In what is often considered the most controversial decade in American history, the Roaring Twenties were marked by a society drunk on its own success . The United States was a thriving economy, the stock market was booming, and the New York Stock Exchange was in the middle of it all. The American people were riding the money train, and then, without getting tired of it, the world was turned upside down. The prodigious New York Exchange collapsed and led to staggering final losses across the country. The United States had just emerged from a recession of 1921-1922, and this marked the beginning of a period of economic expansion and prosperity for the United States. The economic boom began with many different events, but the most important event was the improvement in technology. The automobile began to explode with new assembly lines and other inventions. During this period, it became the most important industry. It caused other industries to boom as well, due to the need for materials to make automobiles. The industries needed to make the automobile included steel, rubber, glass, tools, oil companies, and road construction. The need for these materials caused them to explode because the automobile industry was producing many cars at that time. The rise of the automobile industry allowed for an increase in suburban housing, fueling, and an increase in the construction industry. “Electronics, appliances, plastics and synthetic fibers, aluminum, magnesium, petroleum, electric power and other industries fueled by technological advances, have all experienced spectacular growth” (citethisshit ). One in six Americans owned a telephone in the late 1930s, and there were about 25 million in the United States. "...... middle of paper ...... set a quota on the number of immigrants who could enter the United States from any country at one time. The quota "could not exceed three percent of persons of that nationality who were in the United States in 1910" (lkdfjlj), which reduced the number of immigrants arriving in the United States from 800,000 to 300,000 each year. East Asians are completely barred from immigrating to the United States due to the 1924 National Origins Act, which reduced the quota for Europeans from three to two percent. This quota was not taken into account during the 1910 census; it was taken from the 1890 census. The government played a major role in immigration, and five years later greater restriction reduced immigration to 150,000 immigrants per year. In 1914, a new Ku Klux Klan was formed. These Klansmen were more interested in Catholics, Jews, and foreigners after World War I..