1920's America
- Created by: Noah_S
- Created on: 24-06-19 18:59
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- 1920's America
- Wall Street Crash
- Causes
- Nature of 'Banks'
- Happy to give money away with none to spare
- JP Morgan - market manipulation, insider dealing
- Reassured people that things were alright
- Speculation
- Lots of people borrowed money for stock exchange
- "Buying on Margin" - Buy now, Pay later
- 2 1/2 million shares sold from 23rd Oct in 5 days
- No buyers
- Lots of people borrowed money for stock exchange
- Government policy
- Ran on a "laissez-faire" society
- No involvement from the government
- Hoover reassured by Thomas Lamont
- Ran on a "laissez-faire" society
- Nature of 'Banks'
- Impacts
- Banks became worthless
- Businesses had to shut down because they ran out of money
- Led to a downward economic spiral
- Americans disliked Hoover
- Set up "Hooverville" - homeless area
- Causes
- Probation
- Causes
- Alcohol suggested to take away fathers from families
- Spends money on alcohol, divorces, etc
- Crime and disease caused by alcohol
- Possibly because of people being drunk
- Alcohol suggested to take away fathers from families
- Key Terms
- Volstead Act 1920
- Amendment which made manufacturing/ selling of alcohol over 0.5% illegal
- Wets
- People against prohibition
- Drys
- People for prohibition. Anti-Saloon League was made up of Drys
- Speakeasies
- Illegal clubs that sold alcohol and moonshine (illegal whisky)
- Run by bootleggers (people that transported alcohol)
- Volstead Act 1920
- Why it failed
- Difficult to enforce
- Policing was underfunded & Law was inconsistent
- Bootleggers earned a lot of money
- People thought that the government had no place in their personal life
- Disliked in urban areas
- Difficult to enforce
- Causes
- Social Life
- Women's rights
- Got the vote in 1919
- Younger women became 'flappers' - drives a car, drinks alcohol, etc
- Able to influence Congress e.g. helped prohibition to be put in place.
- Discrimination
- KKK grew in membership - getting around 5 million people by 1925
- Blacks and immigrants were given the worst housing, jobs, etc in the North
- Jim Crow laws were in place in the south, segregating blacks and whites
- Culture
- Jazz pushed black musicians to fame
- Allowed them to fight discrimination in the south
- Many people went to watch movies in cinemas
- Made actors and directors famous e.g. Clara Bow
- People went to watch baseball
- Babe Ruth (American Baseball player)
- Jazz pushed black musicians to fame
- Women's rights
- Economic boom
- Did they benefit?
- Yes
- Leisure
- People spending more time on Leisure activities
- Motor
- Mass production and assembly lines
- Consumer goods
- Hire purchase encouraged people to buy
- Leisure
- No
- Coal
- Lost demand to oil & gas
- Agriculture
- Europe stop importing food because of US tariffs
- Leather & Tech styles
- Competition from man-made materials
- Coal
- Yes
- Affects
- Reduced demand for natural products
- Automation took place in farms - reducing workers
- More people tried to migrate to America, leading the US to close its borders.
- Causes
- Hire Purchases
- Working class can pay off over a long time
- Republican Policies
- "laissez faire" left businesses to do whatever they wanted
- Mass Production
- Reduced prices of goods
- Stock Market
- Shares increased in price from 1921 to 1929 by 800%
- Hire Purchases
- Did they benefit?
- Wall Street Crash
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