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
How many people were speculating by 1929?
20 million
How much was spent on share?
$9 billion
Who were given work thanks to assembly line production?
Unskilled workers / immigrants / women
How much did female employment increase by?
24%
What were the biggest contributors to the boom?
Cars
What plant did Ford own and with how many workers?
River Rouge and 80,000 workers
Where did middle class people move to?
Gross Point Park in the suburba
What entertainment did cities provide?
Jazz clubs and sports events
How many of workers at River Rouge were immigrants?
70%
What did flush toilets rose from and to?
20% to 51%
What did vacuum cleaners rise from and to?
9% and 30%
What did washing machines rise from and to?
8% to 24%
What did fridges rise from and to?
1% to 8%
On avg, how much time did women spend less on housework?
3 hours per week less
When was the busiest period of building in US history
1920s
What year was farmer income at $22 billion
1919
In what year was farmer income $13 billion?
1928
How many farms has electricity and mains water?
Less than 10%
How many Americans lived in rural areas?
1/2
How many farmers were forced off their land?
6 million
What pests decimated crops?
Boll Weevil
Competition from….?
Canada
How many semi-skilled workers had a car?
3%
How many black farm labourer’s lost their work in the 1920s?
1 million
What was and who were sharecroppers?
Black farmers - shared profits from cotton farming
What were coal workers wages?
1/3 of national average
What was coal being replaced by?
Hydro electric, natural gas and oil
When was there a strike in North Carolina?
1928
What caused the 1928 N.Carolina strike?
In coal/steel - men were paid $18 and women $9 for a 70hr week
What was seen as the minimum required for the basic standard of living?
$48
What were girls wages for how long and where in the textile industry?
Elizabeth Town, Tennessee
18c an hour for a 56hr week
What 2 laws did the Supreme Court overrule?
banning of child labour and it banned setting minimum wages
What % of wealth went to the bottom % of the population
10% wealth went to the bottom 42% of population