By 1926, those earning an annual income of $1m paid less than a third of the tax they paid in 1921 → More money for the rich. 5. Contributed to a 50% increase in average disposable incomes between 1922 and 1929 6. National income soared from $480 per capita in 1900 to $681 in 2929 → affluence of the era. In addition to lower taxes, it called for spending cuts as a means to balance the budget and eliminate the public debt: 1.
Contributions to the Great West There are many components to the West that helps in the settlement of it. Those components including mining, cattle raising, and farming. Mining was very popular at prior to during this time period. The 49ers of California and the 59ers of Nevada led to even more gold digging in the 1860’s. Nevada became a popular gold digging location after the Comstock Lode had been uncovered and 340 million dollars worth of gold and silver had been found.
So they had to work for claim holders instead of mining themselves. In 1858, more and more miners started to move into the Fraser River area for more gold. By the end of the summer, more than 10,000 miners were at Fraser River working. Governor Douglas found out that the mining business was profitable, so he decided to build a road that connects to the goldfields. However, his decision was not clever.
B.C. was dependant on an increasing export of gold. However, this
Gold Rush Oklahoma Land Rush By 1840’s slowly but surely people were entering and moving into California. However, when, in 1848, gold was discovered up by San Francisco, it changed everything (). People began to flock to the area hoping to discover their fortune in gold. Towns began to spring up with thousands of new settlers entering the area. For years this continued even as resources became less and less.
Lobby = pressure group Huge Loans to Allies with high interest, making money Loans used to buy USA stuff 1/3 shells USA on Western Front Wages increased by 25%, therefore leading economy, replace Britain. Key issue: Strongest economy. Want political role with that? 1920/30s No thanks Only 115,000 casualties in final year Very Limited World Role 1. Democratic Wilson want major role – Versailles 14 points League of Nations – Collective Security Paris Peace conference 1919 2.
In The Trap of Gold, by Louis L’Amour, a man named Wetherton travels, and finds a mountain full of gold. However, if he is to mine the gold there is a possibility that the mountain may collapse on him. In “The Treasure of Sierra Madre”, a movie written by John Huston, Fred C. Dobbs and Curtin work with a man named Howard to mine gold for their own profits. On the way there and throughout the time that they are there they run into many troubles. When you compare the characters in “The Treasure of Sierra Madre” to the people from The Trap of Gold, they have a variety of similarities, like Dobbs and Wetherton’s greed, and even Howards and Wetherton’s wise words, but they also had differences, like the tone and aggressiveness towards ideas.
The problem with debt is there is an interest payment that must be paid. Using the above example, the country's benefit from the GDP minus the deficit was $800 billion but the interest on the national debt is $20 billion. The country loses another $20 billion from its GDP bringing the net to $780 billion. These losses affect every tax payer as more tax dollars go to pay for what the country loses in GDP dollars (The Spectrum Group,
News of gold spread very quickly. An old mountain trader named John Cantrell found a sack full of gold and spread news to Kansas City, Missouri of the event and other traders brought the news to New Mexico, Fort Laramie, and Kansas. Within a short amount of time before winter arrived, Cherry Creek had gained about one hundred new people. The first arrival of gold was on August 26, 1858, which had poor people sweeping in from Kansas City, Lawrence, St. Louis, Omaha and Leavenworth to jump on the chance of changing their
This monetary expansion increased globally which stemmed greatly from the gold inflow. The expansion of the monetary base stimulated spending by lowering interest rates and making credit more widely available. Due to expectations of inflation, potential borrowers became confident that their profits would adequately cover payments of a loan if they chose to borrow. Along with this, the United States also saw a rise in consumer and business spending. Due to the staggering amount of unemployed workers, Franklin Roosevelt issued the Workers Progress Administration under the New Deal.