USA Topic 1 - Economic downturn and recovery Flashcards
What were the events on the 19th of October 1929
- 5 million shares were brought and sold due to panic selling
What happened on the 24th of October 1929
Commonly known as Black Thursday nearly 13,000,000 shares were traded and share prices collapse
What figure did unemployment rise to in 1932
13.5 million
How are black Americans discriminated during the great depression
Black Americans were sacked first
What percent of black Americans were employed by 1933
50%
What percent of white Americans are unemployed by 1933
20%
How did the Great depression impact farmers
They couldn’t sell their produce
What states are worst affected by the 1933 drought
Oklahoma Colorado New Mexico and Kansas
What was the effect of the drought
Soil turned into dust causing 20 million hectares became known as the dust bowl
How did the Great depression affect family life
The number of marriages fell
Schools were closed
Suicide rates increased
What were Hoovervilles
They were homes made of tin wood and cardboard for Americans who had lost their homes during the depression
Who are bonus marchers
World War I veterans who had been promised a bonus for serving in the war however they wanted it to be given in 1932
How many unemployed veterans marched for early payment
12,000
How many bonus marchers died during their protest
Two veterans
What is rugged individualism
The Republican belief that individuals are responsible For their own lives without help from anyone else especially the government
What is the Laissez - faire
Republican belief that people should help themselves rather than be helped by the state
How much did Hoover cut taxes by
US$130 million
Give an example of a 1932 policy
The emergency relief act
What was the emergency relief act
US$300 million to state government to help unemployed
Why were Hoovers policies uneffective
They were too late and failed to counter the effects of the depression
What were the results of the 1932 presidential election
Roosevelt won by a landslide as Hoover only won six of the 48 states
Why was Hoover unpopular by 1932
Hoover had been blamed for the depression
The treatment of bonus marchers
Blamed for the effects of the depression
What was Roosevelt’s appeal
Roosevelt created a mood of optimism to break cycle of despondency
The new deal would create jobs
Roosevelt had overcome polio
What was the new deal based on
The three R’s
Relief recovery reform
