American People + ‘Boom’ Flashcards
What is the stock market?
But shares of companies and be given some of the profits
What is hire purchase?
Buy goods now and pay later through loans in banks which were poorly regulated
What is rugged individualism?
Hoover’s belief that Americans should work hard and not rely on gov help
What were tariff’s?
Taxes on foreign goods so only American goods were bought
How much did Ford pay his workers?
Nearly 3 times the wages paid to others (skilled workers)
By the end of the 1920s how many were employed in the US motor industry?
500,000
How many owned cars + bought with loans?
-1 in 5 owned a car, with 1 in 2 owning a ford
-6 out of 10 cars bought with loans
Why were Ford’s model T’s built so fast?
•assembly line (£850 to £300)
•1 made in 1h and 10 mins
•all black: no time wasted changing colours
•standardisation: all same engine, design and colour
What were the negatives to the car industry? (Ford)
•traffic jams
•road accidents
•pollution
•Ford employed hard men to threaten workers from joining trade union and going on strikes
What were sharecroppers?
Farmer rented small land and gave crops in return to landowner
What problems were farmers dealing with?
•overproduction
•combine harvest or did job of 10 men so lost jobs
•tariffs on goods from foreign countries
•couldn’t pay back loans
What problems were African Americans dealing with in 1920s?
•1 mill lost jobs
•given lowest paid jobs with segregation
•mostly sharecroppers
What inequality in wealth was there?
5% wealthy owned 33% of economy while 42% lived in poverty
Sports like I’m the roaring 20s?
•many travelled to stadiums e.g Ohio stadium with capacity of 60,000 and low priced
•golden age for American sport
Cinema like in roaring 20s?
-In 1919 35 million visitors a week and by 1930 100 million
-warners theatre in California opened in 1924 showing 1st talkie
Hollywood in the roaring 20s?
•by 1929 making over 500 films a year
•’star system’ e.g sex symbols through photo shoots, radio interviews, adverts