Return To ‘Normalcy’ Flashcards
How did the value of the Stock market grow from 1925-1929?
1925 = $27 Billion
1929 = $87 Billion
How many share holders were there in the USA by summer 1929?
20 Million
What are three reasons for the Wall Street Crash?
- The banking system
- Over-speculation on the stock market
- Avalibilty of easy credit
What was wrong with the banking system by the end of the 1920?
It was outdated
- Reserve banks favoured bankers (over nation)
- Local banks struggled (not part of centralised system)
- Interest rates kept low to keep market a float
What are four long term problems with the economy in the 1920’s?
- Falling demand for consumer goods
- Instability of the ‘get rich quick’ system
- Problems with Agriculture
- Problems with ‘old’ industries
What % of the US population lived below the poverty line?
42%
What did the population of Florida grow by from 1920-1925?
1920 = 968,000
1925 = 1.2 million
How much did wheat prices fall after WW1?
$2.5 a bushel
$1 a bushel
which ‘old’ industries struggled in the 1920’s?
- Coal
- Textiles
What happened in Florida in 1926?
Hurricane - Killed 400 people and left 50,000 homeless.
Caused thousands to go bankrupt due to investments in ‘Land boom’
What was the problems with Agriculture in the 1920’s?
- Falling prices
- Machenery led to overproduction
- Couldn’t sell abroad due to high tariffs.
- Competitive market (Canada)
Who became President after Wilson?
Warren Harding (1921-23)
Who became President after Harding?
Calvin Coolidge (1923-29)
Who became President after Coolidge?
Herbert Hoover (1929-1933)
Who were the three Presidents in the 1920’s?
- Warren Harding (1921-23)
- Calvin Coolidge (1923-29)
- Herbert Hoover (1929-33)