T1 Boom and crash Flashcards

1
Q

What technological innovation significantly impacted American industry in the early 20th century?

A

The introduction of the assembly line by Henry Ford in 1913

This innovation allowed for mass production, making the U.S. the world’s leading industrial nation.

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2
Q

What economic effects did World War I have on American businesses?

A

Maximized profits by supplying the Allies with food and weapons

This led to a shift from a debtor nation to the world’s main creditor.

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3
Q

What was the Republican belief regarding government intervention in the economy?

A

Minimal government

This belief influenced policies such as low taxes and high tariffs.

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4
Q

How did credit availability change from 1921 to 1929?

A

Credit extended by the U.S. Federal Reserve Bank increased from $45.3 billion to $73 billion

This increase in ‘cheap money’ boosted purchasing power.

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5
Q

What was the average wage increase in the U.S. from 1921 to 1929?

A

From $1,308 to $1,716 per year

This wage rise contributed to increased spending power.

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6
Q

What was the increase in the number of radios owned by Americans from 1920 to 1929?

A

From 60,000 to 10 million

This created a mass audience for new forms of communication and advertising.

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7
Q

What was the change in the number of department stores in the U.S. from 1920 to 1929?

A

From 312 to 1,395

This reflects the growth of consumerism during the economic boom.

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8
Q

What was the increase in business profits during the 1920s?

A

Rose by 80%

Share dividends also rose by 65% during this period.

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9
Q

What was the production efficiency achieved by Ford’s assembly line?

A

Reduced car production time from 12½ hours to 1 hour

This allowed Ford to produce 1 million Model Ts each year in the 1920s.

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10
Q

What percentage of U.S. manufacturing output did the car industry contribute by 1930?

A

13%

The industry also employed 4 million workers.

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11
Q

What were some of the materials heavily utilized by the car industry by the mid-1920s?

A
  • 96% of the nation’s oil
  • 75% of the nation’s plate glass
  • 65% of the nation’s leather
  • 80% of the nation’s rubber
  • 20% of its steel

This indicates the car industry’s vast impact on various sectors.

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12
Q

What percentage of American families earned less than $2,000 a year during the economic boom?

A

60%

This statistic highlights the unequal distribution of wealth.

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13
Q

What was the total farm income drop from 1919 to 1921?

A

From $10 billion to $4 billion

This decline left many farmers unable to pay off loans.

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14
Q

What was the McNary-Haugen Bill?

A

A plan to help farmers by purchasing surplus commodities at a guaranteed price

It was passed by Congress but vetoed by Coolidge.

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15
Q

What was the significant date of the Wall Street Crash?

A

October 24, 1929

This date is known as ‘Black Thursday’.

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16
Q

What was the total loss in share values by the end of ‘Black Tuesday’?

A

$14 billion

This marked an all-time low for share prices.

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17
Q

What were some underlying weaknesses in the American economy leading to the crash?

A
  • Unequal distribution of wealth
  • Over-extension of credit
  • Farming problems
  • Trade problems
  • Stock market speculation
  • Federal economic policies

These factors contributed to the economic instability.

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18
Q

What did the Federal Reserve Board do in July 1928 that signaled economic issues?

A

Raised interest rates

This action indicated concerns about the economy despite ongoing stock market enthusiasm.

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19
Q

What was the consequence of the Wall Street Crash for banks?

A

A run on the banks occurred, leading to many closures

In 1929 alone, 659 banks closed with lost deposits of $200 million.

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20
Q

What demographic changes occurred in immigration patterns in the 1920s?

A

Increased immigration from Eastern Europe

Many immigrants were unskilled and illiterate, leading to fears among American workers.

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21
Q

What was the effect of the Russian Revolution on U.S. immigration policy?

A

Raised fears of communism, leading to anti-immigration sentiment

This contributed to the passing of restrictive immigration laws.

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22
Q

What was the Immigration Quota Act of 1921?

A

It restricted immigration by introducing a quota system based on the presence of nationalities in the US population in 1910.

This Act particularly reduced immigration from Eastern and Southern Europe.

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23
Q

What was the limit set by the National Origins Act of 1924 for Eastern European immigrants?

A

The limit was reduced to 2% of the existing population from the same background in 1890.

This Act excluded Asian immigrants completely.

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24
Q

Which groups were completely unrestricted by the immigration laws of the 1920s?

A

Mexicans and Canadians.

Asians were effectively banned from immigrating.

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25
What were the primary reasons for the population growth in the USA during the 1920s?
Increased immigration. ## Footnote The population grew from 106 million in 1920 to 123 million in 1929.
26
What was the Ku Klux Klan's main aim during its resurgence in the 1920s?
To maintain white Protestant supremacy. ## Footnote Its victims included blacks, immigrants, Jews, and Roman Catholics.
27
How many lynchings of black Americans were reported between 1919 and 1929?
About 357 reported lynchings. ## Footnote The highest numbers occurred between 1919 and 1923.
28
What were the Espionage and Sedition Acts?
Laws that silenced criticism or opposition to the government during World War I. ## Footnote These Acts were particularly aimed at immigrant groups opposing the war.
29
What was the significance of the trial of Sacco and Vanzetti?
It highlighted racial discrimination and the political atmosphere of the time. ## Footnote Both men were convicted based on circumstantial evidence and received a controversial trial.
30
What was Prohibition?
The ban on the production, export, import, transportation, and sale of alcoholic beverages. ## Footnote It was enacted through the 18th Amendment and came into effect in January 1920.
31
What organization was primarily behind the Prohibition movement?
The Anti-Saloon League. ## Footnote The League was supported by middle-class temperance groups, including The Women’s Christian Temperance Union.
32
What was the impact of Prohibition on crime in the USA?
It led to the rise of illegal liquor businesses and organized crime. ## Footnote Criminal gangs controlled the illegal alcohol trade, particularly in cities like Chicago and New York.
33
What was the role of women during the 1920s in relation to social norms?
Many young women, known as 'flappers', rejected traditional codes of conduct. ## Footnote This period marked a significant cultural shift, challenging previous expectations of women.
34
What was the outcome of the women's suffrage movement in the 1920s?
The 19th Amendment was passed, granting women the right to vote. ## Footnote This amendment became law on August 26, 1920.
35
Fill in the blank: The Palmer Raids were conducted to root out _______ and anarchists.
foreign-born subversives. ## Footnote These raids were a response to the 'Red Scare' and fears of communism.
36
True or False: The Quota Act of 1921 favored immigrants from Eastern and Southern Europe.
False. ## Footnote The quota system favored WASP immigrants over the 'new' immigrants.
37
What significant event occurred on April 15, 1920, involving Sacco and Vanzetti?
They were arrested and charged with robbery and murder. ## Footnote Their arrest coincided with the peak of the Palmer raids.
38
How many agents were appointed to enforce Prohibition by 1930?
Around 3,000 agents. ## Footnote Their task was complicated by corruption and a lack of resources.
39
Who became the first woman to be elected to Congress?
Rankin (Montana) ## Footnote Rankin was a significant figure in the women's suffrage movement.
40
What campaign did The National Woman’s Party, led by Alice Paul, begin?
A more aggressive campaign to secure the vote. ## Footnote This was part of the broader women's suffrage movement.
41
In what year did women picket the White House in freezing temperatures?
January 1917 ## Footnote This was one of the pivotal actions in the women's suffrage movement.
42
How many women became the first political prisoners in the US for peaceful picketing?
168 women ## Footnote Their arrests highlighted the struggle for women's voting rights.
43
What action did the arrested women take while in prison?
Went on hunger strike and were force-fed. ## Footnote This was a form of protest against their treatment.
44
When was the 19th Amendment to the US Constitution passed?
1919 ## Footnote It became law on 26th August 1920, allowing women to vote.
45
Who was the first woman to be elected state governor?
Nellie Tayloe Ross of Wyoming ## Footnote This occurred in 1924.
46
Who became the first female mayor of a city in 1926?
Bertha Knight Landes ## Footnote She served as mayor of Seattle.
47
What organization tried to raise women's awareness of new opportunities in 1920?
The National League of Women Voters ## Footnote Carrie Chapman Catt was a prominent leader in this effort.
48
What percentage of medical school places were allocated to women in the 1920s?
5% ## Footnote This reflects the limited opportunities for women in the medical field.
49
What was the percentage of college students who were women in 1920?
47.3% ## Footnote This statistic shows the significant presence of women in higher education.
50
What was the main demographic of the American workforce in the 1920s?
Mainly male ## Footnote Despite an increase in women working, they represented only 24% of the population.
51
What was one reason for the limited achievements of women during this period?
Lack of unity among women ## Footnote Many were not interested in politics and held differing views on their societal roles.
52
What group was the most influential section of American society in the 1920s?
White, Anglo-Saxon Protestants (WASPS) ## Footnote They were descendants of the original English-speaking settlers.
53
What did fundamentalist politicians succeed in passing in 1921-2?
Bills banning the teaching of evolution in schools ## Footnote This was part of a larger cultural clash in America.
54
Who was arrested for challenging the ban on teaching evolution?
John T. Scopes ## Footnote He was a biology teacher in Dayton, Tennessee.
55
What was the outcome of the Scopes trial?
Scopes was found guilty and fined $100 ## Footnote The trial highlighted the conflict between science and religion.
56
What cultural movement was characterized by jazz music and dance in the 1920s?
The Jazz Age ## Footnote It was a significant cultural phenomenon following World War I.
57
What was the Harlem Renaissance?
A cultural, social, and artistic explosion in Harlem, New York ## Footnote It marked a rebirth of African American arts.
58
Who was largely responsible for the growing popularity of baseball in the 1920s?
Babe Ruth ## Footnote His influence was complemented by the rise of radio broadcasting.
59
What role did radio play in the 1920s?
It facilitated the spread of jazz and the popularity of baseball ## Footnote Radio was a new and adaptable medium during this time.
60
What was the significance of the 1920s for cinema?
It was the 'golden age' of cinema ## Footnote The introduction of talkies in 1927 revolutionized the film industry.
61
What themes characterized American literature in the 1920s?
Realism and social issues ## Footnote Many authors reflected on the impact of war and societal changes.
62
Who published 'The Great Gatsby' and in what year?
F. Scott Fitzgerald in 1925 ## Footnote The novel addresses themes of decadence and excess.
63
What writing style is associated with Ernest Hemingway?
Simplified, minimalist style ## Footnote His works often dealt with themes of struggle, courage, and loss.