10-27-10 History Notes

10-27-10 History Notes - 10/27/2010 History 123 Notes The...

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10/27/2010 History 123 Notes The Great Depression THE UNITED STATES The “Roaring 20’s” in the US was a great time and for most people it was considered a time of growth and was a good thing except for the farmers. Farmers thought agricultural prices would rise but instead they were very low and forced many farmers to foreclose on their land. The roaring 20s led to a rise in a new culture as well: RADIO. The first two radio stations came out of Pittsburgh and Detroit in 1920. By 1922, there were 500 radio stations across the country. With the rise of the radio culture, a company was established: NBC (National Broadcasting Company) in 1926. The 3 note chime that NBC is now known for was originally created by an Atlanta station and NBC decided to use it for all of their programs so they applied for an audio trademark and received it. This was the first audio trademark ever. NBC became the a national corporation and would broadcast the same programming across the country at the same time. In 1940, the FCC (Federal Communications Commission) decided that NBC was a radio monopoly and ordered them to break up unto 2 companies. NBC stayed as is. In 1943, ABC (American Broadcasting Company) was founded. In 1927, CBS was founded as well. Not only was there a growth in culture but there was a growth economically as well. This economic growth made American confident and positive. Hoover said that America was closer than ever to eliminating poverty. This growth, people believed, was permanent which caused Americans to get too confident with their money. There was a land boom in Florida (due to easier access) and it was an easy get rich quick scheme.
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People bought land in Florida for cheap and then waited for the price to rise before they sold it for a profit. Cars were also becoming a hot commodity since they were becoming more affordable and more prominent. Florida was not the only “Get rich quick” scheme. The stock market was also another way for people to make a good profit. Prices in the stock market rose during the 20s and more and more people were buying stocks and getting foolish with their money in order to do so. People would go to banks and get out loans to invest in the stock market and invested all of their life savings into the stocks. While people were gambling away their money, they were ignoring the problems
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This note was uploaded on 02/11/2011 for the course HIST 123 taught by Professor Carney during the Fall '10 term at Ohio University- Athens.

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10-27-10 History Notes - 10/27/2010 History 123 Notes The...

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