American Industry In The 1920's

The 1920s saw a boom of economic opportunity and featured large scale domestic consumption and relatively new consumer product, which was good for American industry. The First World War, which had brought famine and revolution to some countries, such as Russia and Germany, France and Britain had actually enriched America; when peace came, the Americans found themselves as the economic leaders of the world. America had great amount of natural resources which provided the American industries with the materials they needed to create goods and services in mass quantities. By 1919 other countries owed United States almost twelve thousand million dollars for primary sources and food delivered. America had enormous resources in materials and human labour force and with a wide household market, was ready to take advantage of this situation.

The number of billionaires in the 1920s have jumped 400% over the previous decade. The 20s feeling of limitless horizons was fueled by their lavish lifestyle. A experience of Craig Mitchell whom was the banker during the boom time clearly showed that people were getting richer. "We had house in New York, and we use to come down to Southern Area in summer.. Everybody seemed to be having a good time"2 At Detroit, Henry Ford had developed mass-production techniques that promised abundance of goods for all. Between 1925 and 1929, United States industrial shares tripled in price. The First World War has promoted farming for export in America to feed the soldiers in