Us History Extra Credit. Roaring 20's
Step 1:
1920-Harding becomes president
1923-Harding Dies- Coolidge Becomes President
1924-McNary-Haugen Bill-Helped the farmers by buying surplus
1924-Dawes Act- Helped Germany with reparation, and provided loans
1926-Agriculture Marketing act- Established the Federal Farm Board, and assistance to Farmers.
1928-Hoover becomes president
1929-Black Tuesday-the price of stocks completely collapsed, and roaring 20’s came to a halt
1930- Hawley-Smoot Tariff- raised U.S. tariffs on over 20,000 imported goods to record levels.
1931-Muscle Shoals Bill- designed to build a dam in the Tennessee River and sell government-produced electricity
1932-Bonus Expedition Force/March- Marches on DC to receive Veterans Bonus, Hoover sends in Troops
Step 2:
1: Overexpansion of Credit
2: Unregulated banking practices
3: Stock market speculation and crash
4: Mal-distribution of income and purchasing power
5: Automation
6: Over expansion of agricultural production
7: Overproduction of industry
8: Philosophy & policies of Hoover administration
9: American tariff policy
10: Impact of European & world economy
11: Monopolistic pricing
Step 3:
In the roaring 20’s many American’s lived beyond their means. About 60% of the population lived at or below poverty level but this great new idea of lending people credit so that they could get things now and pay for them later. Many American took advantage of this. The car industry became the number one industry in the country as people started borrowing money. The problem with banks lending this money was that there were no safeguards in place. The banks had not yet learned the importance of security and collateral. They had also not yet learned the importance of limiting the amount of money they leant and to who they would lend to. During the Great Depression more than 9000 banks closed and millions of people lost their life savings. When the banks closed people became scared and stopped spending as much. The drop in
1920-Harding becomes president
1923-Harding Dies- Coolidge Becomes President
1924-McNary-Haugen Bill-Helped the farmers by buying surplus
1924-Dawes Act- Helped Germany with reparation, and provided loans
1926-Agriculture Marketing act- Established the Federal Farm Board, and assistance to Farmers.
1928-Hoover becomes president
1929-Black Tuesday-the price of stocks completely collapsed, and roaring 20’s came to a halt
1930- Hawley-Smoot Tariff- raised U.S. tariffs on over 20,000 imported goods to record levels.
1931-Muscle Shoals Bill- designed to build a dam in the Tennessee River and sell government-produced electricity
1932-Bonus Expedition Force/March- Marches on DC to receive Veterans Bonus, Hoover sends in Troops
Step 2:
1: Overexpansion of Credit
2: Unregulated banking practices
3: Stock market speculation and crash
4: Mal-distribution of income and purchasing power
5: Automation
6: Over expansion of agricultural production
7: Overproduction of industry
8: Philosophy & policies of Hoover administration
9: American tariff policy
10: Impact of European & world economy
11: Monopolistic pricing
Step 3:
In the roaring 20’s many American’s lived beyond their means. About 60% of the population lived at or below poverty level but this great new idea of lending people credit so that they could get things now and pay for them later. Many American took advantage of this. The car industry became the number one industry in the country as people started borrowing money. The problem with banks lending this money was that there were no safeguards in place. The banks had not yet learned the importance of security and collateral. They had also not yet learned the importance of limiting the amount of money they leant and to who they would lend to. During the Great Depression more than 9000 banks closed and millions of people lost their life savings. When the banks closed people became scared and stopped spending as much. The drop in