Political Developments: Hoover's actions with Banks, Farmers, Industries

Question 1

How many banks failed a year in the 1920s?

Answer 1

500 a year

Question 2

How many banks failed in 1930?

Answer 2

1200

Question 3

How many times more banks failed in 1931 compared to 1930?

Answer 3

Twice as many banks failed

Question 4

How many banks failed in 1933

Answer 4

4000

Question 5

How many banks were there in the 1920s?

Answer 5

30,000 banks

Question 6

What did the 1932 Reconstruction Finance Act do?

Answer 6

Provided $2 billion to banks to prevent them from collapsing

Question 7

When was the Emergency Relief Construction Act passed?

Answer 7

1932

Question 8

What did the 1932 Emergency Relief Construction Act do?

Answer 8

Reserved $2 billion to get people back into work

Question 9

What did Hoover propose with banks in 1933?

Answer 9

A banking holiday

Question 10

What would a banking holiday have done?

Answer 10

Freeze actions of banks

Question 11

What was the problem with Hoover’s proposal of the banking holiday?

Answer 11

He never went through with it

Question 12

What did FDR do with the banking holiday idea?

Answer 12

He implemented it for 4 days

Question 13

Which industry did Hoover quickly realise was facing problems?

Answer 13

Agriculture

Question 14

What did the 1930 Agricultural Marketing Act do?

Answer 14

Gave group loans to farmers

Question 15

Why did the 1930 Agricultural Marketing Act give group loans to farmers?

Answer 15

So they could ensure they made a profit in their regions

Question 16

What corporation was set up for farmers?

Answer 16

Grain Stabilisation CorporationW

Question 17

What was the aim of the Grain Stabilisation Corporation?

Answer 17

To raise the price of wheat

Question 18

How much was a wheat bushel worth in 1929?

Answer 18

$1

Question 19

How much was a wheat bushel worth in 1930?

Answer 19

$0.40

Question 20

What tariff did Hoover pass in 1930?

Answer 20

Smoot-Hawley Tariff

Question 21

What did the Smoot-Hawley Tariff do?

Answer 21

It increased tariffs on imports

Question 22

How did many countries respond to the Smoot-Hawley tariff?

Answer 22

They set up retaliation tariffs

Question 23

How much did American exports fall by due to the Smoot-Hawley Tariff?

Answer 23

Fell by 60%

Question 24

How many economists opposed the Smoot-Hawley tariff being passed?

Answer 24

1000 economists

Question 25

Name one prominent individual who opposed the passing of the Smoot-Hawley Tariff

Answer 25

Henry Ford

Question 26

What year did farmers experience droughts?

Answer 26

1931

Question 27

How many hectares of land were affected by the 1931 droughts?

Answer 27

20 million hectares

Question 28

How much money did Hoover provide to try and help farmers with the 1931 droughts?

Answer 28

$50 million

Question 29

By what year had 25% of farmers lost their land due to the 1931 droughts?

Answer 29

1932

Question 30

By what year were 7 million people unemployed

Answer 30

1931

Question 31

How much money did Hoover spend to try and get industrial workers into employment in 1932?

Answer 31

Spent $500 million

Question 32

Which 1932 Act gave $300 million to the government to help the unemployed find work?

Answer 32

1932 Emergency Relief Act

Question 33

Which 1932 Act tried to stimulate house building?

Answer 33

1932 Home Loan Act

Question 34

When did construction go into a recession?

Answer 34

1928

Question 35

How much money was given to help stimulate house building?

Answer 35

$12 million

Question 36

What did the 1932 Revenue Act increase taxes on?

Answer 36

Increased taxes on big businesses

Question 37

What was slowed down by the 1932 Revenue Act?

Answer 37

Consumer spending

Question 38

What was the overall view of Hoover’s actions to tackle the Great Depression?

Answer 38

He did too little too late