The Cause Of The Economic Boom In The 1920's

1184 words - 5 pages

The Cause of the Economic Boom in the 1920's

By the end of the First World War America was regarded as the most
powerful and richest country in the world. In the 1920´s the United
States economy was booming. This was a period of prosperity, when the
country's economy was doing well and some of the people were sharing
in it. A long-term cause of the American boom in the 1920´s was
America's natural advantage and regional diversity. The South was
mainly used for farming but also had large amounts of oil. The North
of America and the East Coast were the richest parts of America
because there was lots of industry, business and many new factories
were being built providing new jobs. This large area of farmland and
industry provided for all the food America needed and all the products
that the American people needed which meant that America did not need
to import any goods from outside the USA, to further discourage this
and keep prosperity increasing in the US, the Government imposed
tarrifs on imported goods. The main turning point of the boom was the
First World War and American Isolation. In the First World War America
lent millions of pounds to countries like Britain they would then be
paid back with interest on top of the original money. America also
exported many of its good and products such as munitions and natural
resources which it had lots of to Britain and France. This was a one
way trade system and it gave a real boost to American industry.
America got rich while the European countries were busy fighting.
America took over British and French markets. America also took over
German markets, before the war Germany was the world's largest
chemical producer of dyes and fertilizer however after the war the USA
had replaced Germany of this title. America was only able to do all
these things as the country was rich and full of resources. America
did not suffer any damages in the war (apart from loss of military
lives) whereas it's business rivals such as Britain suffered hugely.
There was a huge rise in production at this time. There were many
important short term causes as well as the obvious long term cause and
turning point that contributed to the boom. One short-term reason for
the boom was the policy of the Republican Party. From 1920 to 1932 all
the US presidents were Republican. Republicans believed that the
government should interfere as little as possible in the everyday
lives of the people. When the Republicans came to power they
introduced tariffs, this made it expensive to buy foreign goods. The
tariffs protected US businesses from competition. The Republicans kept
taxation as low because of this everybody had more money and they
would buy American goods (because they were cheaper) or invest it in
the American economy. The Republican attitude was to interfere as

Find Another Essay On The Cause of the Economic Boom in the 1920's

Agriculture and the 1920's Boom Essay

848 words - 3 pages Agriculture and the 1920's Boom In the 1920's, farmers and people alike were struggling to keep up with the highly efficient Canadian wheat producers. Many European countries suffered great bankruptcy from World War one and could no long afford to ship things like grain to they're countries. To add to this, the American population had been gradually falling so there were fewer mouths to feed. New machinery and

Why did the American economy experience a boom in the 1920’s?

1083 words - 4 pages Daniel Akhmetkhanov 15th September 2014Why did the American economy experience a boom in the 1920's?The American economy experienced a boom due to 5 major reasons. These included America itself, the First World War, new ideas and industries, Republican policies and American state of mind.America's was a large sprawling nation with an ever-growing population. Leading to a big market of goods being produced, furthermore America's size meant that

The Economic Boom of the 1920s

743 words - 3 pages discouraged their interference in the lives of the population. The government kept taxation low, trusting in the wealthy to invest their wealth back into industry and the economy, and raised tariffs to protect the massive domestic market from foreign competition (Walsh 187), in accordance with the Isolationist policies of 1920’s USA (Walsh 183). All of these factors combined in the 1920s to propel the United States into nearly a decade of industrial and

Canada in the 1920's

1937 words - 8 pages parliament had the right to make their own decisions for themselves for all issues, domestic and foreign.During the period of 1927-1929 the first ambassador was appointed to the U.S., and also joined the league of nations. By 1929, Canada had embassies in Paris and Tokyo.In the 1920's , relations between Canada and the U.S. grew closer. Although they had been allies since 1917 (when the U.S. entered the war), trade increased between the borders, as

Prohibition in the 1920's

2087 words - 8 pages . There are people on both sides of the fence, though. Some are for, while others are against. Smoking in certain places and gun control can also relate to this topic. Prohibition was of great importance in the 1920’s and also in today’s time. Any action occurring now can affect the future in so many ways. An excellent example of this is the Prohibition Act. It may have seemed so insignificant at the time to some people, especially to those who

Race In The 1920's

1647 words - 7 pages Race in the 1920's Kyle Pappalardo AMH 2020 2/24/02 The most important point that Nella Larsen's Passing illustrates about race in the 1920's is, that race at this time in history is by far still the greatest factor dealt with by society in America. The fact that black people would hide their own identity in an attempt to "pass" as white to get ahead is an ideal representation of race at this point in history. Plessy v. Ferguson was

Entertainment in the 1920's

1073 words - 4 pages Imagine a time without television, movies, cars, or basketball. At the end of the 19th century these inventions, taken for granted in today's society, were just making their first appearances. Thomas Edison created the kinetoscope in 1894, and American's saw their first moving picture. A few years later, Thomas Arnat came out with his "Vitascope", the best-designed projector thus far. It allowed Edison's movies to be seen by a room full of

Technology of the 1920's

1145 words - 5 pages Numerous inventions were developed in the 1920’s. Some are still used today, but others have become obsolete. Many modern-day household appliances, weapons, medications, and prepared food items had their basis in designs from this era. This technology contributed to economic prosperity and improved American lives in every conceivable way. The first major invention was the commercial radio channel. In 1920, the Pittsburgh company KDKA broadcast

Music Of The 1920's

1540 words - 6 pages Megan Will Mrs. Fettig English 10B 1 March 2001         From the mournful melodies of the blues to the soulful sounds of jazz, the development of music in the 1920’s truly defined music as we know it today. The twenties, with their own glamour and pizzazz, gave music a newfound freedom to grow and prosper. America was credited as the “home of the jazz”, and names of influential American musicians were known from the Louisiana bayous to

Inventions of the 1920's

1711 words - 7 pages inventors, the reason these great inventions worked, included many average men. Some of the top inventors of the decade included: Carl Eliason, John Larson, Earle Dickson, John Taliaferro Thompson, and Alexander Fleming (All sources). These inventors worked hard to make life enjoyable and safe, and in the 1920’s many great inventions were born; some of these inventions included the television, band aid, penicillin, Thompson sub-machine gun, and

The Effects of Music in the 1920’s

1269 words - 6 pages After the first world war there were many changes to the way Americans lived their lives. During this time industry boomed and unemployed people now held jobs. The economy was growing, people were making money which allowed more time for leisure. In the 1920’s came a new era of music called jazz. Jazz changed writing, fashion, the way people spent their free time, it changed peoples thoughts and attitudes towards life and towards racial

Similar Essays

The Economic Boom In America In The 1920's

1485 words - 6 pages The Economic Boom in America in the 1920's The decade of the 1920s, or as it was called by its contemporaries, "The New Era," was marked by prosperity and new opportunity in the aftermath of World War I. The war began in Europe in 1914, and the United States entered the fray in 1917. A significant reason for United States involvement in the war was the nation's economic links to the Allied Powers, and especially to

Causes Of The Usa Boom In The 1920's

1686 words - 7 pages Causes of the USA Boom in the 1920's In the 1920’s America had a colossal boom in industry, most called this the ‘Age of Excess’. From 1921 to 1929 the USA gross national product was increased by over thirty billion dollars. This sudden change in economy occurred for a number of reasons and helped the USA gain its current title as a global superpower. The main cause for the boom in America was WW1. The allies just

Boom Of The American Economy In 1920's

1645 words - 7 pages Boom of the American Economy in 1920's The US economy experienced a boom from 1923 for a multitude of reasons, none of these reasons are solely responsible for the "boom", however as I hope to explain they did influence the economy in order to maintain the boom. The plethora of interconnecting factors include natural resource, the impact of the World War One (1914-1918), Republican polices, new technologies coupled

The Reasons Behind The 1920's Boom

1761 words - 7 pages The Reasons Behind the 1920's Boom Introduction: This essay will mainly examine the main reasons for the boom of America in the 1920s. Boom can be referred to as the increase in economy, industry, population and different other factors. Moving out of the poor lands of Europe and Asia, there was a place found at last where one could find Happiness or more precisely MONEY. This glorious land was the 'richest country in