T2 02 US starter Flashcards
What is a Depression?
A sustained, long-term downturn in economic activity.
What was the unemployment rate by 1933
25.2%
What were Hoovervilles?
Shanty towns named after President Hoover - These were places that the homeless and unemployed lived in impoverished conditions.
Shanty towns named after President Hoover - These were places that the homeless and unemployed lived in impoverished conditions.
26/48
What happened to the number of marriages taking place in America?
Dropped from 1.23 million to 982,000
Why was the Great Depression particularly damaging to African Americans?
4-6 times more likely to lose their jobs. ‘First fired, last hired.’
Name 2 of Hoover’s core beliefs
Rugged individualism
Self Help
Voluntarism
What did the Agricultural Marketing Act do set out to do?
Designed to buy back, store and dispose of surplus farm production
Why was the Agricultural Marketing Act ineffective?
It artificially inflated pricing which was unsustainable and led to further overproduction.
What was the Hawley-Smoot tariff?
Introduced the largest tariffs in US history - 40% on both agricultural and industrial items.
How did Hoover try and resolve the unemployment crisis?
Gave a $500 million to relief agencies to help the unemployed
What did the Federal Home Loan Bank Act do?
Created loans associations that would provide mortgages to those who needed them
What did the Emergency Relief Construction Act 1932 do?
Authorised the RFC to lend up to $1.5 billion to finance public works therefore creating temporary employment.
What was the Bonus Army and how did Hoover react to them?
Protesting war vets who wanted their bonuses. Hoover supported their violent removal from the Hoovervilles they were squatting in.
