How important were credit and hire purchase as reasons for economic growth in the USA in the 1920s?

There is no doubt that during the 1920s the USA was having a very big economic growth. There are many reasons to explain why this happened, but this essay will explore how far were credits and hire purchases important for the economy of the USA.

To start with, the difference between credits and hire purchases is very simple. People could borrow money from banks to make goods more accessible. They were able to take credits which were going to pay back later. On the other hand, hire purchases were a way of paying. People paid a fraction of the total price each month.

One of the most important things during the 1920s was the car industry. People could buy very easily a car because of hire purchases. Unlike Europe, cars were very common in the US society. Cars made it possible for people to move into the suburbs making cities to grow.

During the 1920s, shares were a very easy way of becoming rich. People bought shares, waited until their price rise and then sell them again. Usually they borrowed money which then they paid back with the profits. American banks lent $9 billion for speculating in 1929.

On the other hand we have the reasons that also helped in the economical growth in the 1920s. The Republican Party had some beliefs and policies that helped in the process. The government placed import tariffs to protect the USA industries from foreign competition, consequently the home market grew up. Furthermore, they thought that if people kept their money, they would buy goods instead of saving it, so they kept taxes very low.

Another way of making people buy, was by using advertisements. They encouraged people to buy even if they did not have the money they could borrow it. Moreover, industries had more methods to make goods cheaper, such as production lines. They used this method to speed up the production and make products more accessible.

As regards the US industry, we can say that it grew up after the First World War. Since the war did not drain the resources as it did with Europe, they bought to American companies, such as the chemical industries that outstripped Germany in the supply of it.

As a conclusion we can say that the US economy grew up because of all these reasons, among them credits and hire purchases, which were very helpful for poorer families. Although it was not the most important.

How important were Republican reactions to the Wall Street Crash as causes of Roosevelt's success in the presidential election of 1932?

In 1932, the presidential elections in the USA were taking place. Hoover and Roosevelt were the two main candidates, Hoover representing the Republican Party and Roosevelt the Democratic Party. The winner of the elections was Roosevelt. However, what are the causes of his success?

To start with, the Republican Party had their own policies which had a big consequence in the future. First, they believed that the government shouldn't interfere in the life of people, this was called 'laissez-faire'. Secondly, Republicans placed import tariffs to protect their industries from foreign competition and allowing American industries to grow. Finally they kept taxation low, since they thought that if people kept their money, they would buy American goods. In 1932, Hoover paid the price for being unable t solve the problems of the depression. In 1930 and 1931, he tried to restart the economy by tax cuts, he stopped some banks on going bankrupt and he tried to protect the US industries by introducing tariffs, however this made things worse. By this point, the reputation of Hoover was very damaged. Republicans did not interfere much on the economic prices by saying that it was not a major problem.

On the other hand we have Roosevelt, he believed in an 'active government', he planned to put people back to work, among other characteristics that he had. The campaign was a very important factor for the success in the elections. He made a tour through the USA weeks before the elections, he realized that people wanted action and he promised a 'New Deal'. Finally Roosevelt won by 7 million vote and democrats won a majority of seats in Congress.

To conclude, we can say that the main reason of Roosevelt's success in the 1932's presidential elections was that his main opponent, Hoover, had a very damaged reputation because of the lack of the Wall Street Crash in 1929, the lack of confidence he had and that Americans wanted a change.

Germany Timeline

In the class of History we had been working with the story of Germay. Here i have my time line, i did it with Francisco Cersosimo.

History Presentation

In the class of history, we made a presentation of what we remember from last year. In this presentation we are going to talk about: 

          Russia:

• Stalin
• Important people in Russian history

          USA

• The Vanishing of Americans
• The Monkey Trial

WWI

To know more of the WWI we did a Popplet about the Causes of the Industrial Revolution. We were divided in groups. I was with Felipe Rolon. We talk about the Short Term Causes and the Long Term Causes. We got information of a Google Drive that we did and photocopies that the teacher give us about the WWI

Russian Empire

Information of the Russian Empire:

Scientific and Technological