America 2.1 American Society During the Depression Flashcards
What factors led to companies sales falling? What did this cause beginning September 1929? (AM 2.1)
- Not everyone could afford goods, overproduction, low overseas sales.
- Shares were sold, and share prices fell fast.
When was ‘Black Thursday’ and how many shares were sold? How many shares were sold on the 29th of October, and how much did shareholders lose? (AM 2.1)
- 24th October. 13 million.
- 16 million sold, shareholders lost 8 billion.
What led to banks going bust? How many went bankrupt in 1929? (AM 2.1)
-People buying on the margin couldn’t repay loans. No loan money led to 659 going bust in 1929.
What happened to ordinary people, rich people. and businesses after the bust? (AM 2.1)
- Lost a fortune, valuables and homes.
- Lost some wealth, not too affected.
- Under consumption led to cut production, wages, jobs and closure.
What happened to farmers after the bust? How many lost their farm by 1932? What caused the ‘Dust Bowl’? (AM 2.1)
- Couldn’t repay loans.
- 1 in 20 were evicted.
- Drought and poor farming.
By 1932, how many had been fired and how many companies closed? Between 1929 and 1932, how much did factory production and house building fall by? (AM 2.1)
- 13 million fired, 20,000 companies closed.
- 45% of production fell, 80% of building fell.
What were hobos, breadlines and Hoovervilles? How many stopped paying mortgages in 1932? (AM 2.1)
- Homeless travelling for work.
- Homeless queueing for food.
- Scrapyard housing built by the homeless who blamed Hoover.
- 250,000, most of which were evicted.
What was Hoover’s thoughts on the bust. Who lent out loans to businesses, and what schemes created jobs? How much was given out to help homelessness, and how much was used? (AM 2.1)
- Thought America would recover.
- Reconstruction Finance Corporation.
- Road and dam building.
- 300m, of which 30m was used.
How did the Hawley-Smoot tariff of 1930 make the bust worse and what happened? (AM 2.1)
-Taxing foreign goods led to other countries taxing American goods, leading to exports falling harshly and business failure.
How did farmers protest the government? How many ex-soldiers marched on Washington, and what scared them off? (AM 2.1)
- Scared government officers with guns and pitchforks.
- 25,000 marched, deterred by army with tanks and tear gas, killing two babies.
How did Hoover present himself in the election, and how did people respond? (AM 2.1)
- Orphaned republican who made his wealth from hard work, elected during the boom.
- Seen as uncaring and a bad public speaker. Unpopular.
How did Roosevelt present himself during the election, and what did he promise? (AM 2.1)
-Raised rich democrat, Governor of NY in 1928, who’d spent 20m helping the unemployed. Promised Relief, Recovery and Reform.
How did people respond to Roosevelt and his ‘New Deal’? (AM 2.1)
- ‘New Deal’ excited people.
- Excellent public speaker, making up to 15 a day travelling America.
- Popular for overcoming disability.
