History 1920s America Flashcards
What caused the 1920s economic boom?
Rugged individualism
Consumerism
Government policy
Lack of competition (other powers recovering from WW2)
Stock market boom
Immigration (ample labour and industry)
What caused the stock market boom?
Confidence in shares
Individuals investing, not just companies
Speculation
What were the government policies at the time?
Laissez-faire attitude
Autarky (tariffs on imported goods)
Capitalism (less govt. involvement)
Who were the US presidents from WW1 until the crash?
Woodrow Wilson - 1913 (WW1 involvement)
Warren G Harding - 1921 (individualism & business)
Calvin Coolidge - 1923 (business & tax cuts)
Herbert Hoover - 1929 (stock market & individualism)
What was the Red Scare?
The fear of communism (and consequently immigrants) that led to 60,000 people being criminalised, despite only 556 having any factual basis.
In what year was the referendum to pass the Prohibition as law?
1917
What were some negative effects of the Prohibition?
- Lack of respect for the law
- Increased organised crime
- Less (legal) industry: less tax paid
- Corruption in government
What were the three main arguments for temperance?
Alcohol is the root of all domestic issues and wreaks havoc on the nuclear family, as well as causing crime
Beer was German and vodka Russian - seen as unpatriotic to use exports of enemies
Religious ideology (Christianity)
How did the sales of cars, radios, fridges and phones change 1920-1929?
Cars: 9m sales per year - 26m
Radios: 60000 - 10m
Fridges: x167
Phones: 10m-20m
How did the invention of the assembly line affect society?
Mass production: strong economy from industry
Less manual workers needed and more skilled workers required
Consumerism: cheaper goods and easily replaceable
Very large companies: change in job style (higher level/management)
What were the Fordney-McCumber tariffs, and what was their purpose?
Taxes on imported goods
Attempted to make USA industrial and economic powerhouse that didn’t rely on other countries or trade
Corporation and income tax lowered as already received from tariffs (employ and invest more)
How did the amount of shareholders increase from 1920 to 1929?
4 million to 20 million
What is the backstory of jazz, and how did it affect society?
As African-Americans migrated north, traditional African music travelled with them and evolved into jazz. Duke Ellington was a pioneer of the genre. It changed mindsets with its relaxed, lively and free style and created new types of dance (e.g. Charleston or onestep) with less societal conventions which in turn changed fashion.
Did the poor receive help from the government?
Not at all. The Republican govt. prioritised capitalism and believed in individualism, so the poor had to rely on high-interest loans or goodwill.
What was the unemployment rate?
5%