1890-1920 Economic Flashcards Preview

Year 12 History- USA > 1890-1920 Economic > Flashcards

Flashcards in 1890-1920 Economic Deck (20)
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1
Q

What % did manufactured exports rise between 1895-1900?

A

90%

2
Q

By which year was the USA a net exporter?

A

1913

3
Q

What was the ‘second industrial revolution’?

A

Shift towards ‘new’ industries

4
Q

What was discovered in the Mesabi Hills, Minnesota in 1892?

A

Iron ore

5
Q

Where was there a rush of farm settlers in the late 1880s/1890s?

A

Midwest (Tennessee Valley)

6
Q

Why was the initial homestead agricultural success so short lived? (until ww1)

A

The land was poor and suffered quickly from overproduction

7
Q

By 1900 how many US cities had a population of 100k or more?

A

38

8
Q

Where was there a major gold rush in the late 1890s?

A

Yukon

9
Q

When did McKinley officially put the USA on the gold standard?

A

1900

10
Q

1898 onwards, why did the West Coast ports like San Francisco become so important?

A

They were gateways to trading with Asia

11
Q

Who led the 1893 Great Northern Strike that forced railroad bosses to make concessions to workers?

A

Eugene Debs

12
Q

Why was there a Panic in 1893 followed by 3 years of recession?

A

Gold reserves fell and couldn’t support the economy

13
Q

Why was there a panic in 1907?

A

NY Stock Exchange dropped 50% due to the Knickerbocker Co. (3rd largest company in NY) collapsing

14
Q

Who put up millions to restore the economy in 1907?

A

J.P. Morgan

15
Q

Which US firm produced 5500 military locomotives and 6m artillery shells for Britain in ww1?

A

Baldwin Locomotive

16
Q

How did US financiers profit from ww1?

A

Selling goods to Allies/Loans to Europe

17
Q

give 5 reasons for the great economic growth seen between 1890-1920?

A
  • efficient production
  • vast natural resources
  • electricity
  • rep dominance= good for BB
  • world shipping access
18
Q

what % did exports grow by between 1908-13?

A

77%

19
Q

summarise the south?

A
  • limited urbanisation

- reliant on cotton/tobacco/sugar

20
Q

summarise the west?

A

isolated, reliant on eastern investment