Declining Industries

Niamh MacElvogue
Mind Map by Niamh MacElvogue, updated more than 1 year ago
Niamh MacElvogue
Created by Niamh MacElvogue over 5 years ago


Edexcel iGCSE history

Resource summary

Declining Industries
1 Railroad Industry
1.1 made less popular by the growth of car industry and road travel
2 Crisis of Overproduction
2.1 European economies began to stabilise the beginning of the 1920s
2.2 Tariffs introduced by Europe in retaliation so farmers couldn't export produce
2.3 Demand had fallen
3 Textiles Industry
3.1 Tariffs low on foreign cotton and wool
3.2 Hard for US producers to compete
3.3 Almost 3x less fabric needed by 1928 for dresses because of changing fashions
4 Coal Industry
4.1 oil, gas and electricity more common
4.2 Average wage of a miner - $100 Average wage of a bricklayer in NY - $300
4.3 early 1920s - c. 12000 mines but many closed down, c. 200,000 miners, 1000s made redundant
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