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  • Created by: craig
  • Created on: 31-12-12 19:45
WHAT DID PRESIDENT WILSON DO IN 1921 ???????
HE INTRODUCED AN EMERGANCY TARIFF ACT. THIS INCREASED THE IMPORT DUTIES ON WHEAT, SUGAR, MEAT, WOOL AND OTHER AGRICULTURAL PRODUCTS FROM EUROPE
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HOW MANY PEOPLE WERE EMPLOYED IN THE FARMING INDUSTRY DURING THE FIRST TWO DECADES OF THE TWENTIETH CENTURY
ABOUT 30 MILLION PEOPLE
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WHAT IS LAISSEZ FAIRE
THE GOVERNMENT LEFT PEOPLE ALONE TO ACT FREELEY AND SORT THEIR OWN PROBLEMS OUT. THE FEDERAL GOVERNMENT THOUGHT BY NOT GETTING INVOLVED WITH THE ECONOMY THE MARKET WOULD SORT EVERYTHING OUT
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OVERPRODUCTION
BY 1929 USA INDUSTRIES WERE RUNNING OUT OF CONSUMERS DUE TO OVERPRODUCTION AND THEIR WAS A GROWING SURPLUS OF MANNUFACTURED GOODS AND MANY CAR WORKERS WERE UNEMPLOYED
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ECONOMIC WEAKNESS
60 PERCENT OF FAMILIES COULD NOT AFFORD CONSUMER GOODS. MANY WHO DID BUY BOUGHT ON HIRE PURCHASE. THE RICHEST SOON HAD ALL THE CONSUMER GOODS THEY WANTED
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SPECULATION
AS USA INDUSTRIES BOOMED COMPANY SHARES WENT UP AND PEOPLE WERE ENCOURAGED TO BUY SHARES BASED ON THE CONFIDENCE THAT PRICES WOULD RISE.
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Card 2

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HOW MANY PEOPLE WERE EMPLOYED IN THE FARMING INDUSTRY DURING THE FIRST TWO DECADES OF THE TWENTIETH CENTURY

Back

ABOUT 30 MILLION PEOPLE

Card 3

Front

WHAT IS LAISSEZ FAIRE

Back

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Card 4

Front

OVERPRODUCTION

Back

Preview of the front of card 4

Card 5

Front

ECONOMIC WEAKNESS

Back

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