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Isolationism 2 - more depth The Wall Street Crash
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The "Roaring Twenties" Most Americans were unconcerned about the dark side of life. They were
too busy enjoying the prosperity of the 1920s. American industry had expanded
during the Great War, making weapons, uniforms, equipment etc. This expansion
continued after the war, helped by America's massive reserves of raw materials
and by high tariffs (import duties on foreign goods).Tariffs made foreign
goods dearer, so American goods were bought. Some industries were also
given subsidies (cash support), which increased their profits. So there
was a boom(economic expansion). Things to ask yourself: Why was America prosperous in the 1920's? So most Americans enjoyed a high standard of living. Food was plentiful and cheap thanks to the vast quantity produced on American farms. More and more people bought their own houses through mortgages. They filled them with all kinds of consumer goods and parked their new cars in the garage. But the "Roaring Twenties" was also the great age of popular entertainment. In the theatres and "speakeasies" (secret, illegal bars) , people were entertained by "vaudeville" acts (music hall) , singers and jazz and dance bands. The period is often called the "Jazz Age". Radio stations mushroomed all over America, the programs being paid for from advertising. But above all it was the age of the cinema. (By the end of the 1920s 100 million cinema tickets were sold each week.) Thousands of black and white silent films were made in America in the 1920s, especially in Hollywood, which became the capital of the industry. Actors and actresses like Charlie Chaplin, Mary Pickford and Rudolf Valentino became "stars" and were known all over the world. By the end of the 1920s sound and colour had been successfully added on a small scale. In 1928 the first "talkie" was made called "The Jazz Singer", starring Al Jolson. Many people had enough spare cash to invest in stocks and shares. They often made a lot more money, because as industry's profits went up, so did the price of shares. This is called speculation and an increasing number of people tried it, often using borrowed money. As we shall see the price of shares eventually began to fall and then collapsed, leaving many bankrupt. Things to ask yourself:
What were America's main problems in the 1920's?
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Recommended Books related to the History of the United States
SchoolsHistory.org.uk highly recommends these sites:
Schoolhistory.co.uk - fantastic range of interactive games, revision materials and links.