Final answer:
In the early 20th century, 'floating palaces' referred to riverboats or showboats used as traveling entertainment venues. They had a significant impact on Memphis audiences, performers, and the local economy.
Step-by-step explanation:
In the context of the question, a 'floating palace' refers to riverboats or showboats that were used as traveling entertainment venues in the early 20th century. These boats hosted a variety of performances such as plays, concerts, and vaudeville shows. They had a significant impact on Memphis audiences, performers, and the local economy.
For audiences, the floating palaces provided a unique form of entertainment that traveled along the Mississippi River. People from different social classes could attend these shows, with different seating areas available for the wealthy, middle class, and commoners. The performances on these riverboats offered a break from the daily routine and brought a sense of excitement and novelty to the audiences.
For performers, the floating palaces provided a platform to showcase their talent and reach a broader audience. They could travel from one city to another, performing in front of diverse crowds and gaining valuable exposure. This allowed them to expand their fan base and potentially advance their careers.
In terms of the economy, the presence of floating palaces in Memphis brought economic benefits to the city. The boat shows attracted large crowds, which in turn boosted local businesses such as hotels, restaurants, and shops. The influx of visitors spending money in the city provided a much-needed boost to the local economy.