Boom and Crash Flashcards

(43 cards)

1
Q

USA emerged from WW1

A

Wealthiest country on earth
1922-1929 = Production of industrial goods rose by 50%
Unemployment = Never higher than 3.7%

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2
Q

1920 Ford + Mass Production

A

1920 = Ford producing 1,250,000 cars per year
1920 = Ford producing 1 car every 60 seconds
Price of Model T in 1914 before mass production = $950
Price of Model T in 1925 after mass production = $250

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3
Q

Growth of business schools - 1920’s

A

1928 = 89 specialist business schools educating 67,000 students

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4
Q

Advertising - 1920’s

A

Companies - psychologists to design campaign + target specific groups - ‘Lucky Strike’ labelled ‘Torches of Freedom’
1929 = Companies spending $3 billion annually on advertising

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5
Q

Electrical Goods - 1920’s

A

1912-1939 - Number of electrical goods sold per year rose from 1.4 million to 160 million

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6
Q

Mass Production of Automobile - 1920’s

A

1920-1929 = Number of cars rose from 7.5 million to 27 million
Road Building at rate of 10,000 miles per year by 1929

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7
Q

President Calvin Coolidge

A

1923-1928

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8
Q

Andrew Mellon

A

Treasury Secretary 1921-1932

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9
Q

Andrew Mellon’s Tax Cuts

A

Government reduced taxes in 1924, 1926, 1928

Mellon gave out $3.5 billuon of tax reductions to big coorporations

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10
Q

Child Labour

A

Textile mills of the south - children worked for 56 hour weeks

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11
Q

1922 Fordney-McCumber Tariff

A

High tariffs

Protectionism

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12
Q

Hire-Purchase

A

1929 = $7 billion worth of goods brought on credit

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13
Q

Reasons for declining demand in agriculture

A

Prohibition reduced demand for grain used in manufacture of alcohols
Growth of synthetic fibres reduced demand for textile crops e.g. cotton
Introduction of more machinery + modern methods meant more could be produced on less acreage
1920’s = 13 million acres taken out of production, but overall production increased by 9%
High Tariffs = no foreign market

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14
Q

Result of declining demand in agriculture

A

Overproduction

66% of farms operated at a loss

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15
Q

1923 Agricultural Credits Act

A

Government policy was to lend money, placing small farmers in debt

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16
Q

Black Americans in 1920’s

A

85% of black americans lived in the south
1930 - Black farmers made up 14% of small farmers while accounting for less than 10% of population
Black americans who moved to industrial cities in the north faced discrimination in housing and unemployment
Ghettoes - Harlem in New York - black american population grew from 50,000 in 1914 to 165,000 by 1930
KKK

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17
Q

Unequal distributionn of the economic boom

A

Prosperity concentrated in Industrial North and West of USA
1929 - per capita incomes of north = $921
per capita income of west = $881
per capita income of south-east = $365
1929 survey found that 60% of families had incomes less than 2,000
Unemployment unstable - sociologists found that 72% of families surveyed in 1924 Muncie, Indiana had been unemployed at some stage

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18
Q

1920’s Immigration

A

1921 Emergency Immigration Law

1924 Johnson-Reed Act

19
Q

1921 Emergency Immigration Law

A

Ceiling of immigration from any European country, limiting it to 3% of nationals living in the USA in 1911
Clearly favoured western European countries e.g. Britain, while discriminating New Immigrants from southern and eastern Europe

20
Q

1924 Johnson-Reed Act

A

Banned immigration from Japan

21
Q

Red Scare

A

Fears of Attorney General A. Mitchell Palmer, concerning the threat of a Communist revolution in the USA
1919 - 4 million workers on strike
Series of assassination attempts on public figures - Palmer
Threats of violent revolutions blamed on ‘new immigrants’ from southern and eastern Europe
‘Palmer Raids’ = 6000 arrested , no evidence against them
December 1919 = USS Buford. nicknamed ‘Soviet Ark’ used to deport to Russia 249 ‘undesirable’ aliens accused of left wing views

22
Q

1920’s Extent of Communist Support

A

Commentators greatly exaggerated extent of Communist support - some placing membership as high as 600,000
Many confused industrial action with political radicalsm of Communists
Cynics = Palmer promoting idea of Red Scare to support attempt to run for President
Palmer warned of huge Communist demonstration to take place on 20th May 1920 = Failed to materialise

23
Q

Saccho and Vanzetti

A

Accused in 1920 of armed robbery
Professed to be anarchists, little evidence against them
Massive campaign to have them acquited, executed in 1927`

24
Q

KKK

A

1921 = 100,000 followers
Edgar Clark + Elizabeth Tyler = Leaders of the Klan + Fundraisers
Exploited membership = Charging recruits $10 to join, Double the amount for robes + selling printing material at a vast profit
1924 Hiram Wesley Evans - Leader
Klan could control politicians + police
1924 = Helped elect governors in Maine, Ohio, Colarado and Lousiana
Klan had little influence in big cities
Klan maintained national profile = 13 September 1926 over 50,000 marched through Washington DC
Stimulated the migration of black Americans north to industrial cities
Collapse of KKK - corruption -
Revelations of financial corruption by Klan leaders in Pennsylvania
Klan - scandal - charismatic leader David Stevenson of Indiana accused of 2nd degree murder following suicide of lady he was alleged to have raped
1924 = 4 million members
1929 = 20,000 members

25
Women - Politics - 1920's
Limited political opportunities 19th Amendment of 1920 gave right to vote for women 1928 = Only 2/435 delegates in House of Representatives were female 1928 = NO female senators
26
Women - Employment - 1920's
Small numbers of women found success in film industry + fashion Plentiful employment as typists or clerical work in offices Rare for women to move up to managerial positions 1930 = omly 150 women doctors + less than 100 female accountants in USA Vast majority of women in low paid employment - e.g. shop work, clerical, domestic service Received less pay
27
Women's Issues - 1920's
Increasingly concerned with issues of birth control + healthcare American Birth Control League - government and conservative voices unsympathetic 1921 Sheppard-Towner Act = Gave states federal aid to develop healthacre for pregnant women Simply reinforced role of women as child bearers and detracted from the need for birth control
28
Flappers - 1920's
Hedonistic lifestyle Many shocked by women attending public places unchaperoned, dancing, smoking and flaunting Prohibition Liberated social behaviour did not provide more career opportunities or equal treatment
29
Traditional Views of Women - 1920s
Women remained traditional in views 1929 Muncie survey, 898% of girls would like a job but would leave the job after marriage Education for girls = remained focused on domestic skills
30
Prohibition
1918 = 18th Amendment banned the sale, transportation and manufacture of alcohol in order to end consumption of alcoholkkkkkkkkkkkkkkkkkkkkkkkkkk
31
Reasons for Prohibition
Women's Groups argued that alcohol consumption was a means by which men oppressed women e.g. Women's Christian Temperance Union. Big business owners claimed drunkenness caused danger + inefficieny in workplace Religious groups believed that alcohol was a cause of immoral behaviour
32
Why prohibition failed
Impossible to police the 18,700 miles of US coastline = easy to smuggle in alcohol Bootleggers Treasury Agents charged with enforcement of Prohibition were poorly resourced + paid Less than 5% of illegal alcohol intercepted Profits from illegal alcohol was $2 billion a year
33
Prohibition - Crime
Huge rise in growth of organised crime + gangsterism Mobsters controlled territory by force + established monopolies of alcohol in areas Disputes led to gang wars Chicago - notorious - crime Al Capone = leading gangsters in Chicago He inisisted he did not force anyone to drink alcohol + was only meeting demand Dealt with competitors ruthlessly 1929 St Valentine's Day Massacre = members of rival gang killed Al Capone's 700 strong gang responsible for 300 murders in Chicago alone Capone jailed in 1932 = his gang had done $70 milluon worth of business
34
Success of Prohibition
More successful in rural and small town areas = wide support Many areas remained 'dry' Credited for; Fall in number of road deaths as a result of drunken driving Fall in numbers of convictions for convictions for drunken behaviour Improvements of safety in workplace
35
Failure of Prohibition
Criminalised millions of people Some saw it as attack on working class consumption of alcohol Mainly working class saloons that were shut down Organised crime
36
End of Prohibition
1929 Wickersham Committee to investigate the effectiveness of Prohibition, acknowledged it couldn't be enforced, despite taking 66% of law enforcement budget President Roosevelt abolished Prohibition in 1933 20th Amendment made it responsibility of states to decide prohibition
37
Jazz Age 1920's
Jazz - defining music of US cities in 1920's Rooted in black American musical traditions Jazz mainstream Louis Armstrong provided rhythms for new dance crazes - Charleston + Black Bottom
38
Harlem Renaissance
1920's Harlem = predominantly black neighbourhood Overcrowding, poor living conditions + crime Night Clubs = Cotton Club Artists = Louis Armstrong + Duke Ellington White Clientele Centre of black intellectuals; Jessie Fauset = writer, editor and campaigner for black empowerment Alain Locke + Langston Hughes = Challenged racial stereotypes through poetry Zora Neale Hurston = novelist + anthropologist James Weldon Johnson = black american poet first promoted Harlem Renaissance in 1925 essay 'The Making of Harlem' Essay published success stories = 'Pigfoot Mary' made a fortune selling fast food on street corners Other black americans = 'White tourism' = animals in a zoo
39
New Negro
New Negro Movement associated with Harlem Renaissance Marcus Garvey's Universal Negro Improvement Society = separatism + migration to Africa NAACP (National Association for the Advancement of Colored People (NAACP) opposed by separatism
40
American Literature 1920's
Ernes Hemingway + F Scott Fitzgerald at height of influence Disillusioned with US society, believing it to be more materialistic and too focused on economic growth The Sun Also Rises + The Great Gatsby
41
Radio - 1920's
1922 = 500 local stations 1926 = 1st national network set up = NBC 1927 = 50 million people listened to boxing match between heeavyweights Gene Tunney and Jack Dempsey 1923-1929 = Radio sales grew from $60 million to $842 million Amos n Andy = audience rising to 40 million
42
Cinema - 1920's
Charlie Chaplin + Mary Pickford Hollywood = 4th largest industry - in terms of capitalist investment + employed mroe people than either Ford ir General Motors In any one day, more than 10 million people watching films at 20,000 cinemas Moral Corruption over Hollywood = Scandals among stars such as accusations of severe sexual misconduct against the comic actor Roscoe 'Fatty' Arkbuckle in 1926 Will Hays - censoring - to ensure film content remained 'clean' and 'wholesome'
43
Sport - 1920's
Age of mass spectator sport Boxer Jack Dempsey made $10 million over the course of his career Baseball Bath Ruth = $800,000 just from playing Baseball was particularly popular due to emergence of talented players - Babe Ruth + Lou Gehrig Baseball was severly segregated 1920 Negro National Baseball League = High point of the season, East-West All-star game attracted crowds of over 30,000 Black American Leagues = among most profitable black-American owned businesses