Effect Of The GD On US Society And Economy Flashcards
What event marked the beginning of the most severe economic downturn in US history?
The Wall Street Crash of October 1929
This crash led to a major fall in share prices and was followed by widespread economic depression.
What percentage of America’s workforce was unemployed by 1932?
25 percent
This figure highlights the severity of the economic situation during the Great Depression.
Who lost the 1932 presidential election largely due to the Depression?
President Hoover
His presidency was heavily criticized for the government’s handling of the economic crisis.
What major political shift occurred as a result of the 1932 election?
The Democrats won the presidency and controlled both houses of Congress
This marked the end of the Republican Party’s dominance of the 1920s.
What was the role of the federal government during Roosevelt’s presidency from 1933 to 1945?
Played a major role in getting the US economy out of economic depression
This was achieved through programs called the New Deal.
How did unemployment change from October to December 1929?
Rose from 500,000 to over four million
This rapid increase highlights the immediate impact of the Wall Street Crash.
What was the unemployment figure when Franklin D. Roosevelt became president in spring 1933?
15 million
This figure does not include those working part-time.
Fill in the blank: The economic downturn after the Wall Street Crash was the most severe in both US and _______.
world history
What were the key programs initiated by Roosevelt to address the economic crisis?
The New Deal
These programs aimed to provide relief, recovery, and reform to the economy.
True or False: The majority of Americans were directly affected by the Wall Street Crash.
False
Only a small proportion of the US population owned shares.
What significant tariff was passed in June 1930 during the Great Depression?
Hawley-Smoot Tariff
This tariff raised duties on imports and worsened the economic situation.
What happened in November 1930 regarding the House of Representatives?
Democrats gained control
This change was part of the political shift following the Depression.
What was the economic condition of the US prior to the Wall Street Crash?
Rapid economic growth
The 1920s experienced significant economic expansion before the crash.
What is one consequence of the economic downturn on businesses?
Hundreds of businesses went bankrupt
This contributed to rising unemployment and economic instability.
What was the impact of the Wall Street Crash on public confidence?
The Wall Street Crash shattered public confidence and plunged the USA into a deep economic depression.
By how much did real wages in the USA fall between 1929 and 1931?
Real wages in the USA fell by 16% between 1929 and 1931.
What happened to the Gross National Product (GNP) of the US economy between 1929 and 1933?
The GNP fell dramatically during this period.
How does GNP differ from GDP?
GNP includes net property income from abroad, while GDP does not.
What was the percentage decline in construction from 1929 to 1931?
Construction declined by 78% during the period 1929-31.
What was the percentage decline in manufacturing from 1929 to 1931?
Manufacturing went down by 54% during the period 1929-31.
What was the percentage decline in investment from 1929 to 1931?
Investment declined by a massive 98% during the period 1929-31.
Why was the federal government reluctant to intervene during the Great Depression?
President Hoover believed the downturn would be short-lived and the Republican administration was committed to laissez-faire policies.
What was the total GNP in billions in 1933?
The total GNP in 1933 was $55 billion.
What was the unemployment rate in the USA in 1933?
The unemployment rate reached 12.8 million in 1933.
What was the state of welfare for the unemployed in the USA during the Depression?
There were no national unemployment welfare systems; only a few state governments had systems in place.
What did Frank Murphy, Mayor of Detroit, state in 1932?
He stated that Detroit was on the verge of bankruptcy without federal aid.
What was the main help for the poor and unemployed during the Depression?
The main help came from voluntary organizations, as President Hoover encouraged voluntarism.
What were soup kitchens and breadlines?
They were set up in towns to provide direct help to those affected by the Depression.
What was the key term ‘Voluntarism’?
Voluntarism is the idea that help for the poor and unemployed should be provided by voluntary organizations like churches.
What health issues arose from insufficient feeding of schoolchildren in Colorado by 1931?
Diseases such as dysentery, typhus, and pellagra spread due to poor diet and living conditions.
What significant event occurred in 1935 regarding the US Supreme Court?
The US Supreme Court declared the National Recovery Administration (NRA) unconstitutional.
What major acts were passed in August 1935?
The Social Security Act and Revenue Act were passed in August 1935.
What was Roosevelt’s ‘Court Packing Plan’?
It was introduced in February 1937 but was ultimately defeated.
What was the Fair Labor Standards Act?
It was enacted in June 1938 to set standards for labor practices.
What was the increase in suicide rates in the USA between 1929 and 1932?
Suicide rates rose 14 percent between 1929 and 1932.
What was the impact of the economic decline on ethnic minorities?
The rapid decline in economic activity led to a rise in racial discrimination against ethnic minorities.
How were Hispanic workers affected during the Depression?
Hispanic workers were severely affected by a dramatic drop in demand for agricultural products.
What actions did some states take to encourage Mexican citizens to leave the USA?
Some states barred non-US citizens from public works programs and were willing to pay the rail fare to the Mexican border.
What discrimination did Chinese workers face in 1932?
Customers in New York City boycotted Chinese laundries in an attempt to drive them out of business.
How did the Depression affect Black Americans?
Black Americans faced renewed oppression, being the first to be fired during downsizing and experiencing increased lynching.
What was the fate of farmers during the economic collapse?
Farm incomes fell by two-thirds between 1929 and 1932 due to a sharp fall in demand and prices.
What happened to farmers who had bank loans during the banking collapse?
Thousands of farmers lost their livelihoods when over 600 banks went out of business in 1930.
What was the Bonus Army?
In 1932, 21,000 veterans marched on Washington DC demanding immediate payment of bonuses due in 1945.
What was the outcome of the Bonus Army march?
The army forcibly evicted the Bonus marchers using tanks, resulting in the loss of two lives.
What event marked the beginning of the economic crisis in the USA?
The Wall Street Crash.
What was the impact of the Wall Street Crash on the US economy?
It led to the collapse of the US economy and encouraged the development of organized crime.
Who was the most notorious gangster associated with organized crime during the Depression?
Al Capone.
What illegal activities were gangsters involved in during the 1930s?
Gangsters were involved in illegal activities connected with the alcohol trade, gambling, and other black market trading.
What happened to Al Capone after federal officials targeted his operations?
He was convicted of tax evasion and received 11 years in prison.
Who were Bonnie and Clyde?
They were a notorious gang that robbed banks and committed murder until they were killed by the FBI in 1934.
What was the fate of Bonnie and Clyde?
They were tracked down and killed by the FBI on 23 May 1934.
Who was Machine Gun Kelly?
He was a gangster known for bank robbery, caught by police in Oklahoma in 1933.
What was the FBI’s decision regarding certain criminals in 1931?
The FBI labeled certain criminals as ‘public enemies.’
Who was Public Enemy Number 1 during part of the Depression?
John Dillinger.
What was John Dillinger known for?
He was a bank robber, bootlegger, and organized crime gangster.
What epitomized the lawlessness in the USA during the Depression years?
The activities of notorious gangsters like Al Capone, Bonnie and Clyde, and John Dillinger.
