Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

USA > Role of the Government in the 1920s > Flashcards

Role of the Government in the 1920s Flashcards

1
Q

What happened to the Aid Bill which passed through Congress?

A

was vetoed by Coolidge

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What was the Agricultural Credits Act?

A

offered loans to cooperatives - encouraged farms to cooperate together

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

When was the agricultural credits act passed?

A

1923

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

How were farmers protected by foreign competition?

A

1921 Emergency Tariff Act & 1922 Fordney-McCumber Act

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Why were farmers hurt by protectionism?

A

foreign countries retaliate - so farmers can’t export surplus

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Why was the McNary-Haugen bill criticised?

A
  • failed to address overproduction
  • bureaucratic nightmare
  • higher prices might stimulate more domestic production (already overproduction)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What action did Supreme Court take against unions?

A

blocked them on banning of child labour / minimum wage for women

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

By late 1920s what were employees main concerns in terms of employment?

A

maintaining employment rather than conforming to union pressure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What was a disadvantage for labour of the rise of new industries?

A

many were anti-labour union

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What was a problem with the x12 regulatory banks headed by the Federal Reserve Board?

A

allowed to regulate themselves (no gov. interference)

= represented interest of bankers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

On average how many bank failures were there each year through the 1920s?

A

600 annually on average

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

To keep markets buoyant in the 1920s what did the Fed do?

A

favoured lower interest rates

= fuelled easy credit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Who / what were small scale farmers hurt by?

A

large scale “agricultural businesses” using machinery / mass-production and needing little labour

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What would the government do with the excess grain they purchased through the M-H Bill of 1924?

A

sell it abroad

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What did the M-H bill propose to pay farmers?

A

1924 prices

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What occurred in the passing of the M-H Bill?

A

passed through congress twice, but vetoed by Coolidge

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Who would have to pay an equalisation fee in the proposed McNary-Haugen Bill?

A

transporters / processors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What was the boom entirely dependent on?

A

continuing domestic consumption

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What did the Fordney-McCumber Tariff Act replace?

A

the 1913 Underwood-Simmons Tariff

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What was Wilson sympathetic to during his administration in terms of trade?

A

free trade

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Why were Republicans insistent protectionism was the way forward?

A

believed after war was over imports would increase - so protectionism would protect US industry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

What did the 1921 post-war minor depression aid the passing of?

A

the 1922 Fordney-McCumber Act

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

What was the President given the power to do in terms of the Fordney-McCumber Act?

A

vary tariff rates up to 50%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Why should the F-M tariff not be over-exaggerated? X2 factors

A
  • average rate only 38%

- lower than the Payne-Aldrich duty of 1909 (was 41%)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

What was the average tariff under the Underwood-Simmons Tariff?

A

27%

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What increase in the average tariff was seen between the Underwood-Simmons 1913 tariff and the Fordney-Mccumber 1922 tariff?

A

11% increase

27
Q

X4 negative impacts of the Fordney-Mccumber tariff

A
  1. counter measures against American trade = make it harder for American exports
  2. no competition for American businesses = able to raise prices (although only 1% inflation during period - so not bad)
  3. price of imports for average american consumer up
  4. farmers hurt as grain exports decline
28
Q

Who was protectionism most popular with?

A

big domestic businesses - particularly US chemical industry

29
Q

What was the weakening of trade unions largely down to; supreme court or actions of congress? Who dominated supreme court?

A

supreme court - Republican dominated

30
Q

What were unions banned from doing - making strike action less successful?

A

‘picketing’ - enforcing strikes

31
Q

What action meant the incentive to strike was reduced due to the consequences it would cause? - put in place by Republican government

A

unions would be liable for loss of trade during factory closure

32
Q

In 1929 what % belonged to a union?

A

less than 10%

33
Q

What had Wilson introduced in relation to child labour which was abolished by the Republican government?

A

punitive tax if factories used child labour

34
Q

Who won in the 1928 election?

A

Hoover

35
Q

The Hoover vs Smith 1928 election was essentially what ideology against what?

A

rural, Protestant America + self-help
vs
standing up for immigrants, Catholic + modern society

36
Q

What act was passed in 1921 in relation to the manipulation of grain on the stock market?

Why was the Act passed?

A

Grain Futures Trading Act

There was the belief that prices were being kept artificially high

37
Q

How many farmers left in 1920s?

How many acres of farmland were lost in 1920s?

What happened to agricultural production in the 1920s - why?

A

1.5million farmers left

13million acres of farmland lost

Agricultural production increased 9% in 1920s

38
Q

What did the passing of the Grain Futures Trading Act in 1921 show?

A

That the government recognised the plight of farmers - but offered no direct relief due to their laissez faire and fiscal conservatism

39
Q

Who attended the Washington Naval Disarmament Conference? When was it held?

A

Britain, Japan, USA

1921

40
Q

What did the Budget and Accounting Act establish?

What department did it notably include?

A

Bureau of the Budget

Department of Female Labour

41
Q

When did the surplus in the 1920s economy begin to decline?

What was a large cause of this?

A

1925

Decline in tax revenue

42
Q

How much did businesses save due to tax cuts in 1920s?

What did this encourage them to do?
Give an example

What problem did this arguably exacerbate?

A

businesses saved $3.6billion

encouraged businesses to reinvest
e.g Ford’s Dearborn Factory

may contribute to overproduction

43
Q

What did the rise of larger companies allow for which benefitted consumers?

A
  • discount purchasing
  • economies of scale
  • research and development into better products
44
Q

How many companies controlled the electricity of the USA?

A

X16 holding companies controlled 90% of the electricity of the USA

45
Q

How many paid tax in 1920 in the USA as a % of the population?

What % by the end of the 1920s?

How many people was this a decrease of?

A

1920 : 5% pay tax

1929 : 2% pay tax

decline of 1million people

46
Q

What was the name of the Act which allowed for the creation of farming cooperatives?

When was this introduced?

What did this mean farmers could do?

A

Capper-Volstead Act

1922

share the means of production / transportation / market together

47
Q

X2 impacts on consumers of the Fordney-McCumber tariff;

A
  • reduced competition for American companies - little need to reduce prices
  • higher import prices for American consumers
48
Q

Conditions of the debt funding commission for debt repayments from Britain

When was the Debt Funding Commission set up?

What did this give banks?

A

$4600million in 62years
at interest rate of 4.2%

set up in 1922

Gave banks confidence that they would benefit from status as a creditor nation and earn interest
= so more willing to lend

49
Q

Explain how the Farm Credit Act of 1923 weakened the banking system

A

credit system gave loans to farming collectives on easier terms

but 66% of farms were loosing money so were unable to repay = so banks were loosing capital

farm values decline by 30% over the decade
= so when farms were foreclosed upon, banks had assets which were worth less

50
Q

Decisions in relation to unions / labour;

A
  • yellow dog clause enforced by most new industries
  • picketing banned (enforcement of strikes)
  • became accountable and had to pay for losses generated during a strike
  • 1922 : child labour allowed
  • 1923 : equal rights amendment declined
51
Q

What happened to average working hours over the 1920s?

A

1920 : 47

1929 : 44

52
Q

Who was Secretary of State in 1920s?

How much did the Dawes plan appropriate to Germany?

Apart from supporting Germany what was this an attempt to do?

A

Charles Hughes

$200million

attempted to curb US’s saturated economy via stimulated German demand for US goods

53
Q

When was the Mississippi flood?

Who / how did this do harm?

A

Mississippi flood in 1927

harmed farmers since a large proportion now received no income at all

54
Q

In what election were immigrants not allowed to vote for the first time in 100yrs?

A

1928

55
Q

What did the Young Plan to German reparations repayments?

A

Reduced them from $23billion to $8billion

56
Q

What commission was set up by Hoover to investigate the problems of prohibition?

What did it suggest?

A

Wickersham commission

Suggested the problem of prohibition was its lack of enforcement by police / gov / agents

Advocated its continuation

57
Q

Growth in corporate profits:

women wages :

unskilled males :

What was the average of unskilled males more than women wages?

A

Growth in corporate profits: 65%

women wages : 2%

unskilled males : 8%

Unskilled males still earning 35% more than women

58
Q

Agricultural values of 1920s;

1920 :

1930 :

Oklahoma wheat revenue?

A

1920 : $10billion

1930 : $4billion

Oklahoma wheat revenue;
1920 : $1million
1930 : $7,000

59
Q

Electrical goods;
1912:
1929:

A

1912 : 2.4million

1929 : 160million

60
Q

Number of millionaires:
1920 -
1928 -

A

1920 - 7,000

1928 - 35,000

61
Q

Court case in 1923 where supreme court ruled against minimum wage;

A

ADKINS vs CHILDRENS HOSPITAL

62
Q

During WWI what was there a shortage of?

How did this contribute to the construction boom of the 1920s?

A

Shortage of building materials and labour
= all absorbed by war effort

Construction companies / realtors eager to fill housing shortage / compensate post-WWI

63
Q

Government policies during the 1920s fulfilled on whose promise in the 1920s election?

What was this promise?

A

Harding’s campaign promise

of a “return to normalcy”

64
Q

Example of an individual who invested heavily on the stock exchange and whose fortune collapsed;

Name

Wealth

What was his occupation?

A

Krueger

Fortune collapsed from $100billion to $4billion

‘Match King’

USA (33 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions