Halfway through reading Amity Shlaes book “Coolidge”. Very detailed and good reference for what the country was politically/economically facing at the time. Here are some economic factors from Calvin Coolidge time period:
Debt after WWI was $27 Billion. Nine times higher than 2 years before.
College professor salaries in 1890 were $2,500. This was 20 times more then tuition. Average American wage earner made $425/year.
1905, home in Massachusetts cost between $2,000-$5,000. Banks did not do mortgages. Building associations did.
1915 IRS employed 4700 people
1920 federal budget was $6.3 Billion and Calvin Coolidge Vice Presidential salary was $12,000.
From 1920 – 1921 Ford Motor Company sold 1.25 million cars.