The Great Depression bust

Question 1

Give me some consequences of the Great Depression

Answer 1

1) failing industries/businesses
2) failing banks
3) failing agricultural industries
4) decline in confidence in the economy
5) decline in confidence within politics
6) racism
7) international conflict

Question 2

What type of industries declined during the Great Depression?

Answer 2

• Between 1929 and 1932 the ship industry declined by 90% and in turn this effected industries such as coal and steel
• there was no work at all in coal mines in Illinois
• car productions fell by 80% the ford company car sales fell from 4.5 million in 1929 to 1.1 million in 1933
• building construction fell by 92%

Question 3

How much did the ship industry decline by during the great depression and in what years?

*and what type of industries did this affect?

Answer 3

It declined by 90% between the years 1929 and 1932

-affected coal and steel industries

Question 4

What place was there no workers at all in Illinois?

Answer 4

Illinois

Question 5

How much did car production fell by?

And give me an example with statistic of which car company decreased in sales

Answer 5

Car production fell by 80% by 1933

The ford company had 4.5 million sales in 1929 which decreased to 1.1 million in 1933

Question 6

What % did building construction fall by?

Answer 6

92%

Question 7

How many banks failed in 1930?

And why?

Answer 7

-600 this increased to 2,294 in 1931.

There can be various reasons why for instance some banks used their customers money without them knowing to invest in the stock market and therefore when there customers asked for their saving they did not have it

• Customers and businesses took debts from banks for instance some customers who invested “on the margin” (through borrowing) could not pay backs banks and therefore they were losing slot a lot of money as well as customers who took debts for hire purchase.
• no Efficient banking system in place overwhelming amount of people asking for their saving could cause many issues in the banks workers may feel overwhelmed confused as a result numbers would be miscalculated and the banks would have to close.

Question 8

How many banks closed in 1929?

Answer 8

659

Question 9

How many banks failed by 1931?

Answer 9

2,294

Question 10

Give me some reasons as to why banks failed?

Answer 10

• OVERWHELMED too many people took out their savings at the same time over the fear of losing money.
• Banks used People’s savings without their consent to invest and therefore could’ve lost a lot of money during the Wall Street crash unable to give money back to customers
• many people took out debts from the banks to by ‘on the margin’ as a result with from the Wall Street crash they wasn’t able to pay back the money to the banks meaning they lost

Question 11

How did the Great Depression affect the agricultural industry?

Answer 11

It caused more protectionist tariffs such as the 1931 smoot Hawley tariff caused a reaction from other counties this made it more difficult for farmers to sell their goods abroad.

• America’s GNP dropped over 25% from 1929 to 1933 therefore farms wasn’t making enough money.
• Over one million families lost their farms between 1930 and 1934.

Question 12

How many families lost their farms between 1931 and 1934?

Answer 12

Over one million

Question 13

How much did corporate profit drop by between the years….. to ….?

Answer 13

Corporate profits dropped from 10 billion in 1929 to 1 billion in 1932

Question 14

What % of the average family income reduce to between 1929 and 1932?

Answer 14

40%

Question 15

Between what years did the average family income drop by 40%?

Answer 15

1929 to 1932

Question 16

How many saving accounts were wiped out between 1930 and 1933?

Answer 16

9 million saving accounts

Question 17

How much did unemployment in the NON-agricultural industry decrease by in 1933?

Answer 17

25%

Question 18

By 1932 how many people were living in Hoovervilles?

Answer 18

1-2 million hobos were living in Hoovervilles by 1932

Question 19

What did the American GNP drop to by 1933?

Answer 19

25%

Question 20

What made it more difficult for states to help out the poor?

Answer 20

Tax revenue acts made the government have less money to help out

Question 21

How many cities could not help the poor at all by 1932?

Answer 21

100 cities

Question 22

How many many emergency cases did New York have in 1932 that they couldn’t help at all?

Answer 22

25,000 emergency cases in New York in 1932

Question 23

What racist thing do Texas declare?

Answer 23

‘Applications are not taken from unemployment Mexican or coloured families’

Question 24

Between what years was the city of Chicago unable to pay their teachers?

Answer 24

1932-1933

Question 25

Which magazine reported that 6 times more black Americans were unemployed than white Americans ? And when did they report this!

Answer 25

The magazine the nation | In 1931 reported this

Question 26

What did the magazine the nation report in 1931?

Answer 26

Unemployment were 6 times more for black Americans than white Americans

Question 27

What type of jobs that were previously reserved for blacks did the white Americans take?

Answer 27

Waiter and bellhop jobs

Question 28

What did a study conducted about unemployment between races in 13 cities show?

Answer 28

52% of black Americans were unemployed contrary to 31.7% of white Americans. More blacks were unemployed than white people

Question 29

What was the unemployment rate in Cleveland?

Answer 29

50%