The Wall Street Crash and Depression

Question 1

What long term cause caused the wall street crash- name 5?

Answer 1

Over production because:
1. 42% of population below poverty line and the could not afford to buy goods.
2. Farming had missed out on the boom- many farmers poor or out of work.
3. because of tariffs us did not have strong relations to export goods made
4.by 1929 people who could afford cars and larger consumer goods had bought them and didn’t need more.
5. America was producing more than it could sell- ware houses full of unsold goods

Question 2

What were the short term causes of the wall street crash?

Answer 2

Keyword- speculation
in 1929- too many people speculating on the stock market, buying shares for a quick profit.
This made share increase in price too quickly and meant shares were worth more than their true value.
Many people had borrowed money to buy shares.
in Sept 1929 share prices began to decrease and people started to loose confidence. Then confidence fell further resulting in the crash.

Question 3

What was the wall street crash?

Answer 3

1. Share prices collapsed on the stock market.
2. Individual people lost thousands and millions of dollars
3. Many went bankrupt
   4- between 1929 and 1932 thousands of banks went bankrupt

Question 4

Name 6 ECONOMIC results of the wall street crash?

Answer 4

1. businesses could no longer sell their goods
2. factories closed down
   3 workers lost their jobs
3. less money to buy goods
   5.more factories closed down
4. more workers lost their jobs

Question 5

Name 5 SOCIAL results of the wall street crash

Answer 5

1. By 1932 12 million people unemployed.
2. No unemployment benefit so many went hungry and lost homes. Many queuing for soup kitchens for something to eat.
   3 Thousands took to living on the road in their cars. Make shift shanty towns set up called ‘hoovervilles’
3. Farmers were worse off- and now even more loosing farms.
4. People lost their savings and went bankrupt.

Question 6

What were the POLITICAL results of the wall street crash?

Answer 6

President hoover tried to help with the depression in 4 ways:
1. He cut taxes to restart the economy
2.He tried to persuade business leaders not to cut wages.
3. He set up the reconstruction finance company to help out banks.
4. He tried to protect american industries by introducing tariffs

Despite this action Hoover was beaten by Roosevelt in the 1932 elections.

Question 7

What were the main causes of the Great Depression in America?

Answer 7

The main causes were the 1929 Stock Market Crash, bank failures, reduction in international trade, agricultural overproduction, and income inequality.

Question 8

How did the Great Depression affect employment in the U.S.?

Answer 8

Unemployment soared, reaching about 25% of the workforce in 1933, with millions of Americans losing their jobs and struggling to find new work.

Question 9

How did the Depression affect banks in the United States?

Answer 9

Thousands of banks failed due to bad loans and a loss of confidence. People rushed to withdraw their savings, leading to more bankruptcies.

Question 10

What social impact did the Depression have on American families?

Answer 10

Many families lost their homes, went hungry, and suffered from poor living conditions. Increased poverty led to higher rates of homelessness.

Question 11

What were Hoovervilles?

Answer 11

Hoovervilles were makeshift shantytowns named mockingly after President Hoover, where homeless people lived during the Great Depression.

Question 12

Why were Hoovervilles named after Herbert Hoover?

Answer 12

They were named sarcastically because many people blamed Hoover for not doing enough to address the economic crisis.

Question 13

What impact did the Depression have on unemployment in urban areas?

Answer 13

Unemployment in cities was extremely high, with many workers losing factory jobs and migrating to look for work elsewhere.

Question 14

How did President Hoover initially respond to the Depression?

Answer 14

Hoover believed in limited government intervention and encouraged voluntary business cooperation to solve economic problems, but this approach largely failed.

Question 15

What were the Reconstruction Finance Corporation (RFC) and its purpose?

Answer 15

The RFC was set up by Hoover to provide loans to businesses and banks, hoping to stimulate economic recovery, but it did not sufficiently help the unemployed or those in poverty.

Question 16

Why did Hoover’s policies fail to end the Depression?

Answer 16

Hoover’s reliance on voluntary business cooperation and lack of direct aid to individuals meant that the policies did not address the immediate needs of the American people.

Question 17

Who were the candidates in the 1932 U.S. Presidential Election?

Answer 17

The candidates were Herbert Hoover, the incumbent president, and Franklin D. Roosevelt, the Democratic challenger.

Question 18

What was Roosevelt’s slogan during the 1932 election?

Answer 18

“A New Deal for the American People.”

Question 19

Why did Franklin D. Roosevelt win the 1932 election by a landslide?

Answer 19

Roosevelt promised active government intervention to help the unemployed and revive the economy, which appealed to the suffering public. Hoover’s unpopularity during the Depression also contributed to his defeat.

Question 20

What were the main aims of Roosevelt’s First New Deal?

Answer 20

The main aims were to provide relief for the unemployed, recover the economy, and reform the financial system to prevent future depressions.

Question 21

Name three key agencies established by the First New Deal.

Answer 21

The Civilian Conservation Corps (CCC), the Public Works Administration (PWA), and the National Recovery Administration (NRA)

Question 22

What was the impact of the CCC

Answer 22

The CCC provided jobs for young men to work on conservation projects, such as reforestation and soil erosion control, helping to reduce unemployment.

Question 23

How did the NRA attempt to tackle the Depression?

Answer 23

The NRA aimed to regulate industry by setting codes for wages, working hours, and prices to stimulate economic recovery.

Question 24

What was the purpose of the Federal Deposit Insurance Corporation (FDIC)?

Answer 24

The FDIC was created to insure bank deposits, restoring public confidence in the banking system.

Question 25

Why did the Supreme Court oppose some New Deal measures?

Answer 25

The Court ruled several key New Deal programs unconstitutional, arguing they gave too much power to the federal government and interfered with state authority and individual liberties.

Question 26

What was Roosevelt’s response to the Supreme Court’s opposition?

Answer 26

Roosevelt proposed the Judiciary Reorganization Bill in 1937, also known as the “court-packing” plan, to add more justices sympathetic to the New Deal, though it was widely criticized and never passed.

Question 27

What was the Republican view on the New Deal?

Answer 27

Many Republicans believed that the New Deal involved excessive government intervention in the economy and was leading the U.S. toward socialism.

Question 28

How did radical groups, like Huey Long, view the New Deal?

Answer 28

Radical groups such as Huey Long’s “Share Our Wealth” program believed the New Deal did not go far enough and pushed for wealth redistribution to tackle inequality more directly.

Question 29

What was the main difference between the First and Second New Deals

Answer 29

The Second New Deal focused more on social welfare programs, labor rights, and long-term economic reforms, while the First New Deal was more focused on short-term relief and recovery.

Question 30

Name two major programs introduced by the Second New Deal.

Answer 30

The Social Security Act and the National Labor Relations Act (Wagner Act).

Question 31

What did the Social Security Act of 1935 provide?

Answer 31

t provided pensions for the elderly, unemployment insurance, and aid to dependent children and the disabled.

Question 32

How did the Wagner Act protect workers’ rights?


Answer 32

The Wagner Act strengthened labor unions by giving workers the right to join unions and bargain collectively, as well as preventing unfair practices by employers.

Question 33

What were the successes of the New Deal?

Answer 33

The New Deal helped reduce unemployment, restored confidence in the banking system, provided social welfare benefits, and improved infrastructure through public works programs.

Question 34

What were the criticisms or failures of the New Deal?

Answer 34

Critics argued that it expanded government power too much, did not end the Depression quickly enough, and did not do enough for African Americans and women.

Question 35

Did the New Deal fully end the Great Depression?

Answer 35

No, the New Deal helped alleviate the worst effects, but the Depression was not fully ended until the economic boom caused by World War II

Question 36

How did World War II affect the U.S. economy?

Answer 36

The war stimulated economic growth by creating jobs in munitions factories, increasing industrial production, and ending the Depression.

Question 37

What role did women play in the U.S. workforce during WWII?

Answer 37

Women entered the workforce in large numbers, taking jobs in factories, offices, and other industries that were previously reserved for men, symbolized by the iconic “Rosie the Riveter.”

Question 38

How did WWII change attitudes toward African Americans

Answer 38

WWII helped foster the civil rights movement as African Americans fought in the military and worked in factories, which highlighted the contradictions between fighting for freedom abroad and facing segregation at home.

Question 39

What was the Lend-Lease Act of 1941

Answer 39

The Lend-Lease Act allowed the U.S. to supply Allied nations with military aid and supplies on credit, without immediate payment, to help them fight the Axis powers.

Question 40

How did Lend-Lease benefit the U.S. economy

Answer 40

Lend-Lease provided a major boost to American industry, creating jobs and stimulating economic growth by increasing production of military equipment and supplies.

Question 41

What jobs did women take on during WWII

Answer 41

Women worked in manufacturing, particularly in shipbuilding, aircraft production, and other wartime industries, as well as taking roles in government offices and as nurses in the military.