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The 1920s in the USA were regarded as a period of prosperity. This statement is true. However some people weren't:

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The 1920s in the USA were regarded as a period of prosperity. This statement is true. However some people weren't: * Farmers * The unemployed. The farmers were not happy because they were the second cause of depression. This was because new machinery meant farms produced more food in the 1920s than ever before. This combined with a slight drop in the population lead to a surplus of food. This caused food prices to drop and lower incomes for farmers. The simple response was for farmers to maintain their income by growing even more food. In effect this caused food prices to drop even further as did their incomes. Farmers then borrowed the money, which they were unable to pay back and as a result many of them were evicted. ...read more.


New industries 5. A state of mind Industrial Strength The USA is a vast country, rich in natural resources, with a growing population. It didn't need to import many raw materials and it didn't need to export all its goods. The home market was large and was growing. The First World War America had two enormous advantages as a result of the First World War: * They sold large amounts of arms, ammunition and food stuffs to their allies * They were able to capture many of the European markets from those countries involved in the War whose industries were producing Wartime goods. Republican policies The republicans introduced two measures designed to protect and encourage America industries. * Import duties these made it expensive to import foreign goods into America. ...read more.


glass, leather, steel, rubber, petrol, hotels, holiday resorts and hot dog stands! A state of mind Up to the 1920s thrift (being careful with money and saving for a rainy day) had been seen as a good quality. In the 1920 this was replaced by spending money. Spending money was a better quality. Many Americans came to believe that they had a right to prosperity, which is i.e. to fulfil the American dream and if it meant borrowing money then so be it. As spending was now a good quality Hire purchase credit was introduced. Credit HP systems "buy now, pay later." How HP works is you pay a deposit and over a matter of months you pay the rest off. The item you have brought does not become yours until you have paid it all off. If at one point you don't pay an instalment they will take it back off you and you would not get anything back. History Katie Tiddeman ...read more.

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