General (T1) Flashcards
What approach did the gov. in the 1920s have towards the economy?
Laissez-faire
Who mainly benefitted from the boom?
WASPs - mainly men
Who were WASPs?
White Anglo-Saxon Protestants
Which political party were the 1920s Presidents a part of?
Republicans
What is meant by the term ‘economic boom’?
A time when the economy of a country is growing and making more money.
The majority of the population are richer and the country is trading well with other countries
What is the stock market?
The platform on which stocks and shares of companies are bought and sold.
What is the difference between the Bull Market and the Bull Pool?
The Bull Market is when there is lots of confidence and lots of buying and selling on the stock market.
The Bull Pool is when dishonest brokers buy and sell stock to and from each other to keep prices high.
What evidence is there of prosperity in 1920s America?
- Unemployment never rose above 3.7%
- Real wages rose by 14% between 1914-1929
- Production of industrial goods rose by 50%
What is Hire Purchase and By 1929, what % of cars were bought through it?
75%
How did income distribution vary across America? Give precise examples
NE - $921
SE - $365
For farmers in South Carolina it was $129
60% of Americans earned an annual income of less than $2000
What was the stability of employment like in 1929?
Fluctuating employment 4 million unemployed during this period
For every 4 successful businesses, 3 failed
How did the population of America change during the 1920s?
106.5 million up to 123 million
Nov 1918
The armistice is signed at the end of WW1
Jan 1919
Eighteenth Amendment - introduction of Prohibition
Jan - May 1920
The Red Scare and the Palmer Raids
What happened in Aug 1920
Nineteenth Amendment - women could vote in Federal elections
What was the roads act passed in 1921 called?
The Federal Highways Act
What was the childcare act that was passed in 1921?
Sheppard Towner Act
Sept 1922
Fordney-McCumber Act
What act was passed in 1923?
Agricultural Credits Act
1924
By this year, Ford Motors controlled 50% of the automobile industry
May 1924
Johnson-
Reed Immigration Act
Dec 1925
The New Negro anthology published
Sept 1926
End of the Florida Land Boom
Oct 1926
The Sun Also Rises by Ernst Hemingway published
Aug 1927
Execution of Sacco and Vanzetti
May 1927
Charles Lindbergh’s first solo flight across the Atlantic
Oct 1929
Wall St Crash
Who was president 1913 - 1921?
Woodrow Wilson, Democrat President
Who was president and Vice president 1921 - 1923?
Warren G. Harding, VP Calvin Coolidge
Who was president and Vice president 1923 - 1929?
Calvin Coolidge, VP Charles Dawes
Who was president and Vice president 1929 - 1933?
Herbert Hoover, VP Charles Curtis
Who was Andrew Mellon?
Secretary of the Treasury (in charge of economic policy) 1921 - 1932
What was The Federal Highways Act?
This gave the government the responsibility for the building of roads. 10,000 miles of roads were to be built each year.
Why were Sacco and Vanzetti executed?
They were two Italian immigrants who were accused of an armed robbery. They were arrested while they were carrying guns and also claimed to be anarchists- but this evidence was questionable.
Sheppard Towner Act.
Sheppard Towner Act
This gave federal funding to maternity and childcare services. This was not fully supported as some believed it reinforced the view that women were only meant to have children and give birth.
The Wall Street Crash
The Wall Street Crash
The prices of business stocks and shares plummeted and millions of dollars were lost. It led to a huge slow down in the economy. It is not a cause of the depression but a symptom of the economic problems already present.
Johnson Reed Immigration Act
Johnson Reed Immigration Act
This put a cap on immigration at 150,000 migrants per year, this would be divided between different countries of origin dependent on the size of the group already there. It also banned all immigration from Japan.
What is the difference between the Bull Market and the Bull Pool?
The Bull Market is when there is lots of confidence and lots of buying and selling on the stock market.
The Bull Pool is when dishonest brokers buy and sell stock to and from each other to keep prices high.
What is credit?
the ability of a customer to get goods before payment, based on the trust that payment will be made in the future.
What evidence is there of prosperity in 1920s America?
- Unemployment never rose above 3.7%
- Real wages rose by 14% between 1914-1929
- Production of industrial goods rose by 50%
How did income distribution vary across America? Give precise examples
NE - $921
SE - $365
For farmers in South Carolina it was $129
60% of Americans earned an annual income of less than $2000
What was the stability of employment like in 1929?
Fluctuating employment 4 million unemployed during this period
For every 4 successful businesses, 3 failed
How did the population of America change during the 1920s?
106.5 million up to 123 million
What is credit?
the ability of a customer to get goods before payment, based on the trust that payment will be made in the future.
