Economic History of the U. S. Econ 1740, Class Time Line. Part 1: The Colonial Era; 1607 – 1776



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Recession


In 1937 things began to improve but then the process suddenly stopped when prices reached a high and everything fell and deflation began again while unemployment increased.


Electric appliances


In 1920 electric appliances such as ranges vacuum cleaners radios and refrigerators began to fill the American home although only 8 percent of American families had mechanical refrigeration by 1930 the days of the "ice man" were numbered


1st Commercial Radio Broadcast


In 1920 KDKA, a radio station in Pittsburgh became the first to broadcast commercially. This is important because it was a building block to radio broadcasting today.


Assembly line


Before having some stiff competition with General Motors Henry ford introduced the first moving assembly line which helped him with the mass production of low cost automobiles. Soon leading to improved models that incorporated the self-starter, the windshield wiper, and improved brakes.

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Warren G. Harding elected President


In 1921, Warren G. Harding became the 29th President of the United States in the first election after the 19th amendment was passed, which allowed women the right to vote.

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Joint Commission of Agriculture Inquiry


An inquiry performed by congressing resulting in the discovery that the farming troubles occurring stemmed from the general business decline and decrease in exports during this time. Possible solutions to the problem involved improving the credit available to farmers and research findings provided by the Department of Agriculture.

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Enforcement of Prohibition


In 1920, the 18th amendment was passed and the sale, transportation and importation of alcohol became illegal in the United States. Although actual consumption of alcohol decreased in the country, homicide and crime went up because of gang’s illegal activity of “bootlegging” alcohol. Alcohol remained illegal until the passing of the 21st amendment in 1933 that repealed the 18th amendment.

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Federal Highway Act of 1921


The act amended the original law by requiring the secretary of agriculture to give preference to states that had designated a system of highways to receive federal aid.


 Emergency Immigration Act of 1921




Restricted the number of people to be ad- mitted each year from any country to 3 percent of the number of people of that nationality residing in the United States in 1910.




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Herbert Hoover appointed Secretary of Commerce


In 1921, Herbert Hoover was appointed Secretary of Commerce under President Harding and eventually President Calvin Coolidge. During his time as Secretary, he created many sub-departments such as census, radio and air travel and also reached to forge partnerships between government and business, which created the philosophy of “associationalism”.


Joint Commission of Agricultural Inquiry created


In 1921, Congress created the Joint Commission of Agricultural Inquiry which reported and tried to fix farm troubles that were caused by general business depression and decline in exports. Throughout the 1920’s, these bills aimed to secure “parity prices” and sought to determine a fair exchange value for farm products.



Capper-Volstead law


Exempted farmers’ cooperatives from the threat of prosecution for violation of antitrust laws.


National Agriculture Conference


The National Agriculture Conference was convened by Henry C. Wallace, in order to produce a new approach to address the problems concerning agriculture. The idea of “parity”, meaning agriculture was to be entitled to its fair share of the net income if the ratio of prices farmers received to the prices they paid was consistent with the ratio that occurred from 1910 to 1914, was the chosen angle by the deciding parties of the conference.

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