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History Big Questions > USA 1930s/1940s Crash > Flashcards

USA 1930s/1940s Crash Flashcards

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1
Q

What year did the building industry start to fail?

A

1926

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2
Q

What had Europe done in response to raised American tariffs?

A

Raised their own tariffs

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3
Q

Why couldn’t America sell abroad?

A

Europeans wouldn’t pay expensive prices

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4
Q

What did the Laissez faire do, meaning people couldn’t afford goods?

A

Keep wages low

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5
Q

How much did most Americans earn?

A

Less than $2000 a year

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6
Q

How much of the top of the country owned what?

A

top 5% of the country owned 33% of wealth

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7
Q

By October 1929, shares cost..?

A

more than they were worth

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8
Q

How much money did the banks lend in 1929?

A

$9 billion

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9
Q

How many people were speculating by 1929?

A

20 million

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10
Q

Buying on margin increased meaning what?

A

Investors only had to pay 10% while banks would lend 90% which would be repaid from share profits

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11
Q

What % of shares were owned by women in the Pennsylvania Railroad?

A

50%

Nickname: Petticoat Line

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12
Q

What happened on the 5th Sept 1929?

A

The Babson Break: Roger Babson says “sooner or later a crash is coming and it may be terrific”

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13
Q

What happened on 21st Oct 1929?

A

Busy - so busy the ticker fell behind by 90 mins

Ticker = tells people of changes in prices

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14
Q

What happened on 24th Oct 1929?

A

Busiest trading yet - big falls - banks intervene - confidence returns - prices stabalise

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15
Q

What happened on 29th Oct 1929?

A

Massive fall - people sell for whatever they can get

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16
Q

Could farmers afford their mortgages in the depression?

A

No - adding more debt to the pile

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17
Q

What happened to highways and why in the depression?

A

Barricaded off to protect farmers

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18
Q

How many farmers were evicted?

A

1 in 20

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19
Q

What were farmers that left Oklahoma nicknamed?

A

Okies

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20
Q

Where did most farmers go once they packed up?

A

To California down Route 66

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21
Q

What happened to over farmed land?

A

Turned to dustbowls, became infertile and useless

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22
Q

Why did farmers have to slaughter livestock?

A

the price for the animals was lower than the cost of transporting them

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23
Q

What did farm income fall from and to?

A

$13 billion to $5 billion

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24
Q

How much money did Rockefella lose?

A

$160 million

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25
Q

How much money did Winston Churchill lose?

A

$500,000

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26
Q

How much money did Groucho and Harpo Marx lose?

A

$240,000 each

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27
Q

What did President Hoover do to try to stimulate buying?

A

Cut taxes

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28
Q

How much did industrial and farm production fall by?

A

40%

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29
Q

How much did wages fall by?

A

60%

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30
Q

How many people were being made unemployed a day?

A

12,000

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31
Q

What did some men deliberately do to gain work?

A

Set fires to forests to get paid as firefighters

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32
Q

How many workers were unemployed at the steel centre in Cleveland and Toledo in what year?

A

In 1932
Cleveland = 50% unemployed
Toledo = 80%

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33
Q

What were Hoovervilles?

A

shanty towns where people were forced to live

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34
Q

In 1932, how many people were admitted to hospital suffering from malnutrition/starvation, and how many died?

A

238 people - 45 of them died

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35
Q

When did the Bank of USA in New York fail with how many investors?

A

December 1930 with 400,000 investors

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36
Q

How many banks in total shut over the depression?

A

10,000

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37
Q

How much money was withdrawn and kept at home as people didn’t trust the bank?

A

$1 billion

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38
Q

How many companies went bankrupt?

A

100,000 companies

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39
Q

What did US international trade fall from and to?

A

$10 billion to $3 billion

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40
Q

How many people committed suicide in one year in the depression?

A

23,000 people

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41
Q

What did Hoover believe would happen if the govt intervened too much?

A

destroy American individual strength and make people lazy

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42
Q

Hoover refused to fund welfare programs because….

A

he thought it would reduce the incentive to work

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43
Q

What was Hoover nicknamed?

A

the ‘do nothing’ President

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44
Q

What happened in June 1932?

A

The Bonus March - servicemen who had fought in WW1 marched on Washington asking for their war bonuses to be paid early. Hoover refused and appointed General MacArthur to deal with them

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45
Q

What did General MacArthur do once Hoover told him to deal with the Bonus March?

A

MacArthur convinced himself they were communist agitators, and used tear gas and burned the marcher’s camps

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46
Q

What and when was Hoover’s Mexican Repatriation programme?

A

1929 - forced migration of 500,000 Mexicans and Mexican Americans to Mexico

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47
Q

How many Mexicans forced to Mexico in Hoover’s Mexican Repatriation programme were US citizens?

A

60%

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48
Q

What and when did Hoover’s Smoot-Hawley Tariff do?

A

1930 raised the tariff on thousands of imported items as a failed attempt to encourage the purchase of American goods

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49
Q

How much did international trade decline by due to Hoover’s Smoot-Hawley Tariff?

A

declined to about 20% of its earlier levels in just a few years

50
Q

What did protesting farmers in Iowa chant?

A

“In Hoover we trusted, and now we are busted”

51
Q

What act gave loans to farmers and businessmen to help prevent them from going bankrupt? Hoover

A

Agricultural Marketing Act (1929)

👎 it was expected to be paid back :(

52
Q

What did Hoover set up for the unemployment?

A

Committee for Unemployment Relief

53
Q

When did Hoover set up the ERA and what did it do?

A

Emergency Relief Act - 1932 - set aside $300 million to provide unemployment pay

54
Q

What was the NCC supported by Hoover?

A

National Credit Corporation was a voluntary association of big banks that loaned to smaller banks about to collapse

55
Q

How much money did Hoover give to state govts and when, to set up schemes of work?

A

$4 billion in 1931

56
Q

What did the US Congress establish and charter in 1932?

A

Reconstruction Finance Corporation, which provided $2 billion in aid to state govts and loans to banks

57
Q

Which of Hoover’s acts encouraged firms to maintain high wages by requiring union supported wages on Federal Construction contracts?

A

the Davis-Bacon Act

58
Q

Hoover’s Weaknesses

What was wrong with Laissez faire?

A

created poor income distribution between the rich and poor

59
Q

Hoover’s Weaknesses

What did he believe about cycles of prosperity?

A

the economy went in cycles of boom and bust, and soon good times would return

60
Q

Hoover’s Weaknesses

What did the tariffs he introduced do?

A

Strangled trade and made the depression worse

61
Q

Hoover’s Weaknesses

What act did he block which would have provided what to create jobs?

A

Wagner-Garner Relief Bill - would have provided $2.1 billion

62
Q

Hoover’s Weaknesses

What were his campaigns like?

A

Dull, offered no solution to the depression, unsympathetic

63
Q

FDR’s Strengths

What did he overcome and how did this help him?`

A

Overcame polio which showed his strength and will to fight

64
Q

FDR’s Strengths

When and where was he a governor ?

A

1928, Governor of New York

65
Q

FDR’s Strengths

What did he do as Governor of New York?

A

spent $20 million on home and work relief AND set up a committee of prevention of unemployment

66
Q

FDR’s Strengths

How was he described as a character?

A

Cheerful, optimistic, level-headed, prepared to ask for advice, believed in an active govt

67
Q

FDR’s Strengths

How many major speeches did he make, and how many on his train?

A

16 major speeches and 60 more on the back of his train

68
Q

FDR’s Strengths

What did he urge from 1928?

A

a pension scheme and an unemployment insurance scheme to help vulnerable workers

69
Q

FDR’s Strengths

How many km did he travel on his train during his grand tour visiting voters?

A

20,800km on his train - helped him win as it showed he related an cared to the public that were suffering

70
Q

Who believe the New deal is not doing enough?

A

Huey Long, Dr. Francis Townsend, Father Coughlin

71
Q

What did Huey Long want?

A

A “share our wealth” scheme:

Personal fortunes = $3 million
Income = $1 million

72
Q

What did Townsend want?

A

$200 pensions per month

73
Q

What did Coughlin do?

A

Used his radio broadcast to attack FDR - he set up the National Union for Social Justice

74
Q

Who believed the new deal was interfering too much?

A

Businessmen and republicans

75
Q

What did Ford stop supporting?

A

The NRA, and he cut wages

76
Q

What New Deal agencies did the Supreme Court shut down?

A

AAA, NRA, PWA

77
Q

In 1935, the NRA found what corporation guilty of selling poor food, treating workers badly?

A

Schechter Poultry

78
Q

What did the Supreme Court do during the Schechter Poultry scandal?

A

Said they could remain open and said that the NRA couldn’t interfere with state laws

79
Q

How many new judges did FDR threaten to create who would support his policies?

A

6 new judges

80
Q

List 2 actors

A

Greta Garbo, Jean Harlow

81
Q

List 2 famous films of the 1930s

A

Gone with the Wind, The Wizard of Oz

82
Q

When was the academy awards (Oscars) first broadcasted

A

1930 on the radio

83
Q

What did The Grapes of Wrath show?

A

The fate of Okies who had been evicted from their homes during the depression

84
Q

How many radios were there by 1939

A

28 million

85
Q

Give two new comics that appeared after the depression?

A

Superman and Batman

86
Q

What is the name of a baseball team that became famous even outside of the US?

A

The Harlem Globetrotters

87
Q

What organisation provided money to help Native Americans buy and improve land?

A

The Indian Reorganisation Act 1934

88
Q

What did the Indian Reservation Act 1934 do?

A

Helped native Americans to preserve and practise their culture, traditions and laws

89
Q

How many black Americans were employed by the CCC?

A

200,000

90
Q

Did FDR ever pass a law to stop lynching?

A

No

91
Q

Out of how many WPA supervisors in the South, how many were black?

A

Out of 10,000, only 11 were black

92
Q

By 1935 how many people were unemployed?

A

10.6 million

93
Q

How many people were unemployed by 1941?

A

6 millio

94
Q

Who was the first female Secretary for Labour?

A

Frances Perkins

95
Q

How many corrupt officials did Frances Perkins remove from her department?

A

59

96
Q

Who was the black woman who headed the National Youth Administration?

A

Mary Bethune

97
Q

How many women did the WPA employ?

A

460,000

98
Q

How many women were employed by the CCC?

A

8000

99
Q

What does CIO stand for and when was it set up?

A

Committee for Industrial Organisation in 1935

100
Q

In 1937, how many strikes were there, and what % settled in the workers favour?

A

4700 - 80%

101
Q

What were weekly wages in 1929 and then 1939?

A 
1929 = $25
1939 = $23
102
Q

What was FDR accused of being?

A

Communist / dictator

103
Q

How much did the US states spend on welfare payments in 1930?

A

$9 million

104
Q

How much did the US states spend on welfare payments in 1940?

A

$479 million

105
Q

First New Deal

Who did the CCC aim their jobs at?

A

Unmarried 18-25 men who signed up for 6 months at a time for most environmental projects in National Parks

106
Q

First New Deal

How many people did the CCC employ?

A

2.5 million

107
Q

First New Deal

Who didn’t like the CCC?

A

Republicans thought it gave too much help to the people and was very costly for tax payers

108
Q

First New Deal

Why were a series of dams built on the Tennessee River?

A

To irrigate land, control water flow and provide building jobs, hydroelectricity eg. Fontana Dam

109
Q

First New Deal

Why was the TVA unpopular?

A

Unpopular with small electricity companies as it put them out of business as TVA were strong

110
Q

First New Deal

What did the EBA do?

A

Close down all banks and open 5000 trustworthy banks

111
Q

First New Deal

What did the Federal Deposit Insurance Corporation (FDIC) do in the EBA?

A

FDIC insured deposits up to $5000

112
Q

First New Deal

What did the PWA do and how much did they spend?

A

Built schools, dams, bridges, airports, spending $3 billion and providing short term jobs

113
Q

First New Deal

What did the AAA do?

A

Set quotas on agricultural produce to help reduce overproduction and raise prices

114
Q

First New Deal

What did the NRA do?

A

Improved working conditions, outlawed child labour, fixed wages, sensible production levels

115
Q

First New Deal

How many employers joined the Blue Eagle Badge Scheme?

A

2 million

116
Q

Second New Deal

How much did the FSA loan farmers and why?

A

Over $1 billion to farmers helping them during the depression and set up camps for migrant workers

117
Q

Second New Deal

What project of the FSA’s took how many photos of farm land?

A

The Farm Security Administration Photographic Project - 80,000 pictures

118
Q

Second New Deal

How many jobs did the WPA create in how many years?

A

8 million jobs in 8 years

119
Q

Second New Deal

What did the SSA do?

A

Gave financial help to the sick and disabled, provided pensions for the elderly and widows, set up unemployment schemes

120
Q

Second New Deal

What does SSA stand for?

A

Social security Acts

121
Q

Second New Deal

What is the National Labour Relations Act also known as? And what did it replace?

A

Wagner Act replaced NRA

122
Q

Second New Deal

What did the Wagner Act do?

A

Employers must allow staff to join unions, unions were allowed to negotiate better pay and conditions

History Big Questions (5 decks)

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