Roaring Twenties Flashcards
What could the US economy go into?
Boom, Recession, Depression
Foreclosure
banks taking your homes
What is recession?
Economic Slump
What did voter discontent lead voters to elect?
Republican
Who did Warren G. Harding choose?
able men who followed pro-business policies.
Who became the secretary of commerce and what did he/she do?
Herbert Hoover,
worked to help American business expand overseas
Who is Albert Fall and what did he do?
Secretary of Interior
he secretly leased two oil executives government land in California and Teapot Dome, Wyoming
What was the result of Fall’s issues?
Fall became the first Cabinet official ever sent to prison
What is with the “Ohio Gang”?
old friends of Harding who filled other Cabinet posts.
Who is Charles Forbes and what did he do?
Head of Veterans Bureau
convicted of stealing millions from the bureau
What do many people believe caused Harding’s death? How did he actually die?
Due to all of the stress
Harding died in 1923 of a heart attack
What did Coolidge believe that the prosperity of all Americans depended on?
success of American business
Coolidge Prosperity?
factories switched to making consumer goods, the quantity of goods made by industry almost doubled, and incomes rose.
What type of consumer products did Americans begin to buy?
Electric refrigerators, radios, phonographs, vacuum cleaners
Installment Buying?
buying on credit. Buy now, pay later
What gave the stock market a boost?
the economic boom
Stock?
Share of ownership in a corporation
Bull Market?
period of increased stock trading and rising prices
Margin Buying?
An investor bought a stock for as little as a 10% down payment. The buyer held the stock until the price rose, and then sold it as a profit.