Background information Flashcards
1
Q
Hire purchase and loans
A
> pre WW1 borrowing was a last resort
2
Q
What did higher purchase become
A
> the practical way to buy
3
Q
What were banks doing in the 1920s
A
The banks were more willing to lend
4
Q
What happened between 1920 - 1929
A
Consumer debt rose from $3.3 billion to $7.6 billion
