HIST-UA 9 Lecture Notes - Lecture 5: Palmer Raids, Agricultural Adjustment Act, Scopes Trial
Document Summary
100% americanism - celebrated all things american while it attacked ideas and people that were foreign. A response to the growing influx of foreign immigrants throughout the 1920s. Restricted agricultural production in the new deal era by paying farmers subsidies not to plant part of their land and to kill off excess livestock. Its purpose was to reduce crop surplus so as to effectively raise the value of crops. Bank runs - banks could no longer meet the demands of their depositors. People rushed to withdraw money at the same time, since they were losing confidence in the banking system. This accounted for a shrinking money supply, as circulation of currency slowed. Birth of a nation - movie released in 1915 that helped spark interest in the racist ideology of the kkk. Buying on margin - purchasing stock with a little money down with the promise of paying the balance at some time in the future.
