The PSFS building: Construction in the Midst of Depression
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During the aftermath of World War I great change was happening to America’s society. Of the nations that were involved in the worldwide conflict from 1914 to 1918 no other nation experienced prosperity socially, politically, and economically as quickly as did the United States of America. The middle-class American suddenly became the most important component to the growth of the American economy. As the purchase of luxuries, the automobile in particular, became more available to middle-class, opportunity in the housing and labor industries expanded.
World War I had placed great strains on the economies of the most European nations that were involved in the conflict. With trade agreements with countries like Britain, France and United Kingdom America’s economy flourished, as they forced these countries to accept goods in exchange for debt. The economy of America soared to new heights. America’s abundant natural resources and technological advances were used to become leaders in manufactured exports. (Encl) Usually the general public would opposed big business owners to partner with government, but as the lifestyles of many Americans elevated these relationships were accepted. By the end of the decade, 1910 to 1919, annual incomes rose from $580 to $1300 setting the stage for the “crazy years” known as the “Roaring Twenties”.
As WWI ended and America transitioned from wartime mindset to peacetime lifestyle the economy of the nation had placed the United States as the world’s superpower. As all of the fighting occurred on foreign soil there was no added expense to rebuild infrastructure of the nation as other countries were required. Instead of rebuilding roads, buildings, hospitals, schools from new designs America could...
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...the customer had completed their bank transaction they could return to the ground level and enjoy a moment of shopping at the various retail shops that were housed in the dedicated retail spaces directly below the main banking floor.
Encl. "World War I and the Economy." January 2001. Encyclopedia.com. Electoronic. 24 October 2013. .
James F. O'Gorman, Dennis E. McGrath. ABC of Architecture. Philadelphia: University of Pennsylvania Press, 1998. Document. October 2013.
Jordy, William H. "PSFS: Its Development, and Its Significance in Modern Architecture". Journal of the Society of Architectural Historians, 1962. Print. 14 October 2013.
Schumpter, Joseph A. "The Decade of the Twenties." The American Economic Review 36.2 (1946): 4. Document. 24 October 2013. .