The Boom-part 2 Flashcards
What did the richest 5% of the population earn?
33% of the overall populations wealth
What percentage of Americans lived below the poverty line in 1929?
60% of Americans lived below the poverty line
How much did Americans earn after 1929?
less than $2000 a year
What kind of people in America suffered?
Miners, farmers, blacks, recent immigrants and native Americans
What kind of problems did a black farmer face?
Low income and difficulty to pay mortgage
Why were white farmers experiencing problems?
New farming machines like combine harvesters dropped food prices making smaller farmers less well off
What problems were black workers experiencing?
Job losses and low wages
Why were black workers facing problems?
Many of them moved from the south to cities in the north
What problems were miners facing?
Wage cuts and job losses
Why were miners facing problems?
New forms of power like gas and oil meant coal was used much less
What problems were recent immigrants facing?
Unemployment
Why were recent immigrants facing problems
No new jobs were being created despite the growth of industries
What problems were native Americans facing?
Extreme poverty, poor education, low life expectancy
Why did native Americans face problems?
Big mining companies stole their land and moved them to reservations which had poor soil where it was impossible to grow crops
