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11 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What can America's Boom be accredited to? |
Laissez-faire, Assembly line, Consumer credit, Knowledge (and inventions in technology). Position of USA after WW1, Advertising, New consumer goods, Tariffs, Share confidence. |
LACK PANTS |
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Which groups missed out on the boom? |
Farmers, African-Americans, Trade Unions |
FAT |
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What happened to farmers during the boom? |
During WW1, farmers experienced a period of increased demand and prosperity. Countries recovered agriculturally, and there was less need for US produce. US Agriculture faced overproduction due to mechanisation, which greatly increased output, and further depressed prices. |
Overproduction |
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How did the government respond to the problem farmers faced in 1920s? |
The Fordney-McCumber Tariff Act of 1922 closed off American produce to other countries as they introduced retaliatory tariffs. The McNary-Haugen Bill was proposed for the government to buy surplus corn and wheat to sell it abroad for the best price. It would have been beneficial, but was never passed. |
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What happened to trade unions in the boom? |
The Red Scare of 1919 and the Palmer Raids of 1920s led many workers to avoid joining unions. Union membership which had grown during the war, to 5.03 million in 1920, fell to 3.6 million during the 1920s. Union membership was discouraged by 'Big Business', or employees were forced to sign 'yellow dog' contacts, agreeing that they would not strike. Further, most workers were happy, as the boom was positively effecting them. E.g. Ford introduced the $5 8-hour working day. |
Yellow dog contract, membership fell. |
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How did the motor industry affect the USA? |
By 1929, about 10% of the workforce were either in car manufacture, or the industries supported by it. 15% of steel output went into cars. 80% of rubber production went to the car industry. Road making industries benefitted, as did paint, oil and electrical equipment industries. |
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Warren Harding. When was he President? |
1921 - 1923 |
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How was Harding's administration when he died? |
There was corruption in Harding's administration, and enquiries began shortly before Harding's death, to look into it. The 'Ohio Gang' is the title given to 3 men in Harding's administration who were corrupt: Harry Daugherty, Attorney-General, was accused if taking bribes from bootleggers. Albert Fall, Secretary of the Interior, was involved in the 'Teapot Dome Scandal' which involved leasing oil reserves and taking loans. Charles Forbes, director of the Veteran's Bureau, had embezzled about $250, 000. |
Ohio Gang |
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Who was Andrew Mellon? And what were his policies? |
Secretary of the Treasury from 1921 - 1932. He believed in encouraging private effort and initiative through a policy of tax cuts and lower government spending. Mellon wanted to reduce the maximum rate of income tax to be 25%, which he achieved by 1925. |
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When was Calvin Coolidge president? |
He was president from 1923 - 1928. He believed in reduction and reform of taxation. He supported growth of business, and only legislated when he believed it was necessary. |
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What was 'isolationism' and 'protectionism' and how did America display it? |
Isolationism was a foreign policy, in which the US focused on itself. An example of it, was America rejecting the League of Nations. Protectionism was a policy adopted by the US, in which trade was restricted from abroad in order to limit competition. E.g. The Fordney-McCumber Tariff Act saw an 11% increase in some selected products. |
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