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USA > Boom of the 1920s? > Flashcards

Boom of the 1920s? Flashcards

1
Q

Unemployment 1921

A

5million

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2
Q

Unemployment 1926

A

2million

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3
Q

What did unemployment never rise above 1920-29?

A

3.7%

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4
Q

Real terms average wage increase during 1920s

A

14%

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5
Q

$ spent by consumers in 1914

A

$4billion

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6
Q

$ spent by consumers in 1920s on average annually

A

$7billion

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7
Q

Number of millionaires in USA 1914

A

7,000

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8
Q

Number of millionaires in USA 1928

A

35,000

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9
Q

GNP in 1914, 1920 and 1929

A

1920 : $73bn

1929: $104bn

1932 : $59bn

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10
Q

Which industry was notorious for exploitation of child labour?

A

Textile industry

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11
Q

What did inflation never rise higher than 1922-29?

A

1%

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12
Q

What happened to average working hours during 1920s?

A

decreased

44 in 1929
47 in 1920

= gave americans more leisure time w more $ to spend

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13
Q

What happened to union membership during the 1920s

A

declined

1920: 4million
1929: 3million

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14
Q

What X2 notorious skyscrapers demonstrate prosperity build in 1920s

A

Empire State Building & Rockefeller centre

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15
Q

What did the Brookings Institute find in terms of inequalities?

A

60% living on annual incomes below $2000

0.1% of families at the top receive same income as 42% at the bottom

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16
Q

Evidence that employment was unstable

A

During 1st half of 1924 - 72% of workers unemployed at some point

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17
Q

Why did those who were not employed in the 1920s struggle?

A

no social welfare / unemployment benefit from laissez faire government

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18
Q

What did the number of women in education drop by in the 1920s

A

5%

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19
Q

how many domestic servants (women) in the 1920s?

A

70,000

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20
Q

How many female accountants in the entire US during the 1920s?

A

only around 100

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21
Q

How many of those in the House of Representatives were women in 1928?

A

2/435 in 1928

22
Q

What act which benefitted women was introduced in 1921 gave healthcare to pregnant women which went against their laissez faire government?

A

Shepard-Towner Act 1921

23
Q

What did prohibition do to grain demand?

A

reduced demand

24
Q

What did prosperity do to grain demand?

A

higher living standards = more can afford a meat based diet, so grain demand decreased

25
Q

When did the wartime cotton boom collapse?

A

1920

26
Q

What was one of the causes for the cotton boom collapse?

A

rise of synthetic fibres e.g rayon

27
Q

What did the textile cotton workforce shrink by 1923-33?

A

90,000

28
Q

What was a large hinderance to European countries in repaying their debts?

A

Prohibitive tariffs meaning they couldn’t enter US market to export their goods

29
Q

When was the Debt Funding Commission formed?

A

1922

30
Q

What did the Debt Funding Commission allow for?

A

agreement w britain to pay $4600mil debt within 62years at lower interest rate

31
Q

What X2 plans did USA agree with Germany to lend money to pay for reparations?

A

Dawes (1924) and Young (1929)

32
Q

In the 1920’s what was the rate of business failure?

A

3/4 of businesses fail

33
Q

What happened to the number of vehicle companies 1920-30?

A

fell from around 110 to 44

also due to mergers / monopolies

34
Q

What % are estimated to be living close to subsistence in 1929?

A

80%

35
Q

Hoover’s quote on the 1920s

A

“we have in the 1920s decrease the fear of poverty, fear of unemployment…”

36
Q

In 1926 how many shares were traded?

A

450million

37
Q

In 1927 how many shares were traded?

A

577million

38
Q

In 1929 how many shares were sold?

A

1.1billion

39
Q

What was the average gain of common stocks in the 1920s?

A

16.5%

40
Q

Scann’s opinion on speculation;

A

“…wasn’t gambling - it was an investment in the glorious American future”

41
Q

why would confidence in the stock market disappear and the bubble burst?

A

realisation that actual value doesn’t meet share value

42
Q

1919-21 value of farm products falls from X to Y

A

falls from $10billion to $4billion

43
Q

By what fraction did corn prices fall from their wartime high?

A

1/3

44
Q

What did the value of farmland decrease by during 1920-29?

A

Fell by 30%

45
Q

What act came into place that prevented manipulation of the grain market?

A

Grain Futures Trading Act

46
Q

When did the Grain Futures Trading Act come into place?

A

1921

47
Q

When did the Capper-Volstead Act come into place?

A

1922

48
Q

What did the Capper-Volstead Act do?

A

farmers work together in cooperatives to facilitate production / marketing of agricultural products

49
Q

When was the Intermediate Credit Act introduced?

A

1923

50
Q

What was the Intermediate Credit Act?

A

established a credit system to provide agricultural loans to farmers on easier terms

51
Q

When did Coolidge veto the McNary-Haugen bill?

A

1927

USA (33 decks)

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