Background Flashcards
what happened in the 20s
1920s: economic boom (mass production > more jobs; greater
investment; higher bank deposits; more banks)
What did the 20s cause
Credit boom: more loans; businesses borrowed to expand
What did stock markets do
Stock market seen as a solid investment: banks could buy stocks
for themselves; banks lent money to investors to buy stocks;
prices continue to rise; ‘buying on the margin’ meant paying for
a proportion, borrowing the rest; repayments made from profits
when sold IF at a profit so selling necessary to repay the loans
What happened in the late 20s
Fall in purchase of products> disappointing profits and falling
share prices
What happened to the stocks
share prices
• Loans on margins called in; people unable to pay; stocks
plummeted becoming worthless
Why did the bank collapse
Massive run on banks to pull money out- seen as risky; some
banks unable to satisfy calls for money; lending grinds to a halt;
people lose money; banks collapse
What did Roosevelt say in 1933
• Franklin D Roosevelt (1933-45): “Let me assert my
firm belief that the only thing we have to fear is fear
itself “
What did Rosevelt end
• Ended prohibition
•
What was the new deal rosevelt made
New Deal economic regeneration programme
•
What did the new deal rosevelt made entail
Tennessee Valley Authority Act: built dams along
the Tennessee river to control flooding and
generate hydroelectric power
•Commodity farmers paid to leave fields fallow to
reduce surpluses in corn, wheat, dairy, tobacco…
and boost prices
What was the National Industrial recovery act
• National Industrial Recovery Act: Workers’ rights to
unionise and seek higher wages and better working
conditions
What did new technology cause
more production and ability to supply, but not an equal demand so prices fell and farmer income drops •
What did drought cause
great Dust Bowls: topsoil scattered by wind; sand and grit exposed; dust travelled for hundreds of miles
What was the american dream
Westward movement historically
associated with success, adventure,
pioneering spirit, frontier making; values
pertinent to the American Dream
What was California seen as
Gold rushes
• Land of ‘milk and honey’
What did the dust bowl cause
Migration from Dust Bowls to seek fertile
land and space; hunger for land
•
How did Californians respond to migration
Many driven away by Californians and
lived in refugee camps
•
What does soledad translate to
soledad translates to ‘solitude’
what was existence like for workers?
Transient existence due to employment migration
Many could not afford fares: hitched lifts/stole rides on trains/walked; came to be known as hobos
Leisure: drinking, magazines, visiting brothels, fighting…
what did the nature of employment cause/encourage?
Competitive nature of employment market encouraged ruthlessness
what did ranches foster, why?
Nature of ranches and migrant labour fostered loneliness;
individualism was expected; impeded bonds, yet also restricted privacy
what did workers strive for? what was stopping them?
Low wages prevented self-improvement
Desperate desire for autonomy and self-governance (key to the American Dream)
Leisure: drinking, magazines, visiting brothels, fighting…
what was ranch life indicated by?
Ranch life as indicated by the possessions of the workers and environment of the bunk-house:
what were the standard of living like for workers?
not great, Close sleeping quarters; confinement; lack of privacy
Lack of possessions; bare necessities; lack of comforts
severe; austere; unhygienic
what was lesiure like for workers?
Limited leisure opportunities: reading; drinking; visit brothels; fighting; games like pool, cards, horseshoes
what was the environment like for workers
Competitive environment
Suspicious environment especially towards companionship
Isolating
what did workers keep retention onto?
aspirations/dreams
what were the social division composed of?
Social divisions based on roles, race, sex
what was the average worker like?
solitary usually; they are exceptional in their companionship
Desperation for employment
what was their economic status like?
Low economic means: hand-to-mouth existence
what was the constant pressure for workers?
Constant pressure to refamiliarise and prove self
what was residence like for these workers?
Lack of permanent residence; displacement; transience
Difficulties establishing bonds
