5.1: USA 1920s: the roaring twenties Flashcards
Boom and bust, pride and prejudice
-causes and consequences
Resources and transport, republican policies WW1, cars, new industries and methods, mass consumption, wall street and stock market, state of mind
the boom causes: Resources
Rich in resources
Rockefeller: standard oil (replaced coal), raise in cars=raise in oil, separate companies into 1
Carnegie: steel, more cars & skyscrapers…
Mellon: banker, good eye for successful businesses like electricity and aluminium
the boom causes: Republican Policies
Laissez Faire: government should leave strong independent businessmen alone
Protective Tariffs: discouraged citizens to buy from foreign businesses
Low Taxation: helped poor and encourage wealthy to invest in industries
Powerful Trusts: Wilson and democrats fought against it-people like Andrew Carnegie (steel) had too much control
the boom causes: WW1
Supplied weapon, loaned money
Joined in 1917
162000 commercial flights operating a year by 1930
Took over production of chemicals from Germany
the boom causes: Cars
Production was revolutionised by Henry Ford who set up 1st production line in Detroit
Over 7 million vehicles registered in 1922
For convenience and leisure
Other industries: oil, plutonium, steel, glass, rubber, leather, jobs, roads, traffic lights…
the boom causes: New industries and methods
Efficiency Movement introduced by F. Taylor: cut wastes of time & money
More people used electricity: bought more telephones, radios, vacuums, washing machines
Things were cheaper. E.g: 1900: 12000 silk stockings sold, 1930: 300 million were sold!
the boom causes: Mass consumption
Mass producing required mass consumption
Mass national advertising: propaganda from war turned into posters and radio adverts
Mail order: people in remote areas bought from catalogues (convenient)
Credit: ‘buy now, pay later’, 8/10 radios
Chain stores: same shops selling same products all over USA
the boom causes: State of Mind
People trusted businessmen over politicians, Ford was very popular
Believed in their right to prosperity, followed trends, wanted to spend money
Confidence in everyone from businessman to consumer
the boom causes: Wall street and stock market
People invested in shares which helped people to set up businesses
Share owners rose to 20 million by 1929
Stock market supported business and business supported stock market
-Industries and social groups that experienced the boom
entertainment and leisure, old attitudes changed, cars, city life
the boom: Entertainment and leisure
Radio: NBC network made $150 million a year by 1929
Cinema: affordable (10-20 cents), Charlie Chaplin and ‘talkies’
Music: jazz, dancing, drinking, partying…
the boom: Old attitudes changed
Liberation for women: flappers, drinking, smoking, short dresses
Sex more widely talked about: newspapers, magazines, movies, radios…
the boom: City life
Skyscrapers
Epic feats like Charles Lindberg crossing the Atlantic by aeroplane
More people lived in towns and cities than ever before (over 50%)
-Industries and social groups that didn’t experience the boom
farming traditional industries, unemployed and the poor
the boom: farming
In 9 years, total income dropped from $22 billion to $13 billion
Declining exports, new competitors, overproduction, falling prices
Congress considered being tariffs but Republicans were unsympathetic so plan was dropped
the boom: traditional industries
Cotton, coal, leather replaced by electricity and oil
Skilled workers couldn’t compete with machines
Strikes happened for better pay and working conditions
Republicans protected these to an extent, but businessmen were hostile