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Open Door Policy
The United States proposed the Open Door Policy, which would allow each country to have equal trading rights with China. It said that China should collect taxes on trade, and that each country should be allowed access to trading ports. However, it was ignored by several major world powers. -
Model T
The Model T was patented in 1908. It was invented by Henry Ford. The Model T was the first car thst was affordable for a majority of Americans. Between 1908-1927, 15 million Model T cars were manufactured. Ford also used assembly lines at his factory which created more job opportunities. -
Dollar Diplomacy
Dollar Diplomacy was very popular during Taft's presidency. The united States would loan money, most commomly to Latin America. With the loan deal, the United States had the right to militarily intervene with any conflicts if they saw it to be fit. -
16th Amendment
The 16th Amendment allowed for the United States government to tax income. This brought in more government profits. Several people during this time period thought income tax was a great idea. -
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Prohibition
The Prohibition mad the sale, production, and transportation of alcohol illegal in the United States. Mobs and rum runners made an immense profit from alcohol and speakeasies, while the United States government was losing money because they could not tax the illegal alcohol. The prohobition was later repealed by the 21st Amendment. -
Buy Now, Pay Later
In the 1920s, buying things on credit was very popular, especially among the middle class. People generally bought large ticket items of credit, the most common item being automobiles. Many Americans during the 1920s believed that the stock market and United States economy was invencible and people were urged to buy. This will eventually lead to the Great Depression. -
Banks Close
After the stock market crash. Several people attempted to withdrawl their money from banks. Many were not able to do so because the banks had run out of money. As people withdrew their money and lost their trust in banks, several shut down. -
Stock Market Crash
The stock market crash was the turning point from the roaring 20s to the Great Depression. Stocks were in great excess of their value. Billions of dollard were lost and there was a significant decrease in the amount of inversors. -
FDR 100 Days
Early into Franklin D. Roosevelt's presidential term, he pushed through several pieces of legistlature to help pull America from the Great Depression. during the 100 Days, FDR pushed through 16 acts. -
Dust Bowl
The Dust Bowl was a severe dust storm that started in the great plains region and stread east. The dust came from the over-tilled top soil from farms and it damaged the ecology and economy. Farmers of the great plains region were no longer able to farm, which meant not enough crops were produced and they lost jobs. Many farmers from this region migrated westward to California to search for jobs and opportunities.
