Bust Flashcards
Effects of the Great Depression on farmers?
Transporting animals to the market was higher then the price of animals themselves.
Farmers unable to pay mortgages
Effects of Great Depression on the unemployed
14 million unemployed by 1933
People queued for bread and soup dished out
Hospitals were overwhelmed by people who were starving and malnourished
Effects of Great Depression on business men
Industries were producing more goods then people could afford to buy
For some suicide was the only way out
When was the Wall Street crash
October 24th 1929
What happened with the Wall Street crash 24th October
13 million shares were sold
The shares for radio fell by 24 cents
What happened with the Wall Street crash 29th October
16 million shares sold
On average shares dropped 40 cents
How did president hoover respond to the Great Depression
He was regarded as a ‘do nothing’ president
He tried to restart the econ with tax cuts
He introduced tariffs
Why did Franklin Roosevelt win the election?
He believed in an ‘active government’
Not afraid to ask for advice from factory owners, economists etc.
Had plans to spend public money
How many votes did Roosevelt win?
7 million and majority in Congress
What party was Roosevelt?
Democrat
What was the New deal?
Relief - help remove poverty
Recovery - boost the economy
Reform - ensure there were welfare provisions in place.
Emergency banking act
Closed all banks for 4 days and those well run were allowed to re open
Government lent some money to help them
The economy act
Cute the pay of those working for the government, army, navy and Air Force by 15% to help the unemployed
The beer act
Made it legal to sell alcohol again
Could now be taxed
Impact of radio by FDR
Used radio to explain his ideas
Many believed he was a man who was genuinely ‘in touch’ with them