12-4 to 12-8 Flashcards
mass production
Process of making large quantities of a product quickly and cheaply.
installment buying
A consumers buys products by promising to pay small, regular amounts over a period of time.
buying on margin
The purchasing of stocks by paying only a small percentage of the price and borrowing the rest.
Teapot Dome Scandal
Scandal during the Harding administration involving the granting of oil-drilling rights on government land in return for money.
Warren G. Harding
President who called for a “Return to normalcy” following WWI. He believed in laissez-faire economics, cutting taxes and government regulation. He administration was corrupt and he died in 1923.
Calvin Coolidge
Became president when Harding died. He wanted to restore American’s faith in government after the corruption of the Harding administration and acquired the name “Silent Cal” for being so soft-spoken. He believed in the government supporting big business.
Kellogg-Briand Pact (1928)
A multi-nation treaty, sponsored by American and French leaders that outlawed war.
Scopes Trial
1925 court case in which Clarence Darrow and William Jennings Bryan debated the issue of teaching evolution in public schools. John Scopes was found guilty, lost his job and had to pay a $100 fine. This was also called “The Monkey Trial.”
quota system
An arrangement placing a limit on the number of immigrants from each country.
Prohibition
A total ban on the sale and consumption of alcohol that was created with the 18th Amendment from 1920-1933. Bootlegging and speakeasies occurred at this time. Organized crime increased and the law was repealed with the 21st Amendment.
Palmer Raids
A 1920 operation coordinated by Attorney General Mitchel Palmer in which federal marshals raided the homes of suspected radicals and the headquarters of radical organization.
Red Scare
Intense fear of communism and other politically radical ideas after World War One.
Sacco and Vanzetti
Italian radicals who became symbols of the Red Scare of the 1920’s. They were arrested (1920), tried and executed (1927) for a robbery/murder. They were believed by many to have been innocent but convicted because of their immigrant status and radical political beliefs.
Flappers
Young women in the 1920s who challenged social traditions with their dress and behavior.
“Lost Generation”
Group of writers in 1920s who shared the belief that they were lost in a greedy, materialistic world that lacked moral values and often choose to flee to Europe.
Jazz Age
Name for the 1920s, because of the popularity of jazz, a new type of American music that combined African rhythms, blues, and ragtime.
Harlem Renaissance
A period in the 1920s when African-American achievements in art and music and literature flourished.
