Roaring 1920s Flashcards
Recession
economic slowdown
Inflation
rising prices
Consumer revolution
a flood of new affordable goods available to the public
Grew stockmarket
Show off material things with new goods
Installment buying
method of purchase in which the buyer makes a small down payment, then pays off the rest in regular monthly payments
Buying on margin
system of buying stocks, in which a buyer pays a small percentage of the purchase price, while a banker takes the rest
Unreliable for the rising and falling of stocks
Income tax
tax on your salary
Eugenics
Immoral theory that people with desirable genetic features should reproduce and those who do not shouldn’t
Quota system
limited entry of immigrants into the U.S.
2-3% allowed into the U.S per year
Prohibition
Banning of alcohol
WWI increased Temperance
18th Amendment
Grew organized crime
Bootlegger
sold illegal alcohol, illegal drinking clubs, made by criminals
Jazz
Mix of blues and ragtime, expressed AA culture.
Creditor nation
country which is owned more money by others than it owes
Henry Ford
Revolutionized the automobile industry and helped the economy to grow
Assembly lines
Mass production
Workers are also consumers (rights for workers)
Model T
Affordable car 4 all
more travel= more customers
made by Ford
Boom in Industry
Companies made since travel and tourism increases
Steel, oil, glass
Shorter work hours, more pay
allowed workers to have more free time and buy cars/rest
Workers went on strike for rights
Ohio Gang
Advisors to Hardin who were greedy, small-minded men
wanted to take advantage of govt. power
Harding’s campaign promises
“return to normalcy”
reduce big business taxes
conservative policies
Harding as president and he used his advisors
Told others to make decisions for him
Teapot Dome Scandal
secretary of interior used oil reserves for oilmen, to they could give him loans to pay him with.
Oil was meant for Navy
Made Americans lose faith in the govt.
Calvin Coolidge
Preserving the old values of America
“Silent Cal” but good with words
30th president
“The man who builds a factory builds a temple”
He is saying that a factory is like a temple for business. Which means business and the economy is just as important as religious values
Tax Revenue Acts
Andrew Mellon reduced taxes
help people and govt. get income flow
Increase economic productivity
Lift country from financial hole, more jobs, debt is paid back
Kellogg-Briand Pact of 1928
A treaty to outlaw war in National Policy
Plan 4 Peace
Dawes Plan
Arrange Germany’s reparations for WWI
U.S loaned Germany money so they could pay Britain and France
Stopped because of stock market crash