The Roaring Twenties

The end of World War I saw the United States retreat into isolation. The Senate refused to ratify the Versailles Peace Treaty that ended World War I. The U.S. failed to join the League of Nations--the international organization that was the less-successful interwar predecessor of the United Nations. The U.S. raised tariffs early in the 1920s (although not to levels that appreciably discouraged imports). Most important, perhaps, the 1920s saw the end of …

…Hollywood's superstars. Prohibition. In 1918, Prohibition had been introduced into America. This law banned the sale, transportation and manufacture of alcohol. However, there was a ready market for alcohol throughout the 1920's and the gangsters provided it. Capone's earnings at their peak stood at $60 million a year from alcohol sales alone with $45 million from other illegal ventures. Notorious in Chicago, Capone achieved national celebrity status when he appeared on the front of the celebrated "Time" magazine.