The forefather is paddling or beating the 1920s generation because the 1920s generation is having the attitude of discontentment although he has everything the world can offer. He was tempted by the material things but then still unsatisfied with what he has. The forefather just wanted the 1920s generation to be like him most likely thrifty, economical, and prudent.
The American federation labor is a national federation labor and it represented skilled workers in craft unions and became an organization of mostly white men.