Consequences of the Depression Flashcards
What happened to shareholders and businesses?
Lost millions of dollars
What happened to industrial production?
Dropped by 45%
How many banks shut?
5,000
By 1932 how many people were unemployed?
Over 13 million
Where did the poorest people live and get food from?
Hoovervilles and breadlines
How did people feel towards President Hoover and why?
Hatred because there was no welfare system and he refused to recognise the problems.
What happened to the ex army soldiers when they went to the White House?
They asked for their pensions early but Hoover turned the army on them and lets them use tear gas.
The protesters became known as the Bonus Army and the American public were shocked and outraged by the treatment the ex-service men received.
What did the American government do to European countries?
They recalled the loans from WW1 causing a global economic depression.
