The Boom Years Flashcards
In the 1920 how many radios were sold?
60 000
In what year were 60 000 radios sold?
1920
How many radios were sold in 1929?
10 million
In what year were 10 million radios sold?
1929
How many telephones were sold in 1915?
10 million
In what year were 10 million telephones sold?
1915
How many telephones were sold in 1930?
20 million
In what year were 20 million telephones sold?
1930
How many homes had electricity in 1918?
Few homes
In what year did few homes have electricity?
In 1918
How many homes had electricity by 1929?
Most homes had it.
By what year did most homes have electricity?
1929
What was the first mail order catalogue?
Sears Roebuck
What was Sears Roebuck?
The first mail order catalogue.
How many pairs of silk stockings were sold in 1900?
Only 12 000 pairs
What was invented in the 1920s which was a cheap substitute to silk?
Rayon
How many pairs of silk stockings were sold in 1930?
300 million
How many people were 300 million pairs of silk stockings sold to in 1930?
100 million people
By how much did Queens grow by in the 1920s?
It doubled in size
What was/is Queens?
A suburb outside New York City
By how much did Grosse Point Park grow by in the 1920s?
700%
What was/is Grosse Point Park?
A suburb outside Detroit.
How many trucks were there in 1919?
1 million
In what year were there 1 million trucks?
1919
By 1929 how many trucks were there?
3.5 million
By what year were there 3.5 million trucks?
1929
How many cars were sold in 1919?
9 million
In what year were 9 million cars sold?
1919
How many cars were sold in 1929?
26 million
In what year were 26 million cars sold?
1929
By 1930 how many flights were there a year?
162 000
By what year were there 162 000 flights a year?
1930
How did road length change during the 1920s?
It doubled
Why did road length double?
Due to the Federal Act of 1916
What industry employed more people than any other industry in the USA for the next 10 years?
Road building
What was there more being done in the 1920s than any other time in history?
Building
Where were skyscrapers built?
In New York City
How many times more fridges were there in 1929 for every fridge existing in 1921?
x167
Between 1920 and 1929 what did the Gross National Product rise by?
40%
Between 1920 and 1929 what did income per person rise by?
27%
How many Ford cars were built every 10 seconds by 1925?
1
By 1925 how often was one Ford car built?
Every 10 seconds
In the 1920s what materials were produced for the first time?
Plastic,
Cellophane,
Nylon
What acronym helps remember the causes of the 1920s boom in the USA?
FIRST
What does F in FIRST stand for?
First World War
When did the USA going the First World War?
Late in 1917
How did the First World War cause the boom?
- As the USA joined the war late in 1917 they lost fewer resources.
- The USA lent the allies money and sold them goods. This was one way trade.
- America took over trade around the world as Britain, France and Germany were too busy fighting.
- They became leaders in certain industries (they took over Germany’s chemical industry).
What does the I in FIRST stand for?
Industries and methods
In what year was the first moving production line (assembly line) set up?
In 1913
Who was the first moving production line (assembly line) set up by?
Henry Ford
How many cars were made in 1900?
4000 cars
In what year were 4000 cars made?
1900
How many cars were made in 1929?
4.8 million
In what year were 4.8 million cars made?
1929
What was the first mass produced car?
The Model T Ford
What did cars have knock on effects to?
Oil,
Rubber,
Glass,
Steel,
House building,
Road building,
Holiday resorts,
Petrol stations.
More people bought cars therefore more people bought petrol, houses, holidays, and drove on roads (which led to a boom as road length had to be increased so people had to be employed to build them so more people had money to buy cars and the cyclical structure continues)
What consumer goods became cheaper due to assembly lines?
Cars,
Radios,
Vacuum cleaners,
Washing machines.
What did total industrial production increase by in the 1920s?
50%
What sophisticated sales techniques were introduced?
Travelling salesmen,
Poster adverts,
Radio adverts,
Billboard adverts.
What did credit schemes encourage?
They encouraged poorer people to buy items such as cars on credit.
How many radios were bought on credit?
8 out of 10
How many cars were bought on credit?
6 out of 10
What was the saying associated with credit schemes?
Buy now pay later
What was hire purchase?
Hire purchase was buying products using loans, it allowed people to buy from mail order catalogues and make weekly payment instalments rather than paying the full amount all at once.
What movement proposed the newest and most efficient industrial techniques and methods?
The Industrial Efficiency Movement
How did industries and methods cause the boom?
- The first moving production line (assembly line) increased production massively. Each worker had a specific job.
- Other consumer goods became cheaper due to assembly lines.
- Sophisticated sales techniques were introduced.
- Credit schemes encouraged poorer people to buy items (Buy now pay later).
- Hire purchase allowed people to buy from mail order catalogues and make weekly payments.
What does the R in FIRST stand for?
Republican policies
Who were the Republicans?
A political party.
When were the Republicans in power?
From 1920 - 1932
What is the order of the Republican presidents?
Harding
Coolidge
Hoover
Who was in charge for most of the 1920s?
Secretary of Treasury Andrew Mellon (of the Republicans)
How did low taxation help people?
They had more money to spend
What were import tariffs?
Tax on foreign goods
Which Act introduced import tariffs?
The Fordney McCumber Tarrif Act of 1922
What does Laissez faire mean?
Leave well alone
What did Laissez faire mean the government did?
They stayed out of business affairs - allowing industry to grow without interference.
What were trusts?
Huge super corporations dominated by businessmen.
What was Normalcy?
Normalcy meant staying out of world economic problems, it kept America out of world politics and problems.
What is an economic boom?
When the economy grows fast
What is the cycle of prosperity?
When demand leads to growth.
What is taylorism?
Industrial efficiency
Who was John D Rockefeller?
An oil baron
Who was Nelson Rockefeller?
An oil baron
Who was JP Morgan?
A banker and he established US steel
Who was Owen Young?
A radio producer and the founder of NBC
Who was Donald Douglas?
An aircraft industrialist
Who was Warren Harding?
The president until 1923
Who was Calvin Coolidge?
The president until 1928
Who was Herbert Hoover?
The president until 1932
How did Republican policies cause the boom?
- Low taxation helped people by giving them more money to spend.
- Import tariffs put tax on foreign food which made them more expensive so people bought cheaper American goods.
- Laissez Faire (leave well alone) meant that the government stayed out of business affairs allowing industry to grow without interference.
- Trusts were huge super corporations dominated by businessmen such as Rockefeller and Carnegie who made decisions to help their industry grow.
- Normalcy kept America out of world politics and problems
What does the S stand for in FIRST?
State of mind
What did most Americans believe about spending money?
That it was good to spend and bad to save.
How did State of mind cause the boom?
- Most Americans at the time believed that it was good to spend and had to save. They wanted plenty to eat and the latest consumer goods. They wanted to keep up with the neighbours.
- A chicken in every pot and a car in every garage - Herbert Hoover
What was the saying which contributed to state of mind?
“A chicken in every pot and a car in every garage” - Herbert Hoover
Who said “A chicken in every pot and a car in every garage”?
Herbert Hoover
What does the T in FIRST stand for?
Three raw materials
What raw materials did America have an abundance of?
Coal,
Oil,
Iron.
How did the three raw materials cause the boom?
- America had an abundance of raw materials including coal, oil and iron.
- They could make money by selling raw materials abroad (exporting).
- They could save money by not importing.
- They could use the materials to make consumer goods.
How did industrialists benefit from the boom?
They controlled business through Laissez faire and amassed vast fortunes.