Depression Flashcards
What caused farmers to look for new jobs?
Crops died because of dust bowls and farm prices had fallen so low transporting goods costed more
What had the trade for farmers fallen to?
10 billion to 3 billion dollars
Why did banks take their land?
They couldn’t afford to pay mortgages
How many businesses went bust?
850000
Why did so many businesses go bust?
Many had taken out loans but they couldn’t pay them back also because they produced more goods than the could sell.
What did the businesses begin to do?
Cut production and laid off more workers.
What did the industrial and farm production fall by between 1928-1933?
40%
What did the average wage fall by?
60%
In 1933 how many people were unemployed?
14 million people
How many banks went bankrupt?
10,000 banks
What percentage of workers were unemployed in Cleveland?
50%
In 1931 in a New York hospital were admitted?
238 people were admitted to hospital due to starvation or malnutrition.
What did the businesses begin to do?
Cut production and laid off more workers.
What did the industrial and farm production fall by between 1928-1933?
40%
What did the average wage fall by?
60%
