a fortune.
251
00:21:02,762 --> 00:21:05,663
Guinan: What's the greatest
country in the whole world?
252
00:21:05,665 --> 00:21:08,332
Women: America!
253
00:21:10,669 --> 00:21:12,703
Narrator: At guinan's 300 club,
254
00:21:12,705 --> 00:21:16,374
the roaring '20s reach
a colorful crescendo.
255
00:21:21,714 --> 00:21:23,814
Parts of the United States
are evolving
256
00:21:23,816 --> 00:21:25,816
faster than ever before.
257
00:21:28,988 --> 00:21:30,755
In the middle of the decade,
258
00:21:30,757 --> 00:21:33,658
a new technology will
unite the country
259
00:21:33,660 --> 00:21:35,326
and create new heroes.
260
00:21:35,328 --> 00:21:36,961
Announcer: ...Dempsey's face.
He lands a right.
261
00:21:36,963 --> 00:21:38,562
Then dempsey comes back!
262
00:21:38,564 --> 00:21:43,634
And...Now tunney is down!
Tunney is down!
263
00:21:50,576 --> 00:21:55,079
Narrator: As 1925 begins,
prosperity and new inventions
264
00:21:55,081 --> 00:21:58,649
revolutionize everyday life
in America.
265
00:22:01,586 --> 00:22:04,555
Modern conveniences
we now take for granted
266
00:22:04,557 --> 00:22:06,657
appear for the first time.
267
00:22:08,761 --> 00:22:11,996
Vacuum cleaners replace
carpet beaters.
268
00:22:11,998 --> 00:22:14,965
Electric refrigerators, ovens,
and washing machines
269
00:22:14,967 --> 00:22:17,001
save hours of work.
270
00:22:22,508 --> 00:22:26,110
But the invention that brings
the whole country together...
271
00:22:26,112 --> 00:22:27,712
Is radio.
272
00:22:33,820 --> 00:22:36,454
This is radio row,
273
00:22:36,456 --> 00:22:38,689
New York City's
cortlandt street,
274
00:22:38,691 --> 00:22:42,460
the world's largest collection
of electronics stores.
275
00:22:42,462 --> 00:22:45,763
It will remain this way
until 1966
276
00:22:45,765 --> 00:22:49,700
when it's leveled to make way
for the world trade center.
277
00:22:49,702 --> 00:22:53,804
Shop after shop competes
by selling different models.
278
00:22:55,774 --> 00:22:58,509
And here, actual sounds
of street crowds
279
00:22:58,511 --> 00:23:00,544
listening to a radio broadcast.
280
00:23:12,624 --> 00:23:15,860
Advertisers quickly see
new and exciting ways
281
00:23:15,862 --> 00:23:17,728
to reach a massive audience.
282
00:23:22,034 --> 00:23:24,735
On Christmas Eve, 1926,
283
00:23:24,737 --> 00:23:28,406
wheaties airs the first
commercial jingle,
284
00:23:28,408 --> 00:23:33,778
and the cereal becomes
the most popular in America.
285
00:23:38,751 --> 00:23:41,185
It's branded
the "breakfast of champions"
286
00:23:41,187 --> 00:23:44,088
and soon features prominent
sports figures on each box.
287
00:23:51,831 --> 00:23:54,965
For the first time, Americans
can listen to sports events
288
00:23:54,967 --> 00:23:59,069
as they happen,
anywhere in the country...
289
00:23:59,071 --> 00:24:03,073
Especially the national pastime,
baseball.
290
00:24:03,075 --> 00:24:06,110
Players quickly become
American heroes.
291
00:24:09,449 --> 00:24:14,718
None is bigger than babe Ruth.
292
00:24:14,720 --> 00:24:17,455
No radio recordings
of games exist,
293
00:24:17,457 --> 00:24:19,723
and this footage is rare.
294
00:24:22,561 --> 00:24:25,029
Ruth starts his career
as a pitcher,
295
00:24:25,031 --> 00:24:27,097
but soon evolves into
the greatest slugger
296
00:24:27,099 --> 00:24:29,900
the game has ever seen.
297
00:24:33,138 --> 00:24:36,474
In 1920, his first season
with the Yankees,
298
00:24:36,476 --> 00:24:39,543
he leads the league
with 54 home runs.
299
00:24:43,583 --> 00:24:46,784
The next highest total is 19.
300
00:24:49,221 --> 00:24:51,822
Babe Ruth: So, honey,
how'd you like that one? Huh?
301
00:24:51,824 --> 00:24:55,559
Narrator: He and his wife Claire
are a glamorous power couple.
302
00:24:55,561 --> 00:24:56,794
Ruth: Well, I'm going out now
303
00:24:56,796 --> 00:24:58,128
and try to make
another one for you.
304
00:24:58,130 --> 00:24:59,163
Alright, darling.
305
00:24:59,165 --> 00:25:00,531
Man: Peanuts, cigars!
306
00:25:02,000 --> 00:25:04,702
Narrator: He sets one of
the game's greatest records
307
00:25:04,704 --> 00:25:06,971
in September of 1927
308
00:25:06,973 --> 00:25:10,207
by hitting 60 home runs
in a single season.
309
00:25:14,146 --> 00:25:16,280
And the Yankees reward him
with a contract
310
00:25:16,282 --> 00:25:19,650
for $80,000 per year--
311
00:25:19,652 --> 00:25:23,621
an astronomical amount
at that time.
312
00:25:33,699 --> 00:25:35,232
Announcer: Tunney tries
his one-two...
313
00:25:35,234 --> 00:25:39,904
Narrator: By 1926,
five million homes own a radio,
314
00:25:39,906 --> 00:25:42,106
a staggering increase
on the 2,000 homes
315
00:25:42,108 --> 00:25:44,708
at the start of decade.
316
00:25:44,710 --> 00:25:46,677
Just in time for one
of the century's
317
00:25:46,679 --> 00:25:50,314
greatest sporting controversies.
318
00:25:50,316 --> 00:25:55,185
Boxer Jack dempsey has won
66 bouts over 13 years.
319
00:25:58,023 --> 00:26:00,124
Born in poverty in Colorado,
320
00:26:00,126 --> 00:26:04,628
dempsey has Irish, cherokee,
and Jewish ancestry.
321
00:26:04,630 --> 00:26:07,064
He's a strong offensive fighter,
322
00:26:07,066 --> 00:26:10,067
making it to the top
through skill and guts.
323
00:26:15,808 --> 00:26:20,010
His 1921 victory over
French boxer georges carpentier
324
00:26:20,012 --> 00:26:25,683
is the first
million-dollar match.
325
00:26:25,685 --> 00:26:28,218
It turns him
into a national star.
326
00:26:28,220 --> 00:26:30,321
Reporter: ...Of announcer
Joe humphries died away,
327
00:26:30,323 --> 00:26:32,289
the Argentinian and the champion
328
00:26:32,291 --> 00:26:36,694
stage the most savage slugfest
ever witnessed.
329
00:26:36,696 --> 00:26:40,331
Narrator: Dempsey doesn't
believe in defense.
330
00:26:40,333 --> 00:26:44,335
Relentless attack is his style.
331
00:26:44,337 --> 00:26:45,970
Reporter: Murderous rights.
332
00:26:45,972 --> 00:26:50,741
Threw a left hook,
crashed on firpo's body and jaw.
333
00:26:50,743 --> 00:26:53,844
Dempsey's pile-driving fists
battered him to the canvas
334
00:26:53,846 --> 00:26:55,112
time and again.
335
00:26:55,114 --> 00:26:57,781
Narrator: The public loves it,
and him.
336
00:26:57,783 --> 00:26:59,817
Reporter: He was up.
Down again...
337
00:26:59,819 --> 00:27:02,786
Narrator: In 1926
he fights gene tunney,
338
00:27:02,788 --> 00:27:08,092
a former U.S. marine
with 64 wins under his belt.
339
00:27:08,094 --> 00:27:12,396
Tunney shocks dempsey and
the nation with his victory.
340
00:27:14,199 --> 00:27:16,800
A year later in 1927,
341
00:27:16,802 --> 00:27:21,138
50 million Americans tune in
to the rematch in Chicago.
342
00:27:21,140 --> 00:27:24,942
This is the radio commentary
they heard.
343
00:27:24,944 --> 00:27:25,976
Announcer:
They're coming together.
344
00:27:25,978 --> 00:27:28,012
This is the seventh round.
345
00:27:28,014 --> 00:27:30,314
They're up.
346
00:27:30,316 --> 00:27:32,983
Dempsey came into tunney,
both of them shot both hands...
347
00:27:32,985 --> 00:27:36,854
Narrator: Dempsey is in
black shorts with a red trim.
348
00:27:36,856 --> 00:27:38,656
In the seventh round,
he floors tunney.
349
00:27:38,658 --> 00:27:41,091
Announcer: He lands a right.
Then dempsey comes back!
350
00:27:41,093 --> 00:27:45,929
And...Tunney is down!
Tunney is down!
351
00:27:45,931 --> 00:27:50,334
From a barrage of
lefts and rights to the face.
352
00:27:50,336 --> 00:27:52,336
Narrator: He's supposed to go
to a neutral corner
353
00:27:52,338 --> 00:27:56,340
before the 10-second count
can begin.
354
00:27:56,342 --> 00:28:01,045
But he doesn't move
for four crucial seconds.
355
00:28:01,047 --> 00:28:03,347
It buys tunney extra time.
356
00:28:03,349 --> 00:28:07,151
He's down for a full 13 seconds
before getting up.
357
00:28:07,153 --> 00:28:12,056
Announcer: A barrage of lefts
and rights to the face.
358
00:28:12,058 --> 00:28:14,224
Narrator: It becomes known
as the long count.
359
00:28:14,226 --> 00:28:16,026
Announcer:
Dempsey is on the other side.
360
00:28:16,028 --> 00:28:19,897
In eight, nine,
and tunney is up!
361
00:28:19,899 --> 00:28:23,400
And now they're at it again.
Tunney...
362
00:28:23,402 --> 00:28:27,271
Narrator: The fight continues,
and tunney wins on points,
363
00:28:27,273 --> 00:28:30,908
despite being down longer
than the allowed count of 10.
364
00:28:30,910 --> 00:28:35,245
Announcer: Over, it's all out,
and dempsey is practically...
365
00:28:35,247 --> 00:28:36,880
Narrator:
Ignoring a press storm,
366
00:28:36,882 --> 00:28:40,751
dempsey accepts the decision
gracefully.
367
00:28:40,753 --> 00:28:42,920
His attitude in defeat
is applauded
368
00:28:42,922 --> 00:28:44,722
and made famous by the radio.
369
00:28:44,724 --> 00:28:46,490
He retires at age 33
370
00:28:46,492 --> 00:28:50,360
a wealthy, popular symbol
of the American dream.
371
00:28:57,403 --> 00:28:59,436
World-beating sports stars,
372
00:28:59,438 --> 00:29:03,273
technological innovation
and a booming economy.
373
00:29:05,043 --> 00:29:09,513
By the mid-1920s the country
is brimming with confidence.
374
00:29:11,950 --> 00:29:15,486
But nature is about to deliver
a shattering blow
375
00:29:15,488 --> 00:29:18,489
to one its greatest
success stories.
376
00:29:27,398 --> 00:29:32,302
It's 1926, and Miami's economy
is soaring,
377
00:29:32,304 --> 00:29:35,873
fueled by northerners attracted
to its tropical climate
378
00:29:35,875 --> 00:29:38,142
and pristine beaches.
379
00:29:40,411 --> 00:29:42,913
Through the decade,
the population grows
380
00:29:42,915 --> 00:29:48,385
from 30,000 to over
100,000 residents.
381
00:29:48,387 --> 00:29:52,790
Its blue skies, crystal waters
and swaying palm trees
382
00:29:52,792 --> 00:29:56,026
make it the winter party
destination for the wealthy.
383
00:30:03,134 --> 00:30:07,337
On September 17th,
sun worshippers have no idea
384
00:30:07,339 --> 00:30:11,141
that a devastating hurricane
is sweeping their way.
385
00:30:14,445 --> 00:30:18,215
That night a 60-mile-wide
category 4 hurricane
386
00:30:18,217 --> 00:30:21,385
smashes into the city.
387
00:30:21,387 --> 00:30:28,458
Nearly 400 people are killed
and 43,000 left homeless.
388
00:30:28,860 --> 00:30:32,596
News cameraman Ralph earle
is trapped for six hours
389
00:30:32,598 --> 00:30:36,233
capturing these images
of Miami underwater.
390
00:30:40,306 --> 00:30:44,908
It is perhaps the earliest known
storm-chasing footage.
391
00:30:51,516 --> 00:30:55,519
Earle, on the left, flies
his shocking footage himself
392
00:30:55,521 --> 00:30:58,222
to be distributed to
the 20,000 movie theaters
393
00:30:58,224 --> 00:31:00,157
across the country.
394
00:31:13,305 --> 00:31:17,341
The rebuilding cost
reaches $109 million--
395
00:31:17,343 --> 00:31:20,277
$165 billion today...
396
00:31:23,248 --> 00:31:26,149
Worse even than
hurricane Katrina.
397
00:31:33,258 --> 00:31:37,327
The university of Miami
had just opened a year earlier
398
00:31:37,329 --> 00:31:42,399
and christened its teams
the hurricanes.
399
00:31:42,401 --> 00:31:46,370
As Miami rebuilds,
a thousand miles to the north,
400
00:31:46,372 --> 00:31:51,441
one man sets out to prove that
the nation's spirit is unbroken.
401
00:31:53,578 --> 00:31:58,048
This is 24-year-old
Charles Lindbergh in 1926,
402
00:31:58,050 --> 00:32:02,085
the aviator's earliest known
film footage.
403
00:32:02,087 --> 00:32:05,122
He's just a year out of
army flight training school
404
00:32:05,124 --> 00:32:07,324
and already dreaming
of making history.
405
00:32:13,933 --> 00:32:17,434
Lindbergh wants to win
a $25,000 prize
406
00:32:17,436 --> 00:32:23,307
for the first solo non-stop
flight from New York to Paris.
407
00:32:23,309 --> 00:32:26,476
At stake is the future
of air travel.
408
00:32:26,478 --> 00:32:31,114
Transatlantic ocean liners
are safe and reliable but slow.
409
00:32:31,116 --> 00:32:35,118
Planes are considered
too dangerous.
410
00:32:35,120 --> 00:32:36,720
Six pilots have already died
411
00:32:36,722 --> 00:32:39,456
attempting
the 3,600-mile crossing.
412
00:32:46,564 --> 00:32:50,567
Long island, may 20, 1927.
413
00:32:50,569 --> 00:32:53,503
Lindbergh readies
the spirit of St. Louis,
414
00:32:53,505 --> 00:32:56,506
his $10,000
custom-built monoplane.
415
00:33:11,223 --> 00:33:14,224
500 spectators have gathered
to see him off.
416
00:33:14,226 --> 00:33:16,660
On board, he's packed
five ham sandwiches
417
00:33:16,662 --> 00:33:18,362
to keep him going.
418
00:33:25,037 --> 00:33:28,605
At 7:52 A.M., he's off,
419
00:33:28,607 --> 00:33:31,108
and after a few bounces, aloft,
420
00:33:31,110 --> 00:33:34,444
just barely clearing
telephone lines.
421
00:33:37,048 --> 00:33:40,517
He will be in the air
for 33 and a half hours
422
00:33:40,519 --> 00:33:44,021
with no radio
and only a compass.
423
00:33:44,023 --> 00:33:47,190
The press dub him
"the flying fool."
424
00:33:51,230 --> 00:33:53,563
At 10:24 P.M. in Paris,
425
00:33:53,565 --> 00:33:57,467
tens of thousands witness
his triumphant night landing.
426
00:34:07,646 --> 00:34:12,049
Instantly the 25-year-old pilot,
now dubbed "lucky Lindy,"
427
00:34:12,051 --> 00:34:16,620
becomes the most famous
American in the world.
428
00:34:18,757 --> 00:34:21,558
President coolidge orders
the u.S.S. Memphis
429
00:34:21,560 --> 00:34:23,360
to bring him back to New York
in style.
430
00:34:42,581 --> 00:34:44,848
Four million people
line fifth Avenue
431
00:34:44,850 --> 00:34:47,451
for a ticker tape parade.
432
00:34:51,389 --> 00:34:56,693
He epitomizes the nation--
young, handsome, and brave.
433
00:34:56,695 --> 00:35:00,630
And his daring feat proves that
flight is the future of travel.
434
00:35:04,803 --> 00:35:08,105
Congress awards Lindbergh
the medal of honor,
435
00:35:08,107 --> 00:35:09,439
and the following year
he becomes
436
00:35:09,441 --> 00:35:12,709
time magazine's first-ever
man of the year.
437
00:35:22,721 --> 00:35:24,421
For three months
he tours the country,
438
00:35:24,423 --> 00:35:26,389
visiting every state.
439
00:35:26,391 --> 00:35:30,660
One in four Americans sees Lindy
on his guggenheim tour.
440
00:35:30,662 --> 00:35:34,364
The hinds family from
Portland, Maine, is among them.
441
00:35:36,567 --> 00:35:40,403
On July 24th they capture
Lindbergh's arrival in Portland
442
00:35:40,405 --> 00:35:42,239
in a home movie.
443
00:35:47,279 --> 00:35:49,179
The hinds have profited
from creating
444
00:35:49,181 --> 00:35:52,182
a successful
hand cream business.
445
00:35:52,184 --> 00:35:54,618
A new generation of women
wanting their product
446
00:35:54,620 --> 00:35:56,553
and the power of mass production
447
00:35:56,555 --> 00:35:59,890
has made them and others rich,
448
00:35:59,892 --> 00:36:02,592
and utterly transformed America.
449
00:36:13,672 --> 00:36:17,474
There are now 20 million cars
crowding into American cities.
450
00:36:21,246 --> 00:36:23,547
Accidents become common,
451
00:36:23,549 --> 00:36:26,616
as pedestrians have to learn
to watch out for cars,
452
00:36:26,618 --> 00:36:28,552
and vice versa.
453
00:36:28,554 --> 00:36:30,921
There's no such thing
as a driver's test.
454
00:36:36,662 --> 00:36:39,429
Faced with this new threat
to public safety,
455
00:36:39,431 --> 00:36:43,200
authorities turn to innovation,
like the traffic light,
456
00:36:43,202 --> 00:36:45,869
as seen here on New York's
fifth Avenue.
457
00:36:49,340 --> 00:36:51,908
Soon traffic cops and stop signs
458
00:36:51,910 --> 00:36:54,744
begin to appear
throughout the country.
459
00:36:58,449 --> 00:37:02,819
Still, fatalities increase
from 12,000 in 1920
460
00:37:02,821 --> 00:37:05,989
to over 30,000
by the end of the decade.
461
00:37:09,427 --> 00:37:12,529
Education campaigns try
to highlight the dangers
462
00:37:12,531 --> 00:37:15,232
by putting totaled cars
on display,
463
00:37:15,234 --> 00:37:17,834
some even shaming the drivers.
464
00:37:23,674 --> 00:37:25,275
In Portland, Maine,
465
00:37:25,277 --> 00:37:29,246
the hinds family shares
in the national tragedy.
466
00:37:32,851 --> 00:37:35,752
Their son William is seen here
in home movie footage
467
00:37:35,754 --> 00:37:38,922
at age five in 1924.
468
00:37:42,894 --> 00:37:46,329
A year later, a Ford model t
strikes and kills him
469
00:37:46,331 --> 00:37:48,298
on Vaughan street.
470
00:37:53,472 --> 00:37:55,005
He's the fourth boy in the area
471
00:37:55,007 --> 00:37:58,608
to be struck by a car
within 24 hours.
472
00:38:03,347 --> 00:38:08,285
But car culture isn't the only
trend shaping the country.
473
00:38:08,287 --> 00:38:10,787
A soaring economy
has construction
474
00:38:10,789 --> 00:38:13,990
reaching for the sky.
475
00:38:13,992 --> 00:38:18,328
In Manhattan, a series of
ambitious skyscrapers rise up,
476
00:38:18,330 --> 00:38:20,597
each competing
to claim the title
477
00:38:20,599 --> 00:38:23,466
of tallest in the world.
478
00:38:23,468 --> 00:38:26,369
The Chrysler building becomes
the first man-made structure
479
00:38:26,371 --> 00:38:28,672
to breach 1,000 feet.
480
00:38:31,776 --> 00:38:34,711
It's a leading example
of art deco architecture
481
00:38:34,713 --> 00:38:37,480
that remains iconic to this day.
482
00:38:39,650 --> 00:38:42,519
This is rare footage
of its famous eagles
483
00:38:42,521 --> 00:38:46,790
being installed
on the 61st floor.
484
00:38:46,792 --> 00:38:51,361
Like the statue of Liberty,
they're thinner than they seem.
485
00:38:59,070 --> 00:39:00,970
The working men
who construct the buildings,
486
00:39:00,972 --> 00:39:04,974
known as roughnecks,
are a special breed.
487
00:39:04,976 --> 00:39:08,511
Man: Ok, let the eagle scream.
488
00:39:08,513 --> 00:39:10,113
Pretty high up there.
489
00:39:10,115 --> 00:39:11,881
Narrator: They work
without harnesses,
490
00:39:11,883 --> 00:39:14,117
safety ropes or hard hats,
491
00:39:14,119 --> 00:39:16,820
spending eight-hour shifts
in the clouds
492
00:39:16,822 --> 00:39:19,422
with no bathroom breaks.
493
00:39:22,927 --> 00:39:27,097
Workers fling red-hot rivets
by hand through the air.
494
00:39:34,739 --> 00:39:37,907
These jobs are so dangerous
that two out of five
495
00:39:37,909 --> 00:39:41,411
fall to their deaths
or end up disabled.
496
00:39:44,148 --> 00:39:46,750
Across town on 34th street,
497
00:39:46,752 --> 00:39:48,418
construction begins
498
00:39:48,420 --> 00:39:51,621
on an enormous
102-floor office building,
499
00:39:51,623 --> 00:39:55,759
intended to be a symbol of
New York's wealth and power.
500
00:39:58,396 --> 00:40:00,830
Former New York governor
al Smith
501
00:40:00,832 --> 00:40:03,466
actively promotes
the construction.
502
00:40:03,468 --> 00:40:06,770
Al Smith: As fast as human
ingenuity, brains and ability
503
00:40:06,772 --> 00:40:08,605
can bring it about,
504
00:40:08,607 --> 00:40:12,776
there will tower on this corner
the empire state, incorporated,
505
00:40:12,778 --> 00:40:16,479
the largest office building
in the world.
506
00:40:16,481 --> 00:40:19,649
Narrator: But the boom is
a bubble about to burst.
507
00:40:27,525 --> 00:40:30,894
Nearly 80% of goods
are bought on credit,
508
00:40:30,896 --> 00:40:35,198
and most Americans
have no savings at all.
509
00:40:35,200 --> 00:40:39,068
Consumers are stretching
themselves thin.
510
00:40:39,070 --> 00:40:41,104
And with a runaway bull market,
511
00:40:41,106 --> 00:40:45,542
few realize
what's about to come.
512
00:40:45,544 --> 00:40:49,078
The skyscrapers crown
a hollow economy
513
00:40:49,080 --> 00:40:52,949
that is about to spin
dangerously out of control.
514
00:41:00,225 --> 00:41:06,830
In 1927, much of America
looks like smooth sailing.
515
00:41:06,832 --> 00:41:08,698
Like the mighty Mississippi,
516
00:41:08,700 --> 00:41:14,504
the country seems to be flowing
toward a prosperous future.
517
00:41:14,506 --> 00:41:17,507
For generations, Americans
have built their livelihoods
518
00:41:17,509 --> 00:41:20,210
along their longest river,
519
00:41:20,212 --> 00:41:22,712
stretching more than 2,300 miles
520
00:41:22,714 --> 00:41:27,951
from northern Minnesota
to the Gulf of Mexico.
521
00:41:27,953 --> 00:41:33,122
The river offers jobs, food,
and a distinctive way of life,
522
00:41:33,124 --> 00:41:35,825
all protected by
a system of levees
523
00:41:35,827 --> 00:41:39,596
that aim to control
the river's flow.
524
00:41:39,598 --> 00:41:44,501
But nature is about to show the
limits of human intervention.
525
00:41:44,503 --> 00:41:46,636
Eight months of extreme rainfall
526
00:41:46,638 --> 00:41:50,540
swell the river
to unprecedented levels.
527
00:41:50,542 --> 00:41:55,111
Then, on April 21st, the waters
burst through the levees.
528
00:41:57,548 --> 00:42:02,085
The devastation is staggering.
529
00:42:02,087 --> 00:42:04,521
An area the size of new england,
530
00:42:04,523 --> 00:42:09,125
over 70,000 square miles,
is underwater.
531
00:42:09,127 --> 00:42:13,129
A thousand are dead--
mostly black families.
532
00:42:13,131 --> 00:42:15,798
700,000 are homeless,
533
00:42:15,800 --> 00:42:20,670
and there are more than
$1 billion in damages.
534
00:42:20,672 --> 00:42:23,072
This is the U.S. army
signal corps footage
535
00:42:23,074 --> 00:42:25,308
of the aftermath.
536
00:42:28,012 --> 00:42:30,914
In all, 10 states are affected,
537
00:42:30,916 --> 00:42:33,616
with a fifth of Arkansas
underwater.
538
00:42:40,991 --> 00:42:43,660
Nevertheless,
president coolidge refuses
539
00:42:43,662 --> 00:42:47,163
to commit federal money to help.
540
00:42:47,165 --> 00:42:48,898
He believes disaster relief
541
00:42:48,900 --> 00:42:51,868
is the job of charities
and private business,
542
00:42:51,870 --> 00:42:53,670
not government.
543
00:42:59,177 --> 00:43:03,046
Temporary camps are set up
in the disaster zone.
544
00:43:06,717 --> 00:43:08,952
But many opt to migrate north
545
00:43:08,954 --> 00:43:11,754
rather than to stay
and try to rebuild.
546
00:43:15,292 --> 00:43:18,828
The great Mississippi flood
serves as a warning
547
00:43:18,830 --> 00:43:21,864
of how fast fortunes can change.
548
00:43:27,372 --> 00:43:29,105
But for much of the country,
549
00:43:29,107 --> 00:43:32,141
the good times
keep rolling along.
550
00:43:33,677 --> 00:43:35,812
Wall street is booming.
551
00:43:48,093 --> 00:43:49,826
Trading volumes are so high
552
00:43:49,828 --> 00:43:52,829
that in 1928
the New York stock exchange
553
00:43:52,831 --> 00:43:57,166
introduces tickers that can
print 500 characters a minute--
554
00:43:57,168 --> 00:44:00,203
twice as fast as before.
555
00:44:00,205 --> 00:44:03,940
Millions of investors are out
to get rich quick,
556
00:44:03,942 --> 00:44:07,677
often by borrowing money
and buying on margin.
557
00:44:07,679 --> 00:44:13,683
For the first time, Americans
can buy now and pay later.
558
00:44:13,685 --> 00:44:16,319
But the market gains
are driven by optimism,
559
00:44:16,321 --> 00:44:19,155
not on the strength
of the companies.
560
00:44:21,158 --> 00:44:22,825
Few worry.
561
00:44:22,827 --> 00:44:24,227
As long as there are buyers,
562
00:44:24,229 --> 00:44:28,898
it seems like a license
to print money.
563
00:44:28,900 --> 00:44:35,438
By September 1929, the dow Jones
has tripled since 1924.
564
00:44:35,440 --> 00:44:39,008
It seems like the bull market
will last forever.
565
00:44:44,716 --> 00:44:46,449
What most investors don't know
566
00:44:46,451 --> 00:44:50,253
is there are too many
goods to sell.
567
00:44:50,255 --> 00:44:53,356
Total car sales
have dropped 30%.
568
00:44:53,358 --> 00:44:57,927
In Detroit, unsold cars
pile up in scrap yards.
569
00:45:09,774 --> 00:45:11,274
At the sound of the opening bell
570
00:45:11,276 --> 00:45:15,178
on Thursday,
October the 24th, 1929,
571
00:45:15,180 --> 00:45:20,116
there are no buyers,
only sellers.
572
00:45:20,118 --> 00:45:24,053
The market falls by 11%.
573
00:45:24,055 --> 00:45:29,025
In two hours $9 billion is lost.
574
00:45:29,027 --> 00:45:31,060
Terrified banks recall payment
575
00:45:31,062 --> 00:45:33,396
from traders who have
borrowed money.
576
00:45:37,368 --> 00:45:42,939
Most can't pay,
leaving the banks in crisis.
577
00:45:44,309 --> 00:45:46,075
On Tuesday the 29th,
578
00:45:46,077 --> 00:45:50,279
the New York stock exchange
goes into a total spiral.
579
00:45:50,281 --> 00:45:53,983
Brokers beg to sell
at any price.
580
00:45:53,985 --> 00:45:58,454
It comes to be known
as black Tuesday.
581
00:45:58,456 --> 00:46:03,826
$25 billion evaporate
almost overnight.
582
00:46:03,828 --> 00:46:07,363
This isn't just about
wall street.
583
00:46:07,365 --> 00:46:11,334
Banks will shut down
all across the country.
584
00:46:11,336 --> 00:46:17,006
$140 billion in savings
will disappear.
585
00:46:17,008 --> 00:46:20,276
Ordinary people are ruined.
586
00:46:22,913 --> 00:46:26,282
Assistant secretary of commerce
Julius klein
587
00:46:26,284 --> 00:46:30,820
reaches out through radio
to restore calm.
588
00:46:30,822 --> 00:46:34,390
Julius klein:
And regardless of regrettable
stock market gyrations,
589
00:46:34,392 --> 00:46:39,128
the position of commerce and
industry throughout the country
590
00:46:39,130 --> 00:46:42,431
is fundamentally sound.
591
00:46:42,433 --> 00:46:44,200
Narrator: He's wrong.
592
00:46:44,202 --> 00:46:46,135
After the roaring '20s,
593
00:46:46,137 --> 00:46:48,571
Americans will come to know
their next chapter
594
00:46:48,573 --> 00:46:50,506
as the great depression.
595
00:46:56,114 --> 00:46:58,848
It's a defining time
for a young nation,
596
00:46:58,850 --> 00:47:01,017
and she will revive,
597
00:47:01,019 --> 00:47:03,452
but the future will not be easy.
598
00:47:09,260 --> 00:47:11,360
When the giant
empire state building opens
599
00:47:11,362 --> 00:47:14,897
the following year,
it has few tenants.
600
00:47:14,899 --> 00:47:18,100
Smith: We are about to
officially open
601
00:47:18,102 --> 00:47:20,269
the empire state building,
602
00:47:20,271 --> 00:47:25,208
the largest and most beautiful
office building in the world.
603
00:47:25,210 --> 00:47:27,510
Narrator: It stands lifeless,
604
00:47:27,512 --> 00:47:32,481
mocked as
the empty state building.
605
00:47:32,483 --> 00:47:36,352
It will take two full decades,
until 1950,
606
00:47:36,354 --> 00:47:38,154
before it turns a profit.
607
00:47:48,632 --> 00:47:50,967
America's 10-year party
608
00:47:50,969 --> 00:47:53,402
has led to a hangover
affecting millions.
609
00:47:58,242 --> 00:48:02,345
It's the greatest
boom to bust in history.
48570
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