evidence

Question 1

trusts

Answer 1

by 1904 4% of companies produced 57% of US wealth

Question 2

monopolies

Answer 2

John D Rockefeller standard oil company

Question 3

robber barons

Answer 3

Carnegie, rockefellar

Question 4

labour unions

Answer 4

created in 1885

Question 5

populist party

Answer 5

formed in 1892
wanted 8 hour working day
lower interest rates

Question 6

credit

Answer 6

1925 = most goods bought on credit

• by 1929 almost $7 billion worth of good were purchased on credit
• Brokers would lend 80%-90% of the price of the stock. Investors only needed to put down 10%-20%.

Question 7

left out farmers

Answer 7

30 million earned living through farming

1920-1930 number of farmers declined

Question 8

left out African Americans

Answer 8

3/4 of a million black farmers lost their job in 20s

by end of decade 25% moved to cities

Question 9

left out workers in old industries

Answer 9

600,000 miners went on a 4 month strike for better conditions but to no avail

Question 10

the red scare

Answer 10

It is said that there were over 150 000 anarchists or communists in USA in 1920 alone and this represented only 0.1% of the overall population

Question 11

restrictions placed on immigrants

Answer 11

immigration quota act 1921
national origins act 1924
in 1920 immigration was restricted to 150 000 a year

Question 12

women in the 20s - workplace

Answer 12

70 000 women were domestic servants

Question 13

trade and tariff

Answer 13

30% tax on imported goods

Question 14

the banking system

Answer 14

Interest rates during 1920s were low (below 5%)

Question 15

unequal distribution of wealth

Answer 15

o 50% of Americans only earnt enough to buy bare necessities therefore had to borrow
o In 1928 1% of the population owned almost 25% of US wealth

Question 16

hoovers response - limited charity relief

Answer 16

Ohio unemployment was 50% in 1932, council rain out of money and stopped giving aid to 50,000 families, Hoover wouldn’t give money

Question 17

hoovers response - reconstruction bank corporation

Answer 17

$2 billion worth loans to banks, insurance companies and rail roads

Question 18

hoovers response - tax increases

Answer 18

For high payers 23% to 63%

Increasing taxes by more than 100% for poor people

Question 19

hoovers response - public work schemes

Answer 19

$423 million in spending

hoover dam

Question 20

hoovers response - emergency relief act

Answer 20

Passed $300 million in loans to state gov to give unemployment relief

Question 21

impact of ND on African Americans

Answer 21

50% unemployment, 25% unemployment for white people

Question 22

impact of ND on women

Answer 22

Only about 8000 women were included in the CC programme

Question 23

effectiveness of ND on banks

Answer 23

When banks re-opened 90% deposits were intact

Question 24

effectiveness of ND on unemployment

Answer 24

In 1932 unemployment = 25% by 1937 = 13-14%

Question 25

effectiveness of ND on agriculture

Answer 25

In 1933 6 million pigs slaughtered as $100 million paid to cotton farmers to plough crops

Question 26

income and money change during boom

Answer 26

Per-capita GDP rose from $6,460 to $8,016 per person, but this prosperity was not distributed evenly. In 1922, the top 1% of the population received 13.4% of total income. By 1929, it earned 14.5%.

Question 27

left of of boom

Answer 27

Farming declined from 18% to 12.4% of the economy

Taxes per acre rose 40%, while farm income fell 21%

Question 28

growth of industries

Answer 28

By the mid-1920s, 7,500 cars were being produced daily, one car every 10 seconds
- The development of the car industry sparked a growth in other industries, eg cars used 90 per cent of America’s petrol, as well as 80 per cent of the country’s rubber and 75 per cent of its glass.

Question 29

technological developments

Answer 29

• In 1919, 60,000 radio sets had been sold, but in 1929, 10 million were sold
• There was a similar growth in sales of telephone equipment, from 10 million in 1915 to 20 million in 1930