Development of the USA:1929-2000 Flashcards
What happened in 1928 that led to the eventual event of the Wall Street Crash?
Share prices didnt rise as much as expected and the lack of confidence in the market led to experts selling shares before the value fell further. This caused everyone to sell and the stock market crashed.
How many were unemployed by the end of 1929?
2.5 million
What was the name of the houses built by unemployed, named after the president?
Hoovervilles
Who were ‘Hobos’?
The unemployed who caught rides on freight trains in search of work
In 1931 how many hobos were there?
2 million
When the Great Depression began, who were the first to get sacked?
Black people - 50% unemployed
White people - 20% unemployed
What happened in 1931 to further give farmers problems?
Drought and Bankruptcy
Who were the ‘Arkies’ & the ‘Okies’?
Farmers from Arkansas & Oklahoma who travelled west in search of work
What effect did the depression have on young people?
They became reluctant to take on the extra commitment of marriage. Marriages fell from 1.23 million in 1929 to 982,000 in 1932.
What effect did the depression have on the suicide rate?
went from 12.6 per 1,000 people in 1926 to 17.4 per 1000 people in 1932
in 1932, what % of the population was recieving no income?
25%
Why were ‘hoovervilles’ such a problem for cities?
They had no sewage and water so they were a health hazard yet states didnt have the power to legally remove them until 1941
Who were the ‘Bonus Marchers’?
They were WWI veterans who had been promised a bonus for serving in the war, payable in 1945
How many members of the Bonus Expeditionary Force marched to Washington DC to voice their support for a bill which would allow early payment?
12,000 unemployed and homeless veterans
How much would it have cost the US government to pay the bonus marchers?
$2.3 million
What effect did the use of the army on the bonus marchers have on the public?
It reinforced their conviction that President Hoover didnt care
What does ‘rugged individualism’ mean?
It means that individuals should be responsible for themselfs and shouldve have help from anyone, even the government.
Give 3 of Hoovers early policies.
- He passed the Hawley-Smoot Tariff Act 1930 which protected US farmers by increasing import duties on foreign goods
- He assisted farmers with the Agricultural Marketing Act 1930 which enabled the government to lend money to farmers through special marketing groups called co-operatives, which tried to fix reasonable price levels.
- He cut taxes by US$130 million
What was the RFC policy by hoover in 1932?
US$2 billion in loans to ailing companies and railroads. aimed to strengthen confidence and stimulate industry.
What was the ERA policy by hoover in 1932?
Provided US$300 million to state governments to help the unemployed
What was the Home Loan Bank Act by hoover in 1932?
Attempted to stimulate house building and home ownership. 12 regional banks were set up with a collective fund of US$125 million
What were the good things about Hoovers policies?
- He persuaded the local city governments to expand their public works programmes and spending by US$1.5 billion
- He implemented policies rhat were followed by roosevelt such as helping banks and homeowners
