Definitions pt. 1
Flappers
A fashionable young woman intent on enjoying herself and ignoring conventional standards of behavior.
What was Warren Harding offering in his presidential campaign? Why was President Harding’s presidency shrouded in scandal?
Promised return to normalcy after Wilson, Progressives, and WWI. Harding’s presidency was surrounded by scandals (Friends did illegal things – sold gov’t jobs, contracts, pardons, etc.).
This color was actually named after the fruit, rather than the fruit being named after the color.
Orange
Why was the stock market soaring in the 1920s?
"Bull Market" economy; Consumerism + Mass Production
An American industrialist and businessman, known for using the assembly line to make cars accessible for the middle-class.
Interest
Money given for borrowing.
Why was there growth in consumer goods, yet prices stayed low?
The assembly line and mass production created more and cheaper goods.
This quarterback holds the NFL record for the most Super Bowl wins as a player, with seven titles.
Tom Brady
Why was Herbert Hoover more popular than Alfred Smith? How was Herbert Hoover’s attitude in his campaign a reflection of society’s overconfidence?
Was apart of the 1920s gov't (successful) and wasn't Catholic. Overconfidence.
Nativism
The policy of protecting the interests of native-born or established inhabitants against those of immigrants.
Margin Call
A broker demanding that an investor pays their loan immediately.
What were some aspects of the new culture that existed in the 1920s? How did old values clash with “new morality?”
Consumerism, Personal Freedom, Pop Culture, etc. Old values saw this as hurting society, turned to religion, old traditions, etc.
These two legendary franchises share the record for the most NBA titles in history.
Boston Celtics & L.A. Lakers
How did stock market practices change between the early 1920s and the late 1920s?
Early in the 20s, stock prices reflected the stocks’ true value based on how a company was doing. Late 1920s: people engaged in speculation (buying stocks without considering earnings/profits of company – betting that prices will continue to climb so you could make a quick buck [artificially manipulating the market]). It inflated the value of stocks…without the value actually increasing
Speculation
Buying stocks without considering earnings/profits of a company – betting that prices will continue to climb so you could make a quick buck (artificially manipulating the market).
The Lost Generation
A group of people who had lost hope for the consumer society after WWI and felt isolated from the rest of society.
What was the Harlem Renaissance? Why was it called a “renaissance?”
1920s, African Americans began moving to the north. Set up their own neighborhoods. Promised "new hope" for African Americans.
This is the only continent without deserts.
Europe
What were banks doing before the Crash of 1929? What happened to banks after the stock market crashed?
Banks were doing two things: 1) loaning out money to speculators and 2) invested depositors’ money in stock money (make more money than giving out loans).
Stock market collapsed
1) banks lost money on investments
2) people couldn’t repay their loans
3) banks limited money people could borrow
4) people wanted their money out of the banks (bank runs)
Fundamentalism
Coming from a rejection of the consumer society of the 1920s, a return to the Bible for living.
Washington Conference
A treaty signed by the major naval powers of the 1920s that halted ship building for 10 years in 1921.
What was the Dawes Plan of 1924? What problem did it fix?
Plan made by the U.S. to help establish a new trade system for struggling European nations, fixing the problem of lack of wealth among nations after WWI. U.S. loaned Germany money, Germany paid back the Allies, the Allies paid back the U.S.
The Titanic sank in this year.
1912
List and explain the six main causes of the Great Depression.
1) Low interest rates – Fed. Reserve kept interest rates low (companies borrowed and expanded more than necessary thinking the economy was still expanding)
2) High tariffs - Europeans going through recession, can’t afford American goods
3) Speculation - low interest rates encouraged more speculating (banks and people)
4) Uneven distribution of wealth – not enough people could afford the goods (People didn’t buy [too broke] or they did [on installment plans])
5) Overproduction of goods
6) Falling demand - Market was saturated with products…fewer sales (Fewer sales = less production = laying off employees)
Kellogg Briand Pact
Signed by the U.S. and 14 other nations, a treaty that tried to outlaw war in 1928.