Chapter 1-The Boom Flashcards
How was America formed?
When british people settled in America, they established 14 different colonies in America’s coast. The settlers were mainly farmers which grew crops.
Overtime the british started to see themselves as amarican and were tired of the british control and taxes. However the 13 colonies declared for independence, he british declared the colonists to stay loyal to Britain. However America won their independence and the Americans joined the 13 colonies (states) which from the USA.
Who was the first president?
George Washington
What were the 2 types of government?
Federal government: focused on matters affecting the whole country
State government: focused on matters that affected individual states
What were the 2 parties called?
Republican: believed in laissez faire, they stayed out of peoples lives so didn’t focus on the poor and focused more on the rich, so they were mainly supported by northern americans where there were more industries and wealth (they were conservative)
Democrats: favoured elderly and poor people, seen as liberal (prepared to change things), they had support from southern states
What was the bill of rights?
Concentrated on the freedom of people EG freedom of beliefs, freedom of protection and law
Why was there a boom in the 1920’s?
WW1 Consumer society Help from the republican government Mass production Advertisements (mail order) Credits
What is an economic boom?
When a countries economy develops rapidly
Who was Henry Ford?
He was a person that wanted to create an affordable car. So he introduced the assembly line which was an electric belt that carried different parts of the car to different people, and in the end a whole car was produced. However these parts were standardised as only one colour was available, model and engine size. This saved money and time for the workers.
So as production got quicker the price of the car fell, and Ford decided to make different models of the car.
How did the production of cars influence people? Negs and Pos
Positive:
More jobs were created in companies and industries. For example, more jobs that supplied materials such as steel, glass, leather and rubber. Jobs in building roads, and also in gas stations. People felt a sense of freedom, they can go wherever they want, they don’t have to live near offices or shops as they can now drive anywhere
Negatives:
Cars cause pollution, there were accidents and more traffic jams on roads
Who didn’t benefit in the boom?
Farmers
Industries
African Americans
Peoples wealth
What was the stock market boom?
It was called playing the stock market. Ordinary americans, not just the rich, started buying shares from companies and selling them at a higher price and gaining profits OR received shares from a companies profits. They normally bought these shares by borrowing money from the bank and paying them back with the profits they made
How popular was it?
Even America’s president said that the stock market was a way of ending america’s poverty.
“Americans today are nearer to the triumph of poverty than ever before”
Shop keepers
car workers
House wives
