US1 Economic Boom 1920’s Flashcards
Why was WW1 a reason America had an economic boom?
- America stayed out of war and benefited financially
- banks would loan money to Britain and its allies for food, weapons and equipment this created many jobs for Americans
- American didn’t have wartime debts
Why was the republican government a reason for an economic boom?
- the fordney mccumber tariff put high taxes on imports as a result Americans bought more us made goods
- Cut taxes on Rich as a result they invested more into businesses creating more jobs
- low taxes in general
Why was consumer society a reason for the economic boom?
- number of US homes with electricity grew from 15% 1916 to 70% in 1927
- this meant more people could buy electric powered gadgets this meant more jobs were created to make them
Why was growing industries and mass production a reason for an economic boom?
- Growth of the motor industry boosted the US economy they used a variety of material more jobs were created in these industries as more cars were made
- Many businesses used the mass production developed in motor industry
Why was advertising a reason for an economic boom?
- Colourful billboards magazines urged people to buy more
- Catalogs made buying items more easy
- But now pay later schemes meant people could pay in small instalments
What was the difference in number of sales of consumer goods in 1919 and 1929?
Cars
1919: 9million
1929: 26million
Radios
1919: 60,000
1929: 10million
Telephones
1919: 10million
1929: 20million
What did Henry ford introduce in 1913?
The assembly line which used an electric conveyor belt that carried the partly assembled car past workers who did one or two small jobs
By 1926 how many cars were on americas roads?
Nearly 20 million and 1in 2 was a ford
What was the most popular way of making money?
Playing the stock market - buying and selling shares on companies
How many people owned shares in 1920 and 1929?
In 1920 4million people owned shares
In 1929 5x as many owned shares
