1920's Flashcards
1920’s (ROARING 20’s)
BACKGROUND INFORMATION
Era of change
WWI created demand for products, that’s why their was overproduction because their was a lot of demand, economy was doing well. —> agriculture recession.
BIG PLOW UP
Overproduction (millions of acres are used for production) —> less demand —> prices decreased —> By 1920’s, agricultural recession.
1920’s CHANGES
Traditional role of women changed. —> concept of new women emerged b/c they were seeking career, income, smoking/drinking
—> DEPLETED MORAL INFLUENCE THEY ONCE HAD (flappers)
1920’s CHANGES IN SOCIETY AND CULTURAL
Society and cultural are changing (people were moving to the city lifestyle as opposed to the agricultural life).
1920’s CHANGES ECONOMY
Economy = booming economy b/c of great consumerism —> leads to growing consumer debt.
RESPONSE TO 1920’s CHANGES
Creates more fear among society.
GREAT DEPRESSION AND NEW DEAL
G.D. affected both the U.S. and other nations, b/c U.S. had powerful influence globally.
SYMPTOMS OF GREAT DEPRESSION: STOCK MARKET CRASH
Created a panic that accelerated G.D. Consumer Debt, Speculation, loss of confidence contributed to G. D. People invested less in stock market. Over 50% of ppl were invested in stock market.
SYMPTOMS OF GREAT DEPRESSION: BLACK TUESDAY
Consumer debt increased ($3 –> 7 million) –> lose confidence in economy
–> stop consuming –> deflation occurs in the economy.
SYMPTOMS OF GREAT DEPRESSION: BANK FAILURES
Result
Around 3,000 bank failed during that time.
• when backs fail, people withdraw money from banks. Many peoples’ money is gone after bank failures.
SYMPTOMS OF GREAT DEPRESSION: BANK FAILURES
Cause
• Banks failed due to STRUCTURAL WEAKNESSES from raising tariffs/taxes and reinforcing gold standard, which creates deflation.
DUST BOWL
Growing economic disaster.
• overproduction ruined soil –> soil became dry and caused dust bowl.
GRAPES OF WRATH
- O.K. family was displaced b/c of dust bowl, they moved to city area for job opportunities, but competition was heavy in job opportunities.
- agricultural jobs are done by immigrant/migrant workers.
- Immigrants are feared
FEAR OF IMMIGRANTS LEAD TO
Maintain status quo of white supremacy.
1924 IMMIGRATION ACTS
(Racist act) proposed to not make any changes in race in the U.S., but no restriction is placed on Mexican immigration, who needed for labor.
