Great Depression and New Deal

Question 1

US economic growth

Answer 1

1920-1929 GNP 73 billion to 104 billion
Average growth rate of 2%
Unemployment kept under 3.7%

Question 2

Techonological Breakthrough

Answer 2

1900-1920, every city built electric power transit

First car 1889, Model T 1909

Question 3

Coolidge’s taxation policy

Answer 3

Revenue Act 1926 dropped top maginal rate from 46 to 25%

3.5 billion corporate tax reduction

Question 4

Coolidge’s regulations

Answer 4

Federal Trade Commission unwilling to operate

Ignore long hrs, little wage, child labour

Question 5

Coolidge foreign policy

Answer 5

Fordney McCumber Tariff 1922 38% on goods

Question 6

Growth of large corporation

Answer 6

Du Pont 31,000 in 1920

Ford River Rouge 68000

Question 7

Ford and mass production

Answer 7

Cost of each car dropped from 950 to 290 in 1925

1927, 15 million produced total. 1 every 10 seconds

Question 8

Growth of automobile industry

Answer 8

employed 7% of industrial workers and 9% of wages

80% of petrol, rubber, 70% of glass

Question 9

Natural resources and infrastructure in US

Answer 9

10,000 miles of highway per year

Coal in West Virginia, Penn, Oil in Texas Penn

Question 10

Advertisement using radio and cinema

Answer 10

17,000 cinemas by 1928 with 10 cent tickets

618 radio station by 1928 undder National Broadcasting Company and Columbia Braodcasting system

Question 11

Growth of credit

Answer 11

1929 7 billion worth of goods

75% of cars, 50% of household appliances

Question 12

US foreign market

Answer 12

Fireston corportation Liberia rubber field
1927, 85% of tractors in USSR
Private investment to 17.2 billion in 1930

Question 13

Agricultural price drop and population loss

Answer 13

Wheat fell from 2.5 to 1 per barrel
13 million acres halt production
5% population loss correpsonded to 9% production rise

Question 14

Coolidge agricultrual policy

Answer 14

Capper Volstead Act 1923 farming corporations
Agricultural Credit Act 1923 fed banks to cooperative
McNary Haughen Bill (buy surplus and sell as export) vetoed

Question 15

Coolidge Trade Union

Answer 15

Supreme Court blocked attempts to ban child labour
1922 Railroad strike fed judge declare illegal
1910-30 Union memebers froppped from 8.5 to 7.1%

Question 16

Coolidge AfricanA and NativeA

Answer 16

85% in South as sharecropper

Harlem population rose from 50,000 to 165,000 1914-1930

Question 17

Coolidge AfricanA and NativeA

Answer 17

85% in South as sharecropper
Harlem population rose from 50,000 to 165,000 1914-1930
Allotment broke land into 160 acres
90 million acres out by 1932 from 138 million

Question 18

Rise of immigration

Answer 18

1 in 60 rejection rate
1907, 1.285 million migrants
By1900, half of Chicago, 80% of NY

Question 19

Coolidge migration policy

Answer 19

1919 Palmer Raids 5600 deported

1924 Johnson-Reed Immigration Act naional origin quota of 2%

Question 20

Failure of prohibition

Answer 20

Land border only 3000 Treasury agents

Al Capone worth 27 million

Question 21

Rise of KKK

Answer 21

Maine’s anti-klan attorney general Pattangal defeated in 1924 election
Hugo Black Surpreme Court Justice
Impeached anti-klan governor in Oklahoma
4 million peak 1924 to 200,000 1929

Question 22

Great Crash 24 Oct Thursday

Answer 22

24th October 1929 12.8 million shares changed hands and value fell by 4 billion
US steel205 to 193

Question 23

Saving Stock Market

Answer 23

6 bankers to buy 40 million shares

Question 24

29th October 1929

Answer 24

16 milion shares sold

Dow Jones fell by 11%

Question 25

Income Inequality

Answer 25

60% of families’ income less than 2000

Bottom 40% had 12.5% of wealth while top 5% had 33%

Question 26

Florida Land boom

Answer 26

970,000 to 1.2 million in 1925 10% binder deposit

Phony town of Nettie

Question 27

Stock exchange speculation

Answer 27

500,000 shares to 1.1 million 1925-1929

10% deposit to buy on margin

Question 28

Problems with banking system

Answer 28

1921-1928 5000 banks went out of business

1/3 of 30,000 banks under juridction of F.R.B

Question 29

GD on economic figures

Answer 29

GNP fell from 103 billion to 55 bilion 1929-1933
weekly earning fell from 25 to 17
OPL fell 25%

Question 30

GD on manufacturing and industries

Answer 30

coal workfroce fell by 300,000 while steel and iron halved
Car sales fell from 4.5 million to 1 million 1929-1933
Contracts fell from 6.6 to 1.3 billion

Question 31

Bank Closure

Answer 31

9000 from 1930-33

Question 32

Hoboes

Answer 32

1 to 2 million by 1932

Question 33

Rural Poverty

Answer 33

19% 1929 to 41% 1936 forced famr sales

Question 34

Hoover’s agricultural policy

Answer 34

1929 Agricultural Makreting Act — Federal Farm Boad has 500 million
Grain Stabilisation Corop paid for 82 cents per bushel while price dropped to 40 cents

Question 35

Hoover’s foreign policies

Answer 35

Hawley Smoot Tariff 1930 40% on goods

18 month debt moratorium

Question 36

Hoover’s relief programme

Answer 36

1932 500 million for relief
Federal Home Loans Act to provide mortgage credit up to 50%
Reconstruction Fiance Corp 2 billion to rescue banks…

Question 37

Results of RFC

Answer 37

90% of loans went to small or medium