Decline In Industry 1920s America Flashcards
What percent of the US labour force worked on farms
33%
In the 1920s, what percent of farmers began to operate at a loss
66%
How much did wheat prices fall in the 1920s
60%
Why did farm produce fall in value
- Overproduction
- Man made materials were more popular for clothes than cotton
- Prohibition reduced the demand for wheat (wheat is used in brewing)
- Mechanisation meant tractors replaced horses, so farmers now needed fuel
- Foreign countries put tariffs on food imported from USA so it was harder to sell overseas
- European farms had recovered by 1922 so no longer needed to import from USA
Why was there overproduction of farm goods
- WW1 encouraged more production
- The Agricultural Credits Act 1923 made it easier for farmers to take out loans to improve their farms
- Mechanisation - there were 10x as many tractors in 1915 than 1910.
- New seeds, fertilisers and pesticides were produced during WW1
By 1929, what percent of the American workforce was in farming
20%
What older industries declined during the 1920s
- Coal mining
- Textiles
- Railroad
Why did coal mining decline
Oil, electricity and gas began to replace it
How many tonnes of coal were mined in 1920 and 1930
1920 - 568m
1930 - 518m
Why did the textiles industry decline
Changing fashions and competition from silk and the new rayon
Why did the railroad industry decline
The transport needs of WW1 were no longer issues and the rise in car ownership
What happened as older industries declined
Workers suffered - not easy to find new jobs, because one industry often dominated a region and because they needed skills for other jobs
What was the average wage of a rail worker in 1920 and 1929 per year
1920 $1807
1929 $1749
How many people were unemployed at some point in Muncie, Indiana
72%
How many jobs were lost in coal mining between 1923-1929
Around 200k
