America 1920-1973: The Great Depression

Question 1

What 5 things led to the Wall Street Crash?

Answer 1

. Inequalities of wealth
. Mass production
. Overconsumption
. Problems abroad
. Panick selling of shares
. Lack of confidence

Question 2

On 24 October ____, __ million shares were sold on the New York Stock _________ on Wall Street. This was nearly _ times as many as on a normal day and share prices in most companies continued to drop. This is known as ‘Black ________’ or the ‘Wall Street Crash’.

Answer 2

1. 1929
2. 13
3. Exchange
4. 5
5. Thursday

Question 3

What occured after ‘Black Thursday’?

Answer 3

After Black Thursday, another panic to sell shares erupted and an additional 16 million shares were sold. Shareholders lost $8 billion.

Question 4

Why did the banks go bankrupt during the panic?

Answer 4

Many Americans borrowed money from the banks to buy shares but now that they had no shares to pay the loans back, banks went bankrupt.

Question 5

In 1929 alone, how many banks went bust?

Answer 5

659

Question 6

How were buisness men and their workers affected by the Great Depression?

Answer 6

. Overproduction and underconsumption led to factory owners cutting wages and production
. Once unemployment grew and factories closed, local buisnesses were effected too

Question 7

What were the effects of many farmers not being able to pay back their loans or mortgages?

Answer 7

By 1932, 1 in 20 farmers had been evicted.
. Both poor farming and drought turned the land into a ‘Dust Bowl’ making it impossible to farm.

Question 8

Were the rich effected by the Great Depression as much as the ordinary shareholders?

Answer 8

No, some rich people lost part of their wealth to shares or owned factories that had to close but many owned property and unaffected land.

Question 9

Around __ million people had lost their jobs by 1932, nearly __% of the labour force. By 1932, _____ companies had closed.
Factory production dropped by __% and house-building fell by 80% between ____ and 1932.

Answer 9

1. 13
2. 25
3. 20000
4. 45
5. 1929

Question 10

What were hoovervilles?

Answer 10

Settlements consisting of shacks built with oxes, scrap metal and old cloth, where many took to living on the street.

Question 11

What was known as a hobo?

Answer 11

An unemployed worker who travelled the country in search for work.

Question 12

Why didn’t President Hoover take immediate action at first?

Answer 12

He believed in ‘rugged induvidualism’ and ‘laissez-faire’ (being Republican).

Question 13

List 3 actions President Hoover took to improve things:

Answer 13

. The Reconstruction Finance Corporation- lent money to troubled buisnesses and small loans to farmers
. A huge road and dam building scheme to create jobs
. Made $300 million available so states could help their unemployed (only $30 million was accepted).

Question 14

Name one of Hoover’s actions that made things worse. Why did it fail?

Answer 14

The Hawley-Smoot tariff (1930) taxed foreign goods in hope Americans would resort to cheaper US goods.
. Other nations did the same to US goods and US exports/ more buisnesses fell sharply.

Question 15

What 2 protests occured in response to the Depression?

Answer 15

1. Farmers in Iowa used guns and pitchforks to chase government officials who tried to evict farm owners
2. 25,000 unemployed ex- solidiers marched to Washington DC and asked for their war pension to be payed early (in 1932). Hoover set the army on them to drive them away.

Question 16

Herbert Hoover was ________ at aged 8 and raised by two uncles. He aquired wealth in the ______ industry and became a multi-millionaire by __. He retired from mining to do politics for the __________ party, having an especially great career in WW1. He was elected as president in ____ during the economic boom.

Answer 16

1. orphaned
2. mining
3. 40
4. Republican
5. 1928

Question 17

List 3 main factors that contributed to Hoover loosing the election in 1932:

Answer 17

. He was a bad public speaker
. Only took action on the Depression a few years later
. ‘Rugged induvidualism’- thought people could overcome any problems alone and work hard like he did

Question 18

FDR was privatley educated, having come from a very rich family, and many of his family were ___________. He served for the ____ during WW1 and contracted ______ (leaving him in a wheelchair for the rest of his life) in 1921. He re-entred politics in ____, becoming the Governor of New York and was a ________ (supposedly influenced by his wife, Eleanor).

Answer 18

1. Republicans
2. navy
3. polio
4. 1928
5. Democrat

Question 19

What reasons contributed to FDR’s election in 1932?

Answer 19

. He was an excellent public speaker
. He succeeded despite his disability- he had the ability to recover
. The phrase ‘New Deal’ caught voters imagination

Question 20

As Govenor, what had FDR already contributed towards helping those effected in the Depression?

Answer 20

Spent $20 million of tax money helping the unemployed.

Question 21

If elected, FDR promised America the 3 R’s. What did they stand for/ mean?

Answer 21

Relief: help for the old, sick, unemployed and homeless
Recovery: government schemes to provide jobs
Reform: make America better for the ‘ordinary people’ and prevent another Depression from happening

Question 22

Being a great public speaker, how many speeches did FDR sometimes do around the country in a day?

Answer 22

15

Question 23

Why do some historians believe FDR’s disability added to his likeability?

Answer 23

He may have the right experience to help America recover because he succeeded despite his disability.

Question 24

What were the 3 R’s FDR promised America if he won the election?

Answer 24

Relief: help for the old, sick, unemployed and homeless
Recovery: government schemes to provide jobs
Reform: make America better for the ‘ordinary person’ and prevent another Depression