Problems Due To Boom

Question 1

Declining Exports(farming)

Answer 1

Other countries import less food to USA b/c of tariffs, protectionism

Question 2

Over-Production(farming)

Answer 2

New machinery like combine harvester and pesticides and fertilisers, declining exports, too much production, low demand and high product

Question 3

Falling prices(farming)

Answer 3

Due to more supply than demand, prices fall by 50%, 100s of rural banks collapse, affected over 60M Americans, 6M forced off farmland

Question 4

Results of farming problems

Answer 4

Couldn’t compete VS Canada, unwanted wheat, 60M affected, less import from Europe

Question 5

Tech and Mechanisation (older industries)

Answer 5

Fewer workers required, over-production, over 42% of Americans under poverty line ($48/week) in 1920s, coal miner strike in NCarolina in 1928 (men:18$/week, women:9$/week for 70hrs/week)

Question 6

Problems in coal industry

Answer 6

Overproduction reduced cost and profits, losing to electricity and oil, not much coal needed for electricity

Question 7

Problems in textile industry

Answer 7

Suffered from competition, profits declining and slow growth, workers couldn’t compete w/ machines, low wages compared to other jobs

Question 8

Poverty and Unemployment

Answer 8

Marr production meant huge production increase but few jobs made, unemployment 5% from 1920-29, people affected by unemployment(whites in rural, Afroamericans, Hispanics, immigrants), poor ppl can’t afford consumer goods and aren’t offered credit, only 3% of semiskilled workers owned a car,little done for this bc republicans