Amazing facts about America in the 20’s; Motor Industry
A car could be produced from scratch in 93 minutes Wages went up for workers as over a million cars a year were sold Wages of production line workers went up – A Model T could be afforded after 3 months of working 4 million people relied on the motor industry
Mass Production
Industrial production doubled during the 20’s. Rayon transformed the synthetic industry – it mushroomed in size The number of telephones doubled in 10 years The construction industry boomed. 20 storey skyscrapers were replaced by 60 storey. Cities copied New York Mass production techniques produced vacuum cleaners, washing machines, typewriters, phones and radios.
Wealth and Advertising
New chain stores like Woolworths appeared By 1929 200 companies owned 20% of Americas wealth. They bought up smaller businesses and got bigger Electric light and power companies prospered. By 1930 just 10 companies controlled 72% of the country’s electrical power Advertising became popular – billboards, mail order catalogues, newspapers, and on radio
Stock Market
Share prices went up 300% between 1919 – 1929 People “borrowed” money to invest in shares, often putting their house up as guarantee Banks loaned more money than ever before, sure they would get it back The Government let business get on with making money and only taxed lightly