Poverty in the midst of plenty

Question 1

What % of the population in 1925 owned one third of the wealth?

Answer 1

5%

Question 2

Which groups fell into the poorer sections of American society?

Answer 2

Immigrants, farmers, African Americans and white workers in older industries such as coal mining, leather and textile works

Question 3

Total farm income was 22 billion dollars in 1919, what was it in 1928?

Answer 3

13 billion dollars

Question 4

Which new industries were competition for the coal mines?

Answer 4

Oil and electricity

Question 5

Why did leather and textile industries decline?

Answer 5

• domestic competition from ne woman made materials
• cheap labour in the southern states
• wages didn’t increase in line with payments to shareholders

Question 6

In 1929’ what percentage of American families had an annual income of below $2,500 (minimum needed for a a decent standard of living - breadline)?

Answer 6

71%

Question 7

Why did farmers income decline after WW1?

Answer 7

• demand for exports aboard declined as war ended
• mechanisation led to overproduction and a decline in grain prices
• Tariff barriers stopped exports abroad