USA 1920s Boom 💰 Flashcards
When did the USA join the war?
1917 so they lost fewer respufces
What industry did America take over from the USA?
Germany’s chemical industry
When was the first moving assembly line?
1913 by Henry Ford
How many cars were made in 1900 and 1929?
1900 = 4000 cars made 1929 = 4.8 mil cars made
How many cars were there in 1919 and 1929?
1919 = 9 mil cars 1929 = 26 mil cars
Name 3 effects of car production
Oil, rubber, glass, steel, road building, petrol stations
How much glass was used in cars %?
75% of all glass was used in cars
How much did industrial production increase by in the 1920s?
50% increase
How much was spent on advertising per year?
$3 billion
How many radios were bought on credit?
8/10 radios
How many cars were bought on credit?
6/10 cars
Who was the Secretary Of the Treasury for most of the 1920s?
Andrew Mellon
Name 4 republican policies
Import tariffs, Laissez Faire, low taxation, normalcy
What are import tariffs and give an example
Tax in foreign goods meant people bought cheaper American goods
Eg. Fordney McCumber Tariff Act of 1922
Define laissez faire
govt stayed out of business affairs
Define normalcy
Normalcy kept America out of world politics and problems
Name 3 things America could do with raw materials
- get money by exporting it
- save money by stopping imports
- make consumer hoods
What did many people buy in companies?
Shares
Why did people begin to sell the shares they had bought?
They could make large profits of them
What was the first mail order catalogue?
Sears, Roebuck catalgoue
How did hire purchase effect employment?
More demand meant more jobs and wages
How did hire purchase effect disposable income of Americans?
More people could afford to buy products which increased demand
How did hire purchase effect assembly lines?
Mass production increased
How did hire purchase effect businesses?
Made bigger profits which could be reinvested to expand