Unit 2: 1930s America Flashcards
Effects on shares in the Wall Street crash
13 million shares sold on the 24th October
29th October shareholders sold 16 million shares
Shareholders lost over 8 million dollars
Effects of the Wall Street crash econmics
Many investors lost money
America entered a cycle of depression
100,000 companies shut from 1929 to 1933
Banks suffered as many customers invested in shares
Worldwide depression at the time.
Effects of the Wall Street crash social
25% of the workforce unemployed by 1933
Loss in faith for Hoovers Government
100,00 Americans fled to the Soviet Union
Increase in popularity for the communist party
What industry grew during the Great Depression
Entertainment
Successful things Hoover did:
Bought surplus food from farmers and controlled the food market prices
Maintained a Laissez Faire attitude with hopes of bringing back prosperity.
Set up construction projects such as the Hoover Dam which created jobs
Persuaded businesses to not cut wages
Emergency relief act- provided $300 million for those who are unemployed
Unsuccessful things hoover did:
Tried to restart the economy by cutting taxes
Introduced tariffs which made the depression worse as there was a finite amount of trade
The Republican Party did not want to change their policies
No social security
He left the relief to be provided by local government and charities
What Roosevelt promise in his manifesto
Remove the republican policies
Lower taxes
Set tarrifs that will not effect trade and relations with other countries
Creating more jobs
Restoring the nations basic industries
How did Hoover deal with the bonus army
He refused to pay them there promised pensions for fighting in WW1
Hoovers manifesto:
Consider the rid of prohibition
Stop Immigration
Speed recovery
Reduction of public expenditure
Pay the bonus army
How many votes did Roosevelt win by
7 million votes
Who could vote back then
Only men and Woman Wasps
Which states voted for Hoover
The North eastern states, New York, Vermont, New Hampshire
Only 6 states
How many states voted for Roosevelt
42
Largest defeat the democrats have ever seen in history
Why did people vote Roosevelt
Hoover had left the democrats with a bad reputation
He made promises which appealed to the working class
Payed the bonus army
He dealt with the depression- new deal
He had a good personality
Survived polio
War veteran
Was ex governor of New York
Why was Eleanor Roosevelt so significant
She led woman’s rights campaigns and gave Roosevelt a good image
NRA
National recovery association- improved working conditions, outlawed child labour, improved wages.
HOLC
Home owners loan corporation- payed off debts and mortgages owned by middle class persons so the banks did not reposes their homes
Success of the New Deal-
Roosevelt’s government were backed by the population
Created millions of jobs
Woman achieved promenant positions
200,000 African Americans. Gained benefits
Failures of the New Deal
The government struggled to cooperate with big businesses
6 million people unemployed in 1941
Minorities were excluded from the benefits such as native Americans
The us economy took longer than European economies to recover
Who opposed the new deal
The Supreme Court, the Republican Party
Why did the Supreme Court oppose the New Deal
The supreme court was dominated by republicans and they believed that the new deal extended the role of the federal government too far
Why did the Republican Party oppose the new deal
They believed it was doing too much and regarded Roosevelt as a dictator as he would control a lot
How did the new deal help recovery
It restored peoples faith in the government and the economy which led to people investing in stocks and shares
New jobs created in Roosevelt’s alphabet agencies and the brains trust
Stabilised the American Banking system
How did ww2 effect the economy
Increased production which provides employment in factories producing wartime products
Lend lease shipped 50.1 billion dollars of materials
750,000 African Americans found work in the war industries
