Life Between 1930 and 1945 Flashcards
What was employment like in the 1920s?
Thanks to rugged individualism there was a boom in employment because more people became self employed.
What were three good effects of the Roaring 20s?
- Growth in female employment in advertising
- 2/3 of homes got electricity
- New goods were produced like vacuum cleaners and radios
What were three negative effects of the Roaring 20s?
- No progress made for Black Americans
- Farmers overproduced
- Mechanisation meant food prices fell
Why did the Wall Street Crash happen?
1) Companies and farmers were overproducing and poorly paid workers couldn’t afford the goods.
2) 42% of roper weren’t earning a living wage
3) The US was taxing imported goods so other countries repatriated by putting extra taxes on US exports. Export market shrank.
4) Market speculators played the market with money they didn’t have.
What happened on 24 October 1929?
Black Thursday - the price of stocks and shares crashed.
How did bankers react to Black Thursday?
They got involved and tried to balance the books and keep everything stable. Prices began to rise again.
What happened on 28 October 1929?
9,212,800 shares were sold as prices began to plummet again.
What happened on 29 October 1929?
16,410,030 shares were traded as prices hit rock bottom and people were desperate to get rid of them. The market crashes.
How did the Wall Street Crash lead to the depression?
People were less willing to spend money so demand went down leading to redundancies. Unemployment rocketed up an President Hoover refused to help under the principle of Laissez-faire.
What were Hoovervilles?
Shanty towns that the unemployed set up to protect against Hoover’s refusal to help them. People slept under “Hoover blankets” - piles of newspaper - and showed their “Hoover flags” - open empty pockets.
What was a Hoover wagon?
A car with two horses tied to it. It was to show that people couldn’t afford petrol.
What was the Dustbowl?
A period of drought in America that coincided with the Wall Street Crash. This meant that crops failed so there was a lack of food and farmers couldn’t afford to work.
How many people lost savings in the Wall Street Crash?
9,000,000
How many banks went bankrupt during the Wall Street Crash?
5,000
How many people were unemployed at the peak of the depression?
13,000,000
What was the Bonus Army?
A group of veterans who marched to Washington in 1932 to demand the early payment of their $500 bonuses which were scheduled to be paid in 1945.
What was the result of the Bonus Army?
They set up a Hooverville in front of the White House but the army dispelled them quickly.
What did people have to depend on in place of social security?
Handouts from private charity or begging and scavenging.
Who were the Arkies and Oakies?
The Arkies from Arkansas and the Okies from Oklahoma packed up their homes and families and travelled west in search of jobs on fruit farms. They were successful because they accepted less money than the locals.
What were hobos?
Homeless people who caught freight trains around the USA in search of work.
How many hobos were there estimated to be in the USA in 1933?
2 million
What were three ways the depression affected family life?
- Marriages and birth rates fell
- Suicides increased
- Schools closed
How did Hoover try to deal with depression?
- Asked business leaders not to cut production or wages
- Lent money to farmers
- Cut taxes
- Got $1.8bn to build new roads and dams
- Expanded public works projects
What did the Hawley-Smoot Tariff Act do?
It increased import duties