X. The Roaring Twenties Flashcards
What is the Roaring Twenties?
A period from 1920–1929 marked by economic prosperity, consumerism, technological advancements, cultural changes, and business speculation in the U.S.
Why is the 1920s called the “Roaring Twenties”?
It was characterized by noise, lively action, and rapid social, cultural, and economic changes.
What was the Fordney-McCumber Tariff Act?
A 1922 law that raised taxes on foreign goods, encouraging Americans to buy domestically made products.
How did WWI contribute to the economic boom in the 1920s?
WWI increased factory production to meet wartime needs and opened global markets for American goods.
Name three key causes of the economic boom in America during the 1920s.
- Increased demand for American goods post-WWI.
- Pro-business policies like the Fordney-McCumber Tariff Act.
- Advancements in mass production and advertising.
What was the impact of mass production on consumer goods?
Goods like cars, refrigerators, and radios became cheaper and accessible to the middle class.
What role did Henry Ford play in mass production?
He revolutionized the car industry with assembly-line production, reducing the cost of cars from $850 in 1908 to $290 by 1925.
How did consumer credit support the economic boom?
Growth in hire purchase (installment payments) allowed people to buy expensive items and pay over time.
Name three industries boosted by car production.
- Steel
- Rubber
- Glass
How did the car industry impact American society?
It created jobs, boosted related industries, and spurred the development of motels, cafés, and the oil industry.
Which states benefited from the oil industry boom?
Texas became wealthy due to increased demand for petrol.
Why did Americans invest heavily in the stock market during the 1920s?
Industrial profits and economic optimism encouraged speculation.
What risky behavior was common among investors?
Borrowing money to buy stocks (buying on margin), which led to bankruptcies when share prices collapsed.
How did cinema evolve during the 1920s?
- By the end of the decade, 100 million tickets were sold weekly.
- Hollywood films became globally famous.
- “Talkies” (films with sound) were introduced in 1928.
Name two famous film stars of the 1920s.
Charlie Chaplin and Rudolph Valentino.
What was prohibition?
A ban on the production, sale, and consumption of alcohol in the U.S., introduced in 1918.
How did prohibition affect society?
It led to the rise of underground bars (speakeasies) and organized crime.
How did mass production affect agriculture?
Mechanization increased production, leading to overproduction and falling crop prices.
How did prohibition impact wheat farmers?
Demand for wheat, used in alcohol production, plummeted, leading to further financial struggles.
Why did overproduction harm farmers?
It caused prices to drop further, forcing farmers to borrow money and remortgage land.
What desperate measures did some farmers take?
Some burned their crops because it was cheaper than harvesting them.
Who did not benefit from the economic boom of the 1920s?
Non-white populations, immigrant workers, African Americans, Native Americans, and small farmers.
Why were farm laborers in the South and Midwest affected by the economic boom?
Mechanization reduced the need for labor, causing unemployment and wage drops.
How did racism shape the economic experience of African Americans during the 1920s?
Most lived on the economic margins and were excluded from the prosperity enjoyed by industrial workers.
What marked the end of the Roaring Twenties?
The stock market crash of 1929, leading to the Great Depression.
How did stock market speculation contribute to the crash?
Over-reliance on borrowed money for stock investments led to massive bankruptcies when share prices collapsed.
