Chapter 20 Flashcards
(39 cards)
Mass Production
-production of goods in large numbersthrough the use of machinery and assembly lines
Model T
- automobile manufactured by Henry Ford to beaffordable on the mass market
- Durable
- Made affordable for the middle class using mass production
- 850 to 290 dollars (after assembly line & mass production)
Scientific Management
- approach to improving efficiency
- experts looked at every step of a manufacturingprocess, trying to find ways to reduce time, effort, andexpense
Assembly Line
- arrangement of equipment and workers inwhich work passes from operation to operation in directline until the product is assembled
- Reduced the making of a car from 12 hours to 90 minutes
- Created by Henry Ford
- Perfected by Scientific Management
Consumer Revolution
-flood of new, affordable goods in thedecades after World War I
Installment Buying
- method of purchase in which buyermakes a small down payment
- Later payoff the restof the debt in regular monthly payments
Bull Market
- period of rising stock prices
- Value of your stock is at an all time high
- People used stocks to become rich
Buying on Margin
-system of buying stocks in which abuyer pays a small percentage of the purchase pricewhile the broker advances the rest
Andrew Mellon
- Harding’s Secretary of Treasury
- Wanted economic policy that supports business interests
- Favored low taxes on corporations and individuals
- Decreased war budget from 18 billion to 3 billion
- Led to the government having more money than it needed to run
Herbert Hoover
- Harding’s Secretary of Commerce
- Worked with business and labor leaders to achieve voluntary advancements
- Got people to work together instead of against
Charlie Forbes
- Veteran Administration leader
- Make deals w/ businesses that effected Veterans & Tax payers
- Ex: bought 70,000 dollars worth of floor cleaner (100 years worth) at 24 times the fair price
Harry Daugherty
- Attorney General during Harding Administration
- Charge people w/ serious crimes
- Doherty would drop charges if payed
Teapot Dome Scandal
- scandal during the Harding administrationin which the Secretary of the Interior leasedgovernment oil reserves to private oilmen in return forbribes
- Fall sold the navy oil to private contractors (went to jail)
Calvin Coolige
- Became president due to President Harding’s death
- Believed that creation of wealth benefitted the nation as a whole
- “Silent Cal”
- Left office in 1928
- Favored no government intervention
Washington Naval Disarmament Conference
- meetingheld in 1921 and 1922 where world leaders agreed to limitconstruction of warships
- Limit the possibility of war
Kellogg-Briand Pact
-1928 agreement in which manynations agreed to outlaw war
Dawes Plan
- agreement in which the United States loaned money to Germany, allowing Germany to make reparation payments to Britain and France
- French = mad because Germany hasn’t paid them (steal coal)
- We loan money to Germany for reparations to France and Britain
Modernism
- Artistic and literary movement sparked by abreak with past conventions
- Emphasize science and secular values over traditional ideas about religion
Fundamentalism
- Movement or attitude stressing strictand literal adherence to a set of basic principles
- Beliefs upon faith alone
- Every word of the Bible is truth
Scopes Trail
- 1925 trial of a Tennessee schoolteacher forteaching Darwin’s theory of evolution (not allowed)
- Didn’t teach Creationism so got in trouble
- William Jennings Bryan is the prosecutor
- Scopes was found guilty (fined $100)
- Example of Fundamentalism and Modernism clashing
Clarence Darrow
- Most celebrated defense attorney in America
- Defended John Scopes during the Scopes Trial
Quota System
- Arrangement that limited the number ofimmigrants who could enter the United States from specificcountries
- Still used today
- Enacted due to WWI and the Red Scare
Ku Klux Klan
- Organization that promotes hatred and discriminationagainst specific ethnic and religious groups
- Powerful politically in the South during the 1920s
- Against Christians, Jews, and African Americans
- Terrorized businesses and controlled politicians
Prohibition
- The forbidding by law of the manufacture,transport, and sale of alcohol
- Temperance reformers wanted the movement
- Around 1917
- Occurred additionally because of WWI (barley, wheat, and corn was needed)
- Led to growth in organized crime