Causes of the Boom

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  • Republican Policies
    • Isolationism
      • Tariffs
        • Emergency Tariff Act
          • May 1921
        • Fordney-McCumber Tariff
          • 1922
          • Tax on foreign goods
            • European countries set retaliatory tariffs on US goods
          • Usually around 40%, but sometimes up to 400%
      • Immigration
        • Literacy Test
          • 1917
        • The Emergency Quota Act
          • 357,000 Immigrants per Year
          • 3% of existing population in US in 1910
          • 1921
        • National Origins Act
          • 150,000 Immigrants per Year
          • 2% of existing population in US in 1890
          • Restricted Asian and East Europeans
          • 1924
    • Laissez-Faire
      • Government didn't interfere with businesses
    • Lowered Taxes
    • CAUSES OF THE BOOM - LACKPANTS
      • WW1
        • Had joined WW1 in 1917
        • Made money selling goods to other countries + loaning them money
      • New Developments
        • Assembly Line Production
        • Advertising
          • Hire Purchase
        • Consumerism State of Mind
          • Share Confidence
            • Buying on Margin - Paying 10% Only

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