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- Created on: 23-12-14 14:49
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- How and why did the USA achieve prosperity in the 1920s
- Isolationism and its effects
- Reactions to the league
- Woodrow Wilson was a democrat but the rivals were Republicans. They opposed the league of nations and refused to join.
- Wilson lost the election in 1920 to Republican Warren Harding. He fought with the slogan 'America First.'
- Warren Harding
- He talked about returning to 'normalcy' as the idea of getting everything back to how it was before the war
- The USA started the 1920s politically isolated from Europe, with no treaty commitments.
- The policy was also taken up with foreign trade and immigration
- Republican presidents were in power through the 1920s and implemented different policies
- The policy was also taken up with foreign trade and immigration
- The USA started the 1920s politically isolated from Europe, with no treaty commitments.
- He talked about returning to 'normalcy' as the idea of getting everything back to how it was before the war
- Warren Harding
- Wilson lost the election in 1920 to Republican Warren Harding. He fought with the slogan 'America First.'
- Woodrow Wilson was a democrat but the rivals were Republicans. They opposed the league of nations and refused to join.
- American attitudes
- they didn't want their country involved in other disputes taking place far away
- they believed the USA would have to bear the cost of keeping peace
- Reactions to the league
- Tariff policy: the Fordney-McCumber tariff, 1922
- The American Government made sure that foreign goods didn't compare with their own goods
- This put a tariff on foreign goods and made them more expensive than the same American products
- The policy was intended to protect American industry and helped to create 'boom' conditions
- The tariff wasn't so effective in the long term as it encouraged foreign governments to retaliate and put tariffs on American goods
- Mass production
- USA before 1920
- Had grown steadily: huge resources (coal, iron, timber, oil), had a growing population, railways, mining and manufacturing
- Early years of ww1, profited from the war in Europe
- American industries supplied arms and equipment, American firms were able to take over much of the export business of the European powers whilst they were caught up in the fighting
- Techniques
- The profit of many American companies rose a lot. more goods were produced and at a quicker rate.
- Assembly line: Henry Ford, founded Ford Motor Company in 1903, the assembly line was created in 1914:
- A car could be produced in 1/10th of the time taken before, the price of cars came down, wages for production-line workers went up
- Consumer industries and advertising
- Sales of household goods such as vacuum cleaners became very popular and boosted the electrical industry
- Mail-order catalogues, billboards, newspapers, credit and hire purchase, advertisement
- USA before 1920
- Finance in the 1920s
- Hire purchase
- Paying a deposit, then paying off the rest in instalments
- There were low interest rates, the explosion in consumer demand helped factories expand and in turn meant more jobs were available. the economy was booming
- Many people got shares in businesses as investments. The prices of shares went up as demand increased.
- People were often using their houses as guarantees to buy the shares
- Buying shares on the margin
- Borrowing money from a bank
- Laissez Faire
- Not interfering in businesses (republican)
- Rugged individualism
- Individuals are responsible for their own lives not by receiving help from the government
- Hire purchase
- Developments in the entertainment industries
- Films became a national obsession, millions of Americans went to the cinema each week
- Buster Keaton, Charlie Chaplin
- Jazz, became a craze and the USA was the centre of the world entertainment industry
- Gramophone records helped jazz spread widely and quicker. Radio stations also increased popularity of sport
- New dances became popular, the Charleston, the tango but these were seen as being in conflict with more traditional dances
- Isolationism and its effects
- The USA started the 1920s politically isolated from Europe, with no treaty commitments.
- The policy was also taken up with foreign trade and immigration
- Republican presidents were in power through the 1920s and implemented different policies
- The policy was also taken up with foreign trade and immigration
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