america in the depression Flashcards
why were share prices inflated?
constant buying and selling on the stock market
how did people react to stock market crash in 1929?
in 1929, stock market collapsed, so people panicked and panic sold their shares
made it almost impossible to get credit
why were some banks forced to close?
many americans could not afford to pay back loans
peoples savings were also lost
why did many people not have the money to buy consumer goods anymore?
because banks would not give credit anymore
by 1933, what percent of population was unemployed?
25%
people queued for breadlines, what was this?
lines for food and soup
how were family lives affected?
marriages were delayed
birth rates fell
why were farmers already struggling before depression?
overproduction
how were farmers affected by depression?
crash made prices even lower
debts increased and farmers couldnt afford to payback
what were dust bowls and how did they affect farmers?
large plots of land where no crops could be grown
many had to abandon work
how did businessmen suffer?
banks no longer gave out loans so businesses could not find money they needed to survive
struggling banks also demanded businesses to repay existing loans
what were hoovervilles?
homeless people lived in shanty towns called hoovervilles
named after president as they believed he was not doing enough
