THE ROARING 20S 1920 1929
1920S AMERICAN CULTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Russian confiscation of Western properties.
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loans owed to Europe by the U.S.
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loans owed to Germany by France and England.
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war debts and reparations.
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Detailed explanation-1: -Stock prices collapsed first, by the end of 1919. The downturn in wholesale prices came 6 months later. By the autumn of 1920 a severe industrial depression had developed. Factory employment dropped 30 percent from March 1920 to July 1921.
Detailed explanation-2: -The economy was mired in recession in 1914 and war quickly opened up new markets for American manufacturers. In the end, World War I set off a 44-month period of growth for the United States and solidified its power in the world economy.
Detailed explanation-3: -But most embarrassing of all was the punitive peace treaty Germany had been forced to sign. The Treaty of Versailles didn’t just blame Germany for the war-it demanded financial restitution for the whole thing, to the tune of 132 billion gold marks, or more than $500 billion today.
Detailed explanation-4: -The Treaty of Versailles (signed in 1919) and the 1921 London Schedule of Payments required Germany to pay 132 billion gold marks (US$33 billion [all values are contemporary, unless otherwise stated]) in reparations to cover civilian damage caused during the war.