Effects of the Wall Street Crash Flashcards
How many companies had gone bankrupt 1933?
100,000.
Many banks ceased to exist after the Wall Street Crash, why?
They couldn’t pay back investors.
How many people were unemployed by 1933? Which ethnic group suffered unemployment the most?
14 million.
African Americans.
What happened to the wages of those who were still employed in 1933?
They were majorly reduced.
In the manufacturing industry, wages were cut by an average of __%,
20%.
Incomes of _______ dropped by more than half between 1929 and 1933.
Farmers.
Many farmers became people who traveled around the country looking for work, these people were called?
HINT: Lennie & George
Itinerant Workers.
What did banks to the homes of people who couldn’t afford to pay their mortgage? What did this lead to?
Repossessed their homes.
A spike in homelessness.
Camps were set up on the outskirts of cities to deal with those who’d lost their homes, what were these camps known as?
Hoovervilles.
To deal with the fact that people were homeless, what had to be set up in cities such as New York?
Soup Kitchens.
