how were the american people affected by the great depression Flashcards
big question 2
how were farmers affected by the great depression
- unable to pay mortgages
- banks tried to take their homes
- move to other places
- over-farmed land
- income fell
when was the great depression
1929 - 1932
how many farmers were evicted
1 in 20 evicted
where did farmers go
- many left to oklahoma and were called okies
what were famers forced to do during the depression
- slaughter livestock as transporting the animals was higher than the price to buy them
what did farm income fall to in the depression
fell from $ 13 billion to $ 5 billion
how were shareholders affected by the depression
- rich lost the most because they invested the most
- investors unable to pay back loans to banks and insurance companies - so these went bankrupt
- hoover promise “prosperity was right around the corner”
how much id rockefeller loose
$ 160 million
why did banks go bankrupt
they lost people money by buying shares
what did hoover promise during the depression
- “prosperity is right around the corner”
- he cut taxes to stimulate buying
- confidence was destroyed
workers/ unemployed - how much did industrial farm production fall by
40 %
workers/ unemployed - how much did wages fall by
60 %
workers/ unemployed - how many people were made unemployed every day
12 000
workers/ unemployed - how many people unemplyed in toledo
80 %
workers/ unemployed - what were hoovervilles
- shantytowns where people where forced to live
- hoover blankets = newspapers
- named after blamed president hoover
how were businessmen affected by the depression
- taken out huge loans in the 20s
- went bankrupt after wall street crash
- suicide
businessmen in the depression - when the bank of new york failed how many investors did it fail with
400 000 in december 1930
businessmen in the depression - how many banks closed in total
10 000
businessmen in the depression - how much money was withdrawn and stored at home and why
- $ 1 billion
- because people didn’t trust banks who lost their money
businessmen in the depression - how many companies were bankrupt
100 000
businessmen in the depression - what did US international trade fall from
$ 10 billion to $ 3 billion
businessmen in the depression - facts to show suicide during the depression
- 23 000 committed suicide in one year
- some businessmen tried selling apples or polishing shoes but for many suicide was the only way out
