Return To ‘Normalcy’ Flashcards
(96 cards)
1
Q
How did the value of the Stock market grow from 1925-1929?
A
1925 = $27 Billion
1929 = $87 Billion
2
Q
How many share holders were there in the USA by summer 1929?
A
20 Million
3
Q
What are three reasons for the Wall Street Crash?
A
- The banking system
- Over-speculation on the stock market
- Avalibilty of easy credit
4
Q
What was wrong with the banking system by the end of the 1920?
A
It was outdated
- Reserve banks favoured bankers (over nation)
- Local banks struggled (not part of centralised system)
- Interest rates kept low to keep market a float
5
Q
What are four long term problems with the economy in the 1920’s?
A
- Falling demand for consumer goods
- Instability of the ‘get rich quick’ system
- Problems with Agriculture
- Problems with ‘old’ industries
6
Q
What % of the US population lived below the poverty line?
A
42%
7
Q
What did the population of Florida grow by from 1920-1925?
A
1920 = 968,000
1925 = 1.2 million
8
Q
How much did wheat prices fall after WW1?
A
$2.5 a bushel
$1 a bushel
9
Q
which ‘old’ industries struggled in the 1920’s?
A
- Coal
- Textiles
10
Q
What happened in Florida in 1926?
A
Hurricane - Killed 400 people and left 50,000 homeless.
Caused thousands to go bankrupt due to investments in ‘Land boom’
11
Q
What was the problems with Agriculture in the 1920’s?
A
- Falling prices
- Machenery led to overproduction
- Couldn’t sell abroad due to high tariffs.
- Competitive market (Canada)
12
Q
Who became President after Wilson?
A
Warren Harding (1921-23)
13
Q
Who became President after Harding?
A
Calvin Coolidge (1923-29)
14
Q
Who became President after Coolidge?
A
Herbert Hoover (1929-1933)
15
Q
Who were the three Presidents in the 1920’s?
A
- Warren Harding (1921-23)
- Calvin Coolidge (1923-29)
- Herbert Hoover (1929-33)
16
Q
What were Harding’s Policies?
A
- Return to ‘Normalcy’
- Little governemnt involment
- Isolationism
17
Q
What achievements did Harding have?
A
- Returned to Normalcy - Was popular with the US people
- Made good appointments
- The Sheppard-Towner Maternity Aid Act
- Cut Gov spenidng
- Fordny-McCumber Act (1922)
18
Q
How much did Hardinf cut government spending from 1920-1922
A
1920 = $5,000 million
1922 = $3,333
19
Q
What was the Sheppard-Towner Maternity Aid Act?
A
Gave federal aid to encourange the development of infant and maternity health centers
20
Q
What was the Fordney-McCumber Act?
A
1922
Increased protective tariffs
21
Q
What were Harding’s shortcomings?
A
- Scandel (Extramarital affairs)
- Corruption (e.g Teapot Dome Scandel)
- Limited Government intervention (achieved very little)
22
Q
What were Cooliage’s achievements?
A
- Very popular
- No scandel
- Continued ‘Million Plan’
- Largest economic boom in US history
23
Q
What were Coolidge’s failings?
A
- Did very little
- Didn’t speak up on American problems (named ‘Silent Cal’)
24
Q
What was the ‘Mellon’s Plan’?
A
- Low Tax
- Low Interest Rates
- Low Government Spending
25
What was the Revenue Act?
1924
- Cut income tax
- Part of the ‘Millions Plan’
26
What was Hoover’s economic beliefs?
- Very laisez Faire attitude
- Believed in rugged individualism - people should help themselves or others
- Federal Government shouldn’t be involved
27
What was the Hawley-Smoot Tariff?
1930
- increased tariffs = increase in prices = no domestic demand + decrease in trading = over-production
28
What was the Revenue Act?
- 1932
- Increase in tax
29
Who were the Bonus Marchers and how did Hoover treat them?
- Wanted to get their promised bonus from serving in world war early
- Camped in Washington
- He set the federal army on them = injured over 100
30
What was the Reconstruction Finance Corporation?
- Began in Jan 1932
- Let $2 bil to rescue banks, companies ect
31
What was the Emergency Relief & Construction Act?
1932
- Gave $300 mil to state governments to help unemployed
32
What was the Home Loan Bank Act?
1932
- stimulated house building
- Gave government loans to buy houses (but had to give a 50% deposit)
33
what was the Grain Stabilisation Corporation?
1930
- Government bought grain to keep prices up
34
What was the Agricultural Marketing Act?
1930
- Provided loans to farmers (Government backed)
35
what was the result of Hoover trying to help farmers?
- It didn’t work
- Were backed by artificially high prices and Tariffs increase meant less trade.
36
Why wasn’t Hoovers actions during the depression that bad?
- Unprecident situation
- 1930 Agricultural Marketing Act
- 1930 Grain Stabilisation Corporation
- 1932 Reconstruction Finance Corporaion
- 1932 Emergency Relief and Construction Act
- 1932 Home Loan Bank Act
- FDR’s New Deal copied some of his policies
37
Why was Hoover’s actions during the depression bad?
- Believed in Rugged individualism
- Was involved in the 1920’s gov that added to depression
- 1930 Hawley-Smoot Tariff
- 1932 Revenue Act
- 1932 Bonus Marchers Treatment
- Public Opition - Blamed him (Hoovervilles)
38
What 9 factors explain the economic boom in the 1920’s?
- Natural Resources
- Laissez fair and Tax Policy
- Rugged Individualism
- Tariffs
- Advertising
- Credit
- Business + Car Industry - Mass production, managment, road building
- Stock Market Boom
- Impact of WW1
39
How did Republican Policies lead to Economic Boom?
- Laissez Faire + Tax - business increased, Mellon Plan (reduced tax)
- Rugged Individualism - achievement based in hardwork - entreprencership
- Tarrifs - Ford McCumber Tarriff 1922 - raised tariffs - decrease income tax
40
How much did companies spend on Advertsing?
- $3 billion ( x5 more than in 1914)
41
What % of good were bought on credit?
- 50%
42
How did advertising and credit boost the economy?
- Advertising - used psycologists to entice new consumer - boosted consumerism
- Credit - Buy now pay later - meant more people could buy - boosted consumerism
43
How did busniess and the car industry develop to create economic boom?
- Mass Production Techniques - Ford’s Magic belt - Assembly line
- New Managment techniques - companies merged - exploit plentiful material and work force
- Road Building and Cars - led to development of motels and garages
44
How quick could ford make a car?
1920 - 10 seconds
1913 - 3 minutes
45
How many cars were there in 1929?
26 million cars
46
how did the prices of cars reduce to?
$850 -> $295
47
By 1929 how many miles of road were created a year?
10,000 miles
48
What 6 outcomes came from WW1 that impacted economic boom?
- Stopped Germany’s chemical industry - America took over - Exported $281 million
- Technological advancements - stimulated new products e.g plastic
- By 1920 - US was the worlds largest industrial nation
- Loans to Allies returned
- Properganda improved advertising
- Sent resourses to both sides
49
How did WW1 show progression for women?
- 1 million helped with war effort
- 100,000 served in army in europe
50
How did WW1 show a lack of progression for women?
- Mainly worked as nurses or admistrative jobs
- Lost their jobs after the war
51
How did politic show progression for women in the 1920’s?
- Recived the vote in 1920 - 19th Ammendment
- Wyoming elected first female govener 1924
- Seattle had first female mayor 1926
52
What was the 19th Ammendment?
Gave women the right to vote
53
How did politics demonstrate a lack of progression for women in the 1920’s?
- Few became politicans
- Equal rights ammendment failed to become law
54
How did employment show progression for women in the 1920’s?
- Female employment rose by 2 million from 1920-30
- 1930 - 1/3 of degrees went to women.
- Female movie stars
55
How did employment show a lack of progression for women in the 1920’s?
- Most had low paying jobs
- Expected to give up work when married
- Medical school only gave 5% of places to women
- Only 4% of university employees
56
How did Flappers show progression for women in the 1920’s?
- Made of middle to upper class living in the north
- Short skirts, makeup, smoked, the charlston
57
What did Margaret Sanger found?
- The American Birth Control League 1921
58
What did many traditional women join?
- Anti- flirt league - retalliation to Flappers
59
what was the Comstock Act?
- Created in 1873
- Banned articles on contraception
60
Who didn’t share in the economic prosperity in the 1920’s?
- Women
- Farmers
- Old Industries
- African Americans
- New Immigrants
61
What was the problem with farming in the 1920’s?
Mechanisation -> Overproduction -> Prices fell -> Farmers lose land and rural banks go bust
62
Why did prohibition fail?
- Couldn’t enforce - not enough agents
- Demand for alcohol - drank underground
- Geographical difficulties - couldn’t prevent smuggling
- Suppliers
63
What were bootleggers?
- Manufactored and distrubuted alchol
64
What was moonshine?
- Secretly manufactored alcohol
65
Who was the famous Chicago mobster?
Al Capone
66
How many gang murders were there from 1927-1930?
227
67
When was the Valentines day Massacer
1929
68
What was the 18th Ammendment?
- Enforced prohibition
- Acohol couldn’t be sold, transferred or made
- 1919
69
What act defended Prohibition?
- 1920 Volstead Act
- For drinks with more than 0.5% of acohol
70
When did Prohibition last til?
- 1933
71
What 6 reasons were behind the introduction of Prohibition?
- Big Business - drinking reduced productivity
- Poverty - believed drinking contributed to poverty
- Women - Christian Temperance Union
- Brewery’s were German Sounding
- World War 1 - unpatriotic to drink
- Anti-Saloon league - campaigned on the negative effects of acohol.
72
Which womens group campaigned for prohibition
Women’s Christian Tempermance Union
- Believed it was a sin
73
What 3 reasons could show prohibition as a success?
- Fewer industrial and Road accidents
- Less deaths from alcoholism and liver cirrhosis
- Total alcohol consumption fell
74
What are 3 reasons that show Prohibition as a failiure?
- Illegal drinking made criminals of normal people - law was widely broke
- The Wickerman Commission of 1929 said it was unenforceable
- Government lost alcohol tax revenues and had to spend money on enforcement
75
Where was the KKK first revived and by who?
- Atlanta
- William Simmons
76
Who was the new leader of the KKK?
Hiram Evans
77
What did KKK membership go from in 1920 to 1925?
1920 - 100,000
1925 - 5 million
78
What did the KKK do in 1925?
— Marched on Washington
- Showed power and that they weren’t just in the south.
79
What violent crimes continued towards black people in 1920’s?
- Lynching
- Tarred and Feathered
- Beating and intimidation
80
What film inspired the Revival of the KKK?
“Birth of a Nation”
- showed the KKK in a postive light after the civil war.
81
What are 3 reasons behing the growth of the KKK?
- “Birth Of a Nation”
- Increasing Industrialistion, urbanisation and Immigration
- Resentment to African Americans in WW1
82
What are the 5 reasons for the decline in the KKK from 1925?
- Scandel - David Stephenson convicted of rape
- Fraud
- Quotas - anti-immigrantion feeling reduced
- Prosperity - rising income reduced hatred
- Politics - politicans dissociated
83
Who effected the KKK’s Moral Image?
- 1925
- David Stephenson
- Convicted of rape and murder
84
Why didn’t African American’s share in the economic prosperity?
- 85% lived in the south - poorest area
- Unskilled so lacked employment opputunities except from in labour market
- Majority were farmers (not benefited)
- Northerners lived in “Ghettos”
85
Why was there growing injustice to Immigrants in the early 1920’s?
- WASP Prejudices - religious differences, culterally seen as inferior (drunk, lacked eductation)
- Red Scare - spread of communism
- Economic - trade unions opposed them
- WW1 - feared increase would lead them to another war
86
What was thw Emergency Quotas Act?
- 1921
- Only 3% of ethnic groups already in the US since 1910 could enter
- Limited imigration to 350,000 a year
87
What is the National Origins Act?
-1924
- Reduced to 2% - based on 1890 census
- No Asians
88
What was the trial of two immigrans in the 1920’s?
Sacco and Vanzetti
- Immigrants
- Both accused of murder
- Unfair trial - many witnesses were unsure on what they saw
- Found Guilty
89
What was Black Thurday?
- 24th of October 1929
- Panic selling - 13 million shares
90
What was Black Tuesday?
- 29th October 1929
- 16million shares traded - huge losses
- 40% of the value of the stockmarket was lost
91
What did unemployment rise to by 1932?
- 1.6 million to 16 million
- 3% to 25%
92
What was a Hoovervile?
- Shanty town
93
What was a hooverblanket?
- Newpaper
94
How many banks failed in March 1933?
5,500
95
What was a major effect that the Wall Street Crash had on banking?
- The Bank of the United States Closed
96
How much did the economy shrink by in 1932?
- 15% (was 14.7% the year before - so only getting worse)
