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Roaring 20's
| Question | Answer |
|---|---|
| Unemployment rate in 1921? why? | 11.9% by 1921; We created a War Economy - where our economy is geared up for preparing and building things for the war. They have to lay off workers after the war bc they aren't needed bc the war is over; now the focus is on consumer goods. |
| Agriculture Surplus = low prices = destroys farmers.. WHY? | After the war stops, there is no demand for the goods anymore. Farmers are overproducing things, so the price has to be lowered in order to sell it. Problems with paying back the land that they bought to feed the soldiers in war. |
| Red Scare. years? meaning? what happened? | Meaning of red scare: Communist's flag is red. The "Reds". Series of terrorists acts. They assume that its the Reds trying to take over. Must be a Communist Revolution in America. |
| Lasting effect of the Red Scare? | Lasting Effect: Americans immediately said that the Red Scare was the result of immigrants. Helps fuel the anti-immigrant view for the americans. Fuels KKK. |
| Isolationism? Treaty? Why is this thought happening? | After WW1 the USA doesn't want anything to do with other countries; WW1 was a mistake, we shouldn't have gotten involved; The whole worlds economy is tied with our economy; Treaty of Versailles; we never agreed to League of Nations. |
| Washington Naval Confrence. year? what is it? | 1921; 5 countries got together and created a ratio of ships in each others navy; Not trying to race each other to keep up with each others navy. |
| Kellogg-Braind Pact. year? what? | 1928; make wwar illegal... didnt work! |
| German War Reparations. how much did they ow the US after the war? how did they try to solve it? | 30 billion; Inflation is on high! Germany was constantly printing money; they couldn't keep up with the inflation. |
| Allied war debt to US. How much? what went down? | 22 billion. Strain on European economies; a whole bunch of people in their country died and the country was destroyed, but they are having to send their money over to pay for the debts. |
| Fordney-McCumber Tariff, year? what was it? | 1922; we pass tariffs to try to protect our trade. we want to make sure that foreign goods are more expensive so that the US businesses can survive and americans buy locally.;raised tariff on imported goods;crushes europe; |
| What is germany's only finacial hope? | amerian banks to loan money to germany to get it back in order. |
| Dawes Plan. year? what? | 1924; 2 things: Give germans extremely low interest rate loans; Lowered the payments; It worked! Made things easier for Germany;Stabilizes Germany; economic growth UNTIL the Great Depression. |
| Republican Dominated Decade? why? | VERY buisness friendly |
| Election of 1920; who ran and won reps? slogan? | Warren Harding (R); "Return to Normalcy"; the US needs to chill out, progressivism retracts; WW1 Rocked the progressive view; Rep. Pro-Business guy returns to the scene;Solid South still in effect with voting for Democrats. |
| Hardings presidency plauged with scandels. (3)? | teapot dome; veterans beareu; attorney general |
| Teapot dome scandal? involved? what happened? | Involved Sect. of Interior - Albert Fall Bribery. accepting money in who he would let use the oil reserves |
| Veteran's bereau? what went down? | Designed to take care of veterans The person he put in charge steals 200 Million dollars from here. |
| Attorney General? responsible for? what happened? | Harry Daugherty (Bribery) Responsible for making Harding president. Burnt everything. No proof of anything. |
| What happens to Harding? year? | dies of stress in 1923 |
| Who takes Hardings place? VP? motto? | Coolidge. "The business of America is Business"=Coolidge's motto;Forget the rules!;Great era for businesses ;MASSIVE GROWTH;Easily Won 1924 Election;Reps rule the 20's |
| Election of 1924? who won? | Coolidge |
| election of 1928? who won? lanslide or not? rep or dem? | hoover; rep; landslide! |
| when did we have massive economic growth? year? middle classes? | after 1921; middle classes were richer and had more money; First time that cities more opoulated than rural areas |
| What does more money mean? | more leissure time; More entertainmetn |
| Media Played to Self Interest. 3 examples? | radio, newspaper, jazz journalism |
| nickname for journalism in 1920's? | jazz journalism |
| Baseball. guy? first in 1921? first leagues? | babe ruth; 1st million dollar gate in 1921; first black leagues; more blacks had time to come out and watch |
| 1927 what came out? | "talkies" |
| in 1922 how many movie tickets sold a week? | 40 million |
| in 1929 how many movie tiickets sold a week? how many ppl in US? | 100 million; 122 million |
| Biggest cinema? seats how many? where? | The Capitol Theater in NYC seating 8,000 became the biggest cinema in the world. |
| Walt disney's first talkie? | micky mouse |
| how many radio stations in 1921? | 5 |
| How many radios stations in 1929? | 618 |
| rasio sales in 1922? | $60 million |
| Radio sales in 1929? | $843 million |
| first commercial radio station? | KDKA in pittsburgh |
| first automobile? by who? 1 car for every ___ people in US? btw __ and __ million by 1929? | Ford "model T"; henry ford; 1 car for every 5 ppl in US; 2 million to 5.5 million bby 1929 |
| What is still big today that was big back then? | jazz and broadway |
| Household commodities? (4) | refrigerators; gas stoves; iron; telephones |
| what caught up to americans? huge __? | materialism and consumerism; debt |
| What was teh term used for borrowing money and paying on it? | Installment plans - buying credit |
| When does spending and borrowing crash? year? why? | 1929; borrowed and spent wayyy too much. Too much debt |
| Speculation; definition? example? | Buy cheap, sell high = big profit; MIAMI LAND BUBBLE. Florida land and then the hurrucane destroys everythinig and a ton of ppl lose their money |
| Buying "in the margin". what is this? | Borrowing the amount of money you paid in. As long as the stock goes up, then you can pay the broker, and the broker can pay the bank. |
| when does the bull market begin? what is it? | 1927; aggresive buying and selling |
| stock , broker, inestor, banks? explain. | Purchase stock through a broker but pay only a % of the price; Broker financed the remaining amount for the investor by borrowing from a bank; IF stock dropped, investor had to pay up the difference. |
| How muc hdebt does BUYING ON THE MARGIN lead to? | $8 billion |
| "black thursday"? date? what went down? | Oct. 24, 1929; Prices started to lag - so more sellers than buyers;No money to buy anything;no buyers, too many buyers in debt - cant buy;panic to sell, prices DROP |
| What do lenders do during black thursday? Brokers? banks? | buy up stock to prop up market;banks lean on brokers, brokers lean on investors; pressure to sell and get the money the owe;Thousands of ppl do it on the following Tuesday (Black Tuesday) - everyone sells everything;Investors try to sell stock ,no buyers. |
| "Black Tuesday" date? how much lost? what happened? | "Black Tuesday" Oct. 29, 1929 Investors dumps millions of stock to cash in... what happens to price of stocks? $30 billion lost in one day |
| Why did black tuesday and thursday happen? 2 reasons? | 1. $8 billion in debt from buying stock on credit; You cant buy and spend anymore 2. Shrinking Market; Domestic market shrinking (Ams. in debt); Slowed down making stuff bc we haven't doing foreign trade;Tariff killed chance of foreign markets |
Created by:
Ktfic
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