Wall Street Crash - Women Flashcards
What was the result in the 1928 elections?
In 1928 Herbert Hoover defeated Democrat Al Smith, a wet Irish Democrat.
How did the US population engage in buying shares?
20s - people buy shares and sell them, by 1929 1/5 of population involved. Speculation was buying shares + quickly selling off. On the margin purchases, paying 10% of share and rest in loans. Women spectators owned 50% of Pennsylvania Railroad.
What were signs of the economy failing and how did the Wall Street Crash occur?
500 banks failed annually.
By 1929 the wealthy had all bought consumer goods needed - poor couldn’t. $3 b spent on advertising 1929. Europe issued tariffs after 9 years of US doing it. 29 October 1929 - decline in stock prices, 13 million shares on market.
What were right and wrong things Hoover did?
Hoover did too little too late, national output halved. Believed in voluntary action.
Right action: Reconstruction Finance Corporation 1932 - Glass-Seagall Act community loans and Home Loan Act cheaper mortages. 1932 Emergency Relief and Construction Act - relief money to states.
Wrong action: Interest rates made borrowing hard; Hawley-Smooth Act 1930 raised import duties by 1/3; 1931 Hoover reduced federal spending; 1932 Revenue Act increased company tax.
What economic problems led to the development of the Depression?
- Decline in demand for houses, cars, and consumer goods -> unemployment.
- Farmer revenue, $22b 1919 - $8b 1928.
- Wage polarity rise, wealthy didn’t buy manufactured goods.
- High tariffs to foreign countries - unable to buy consumer goods.
- Loans to Germans reduced, Allies couldn’t pay war debts.
What was the impact of the Depression on women?
- Married women seen as getting ‘pin money.’
- 1936 82% in Gallup Poll felt women shouldn’t work but many breadwinners. Married women working rose from 11.7% to 15.6%.
- 2 mil unmarried women homeless, 1932. Female breadwinners took up lodgers and less opportunities for educated women.
- By 1940s 1/3 of white women in clerical occupations, only 1.3% of black women.
- Trade union membership 265,000 -> 800,000/
- 26 states to ban married women in work, only Louisiana passed law then made unconstitutional.
How did women in rural regions adapt?
. Women in rural regions often lost land due to mortgage foreclosures. Tobacco crops would be developed to generate cash.
What was the impact of the Depression on Mexicans and African Americans?
Mexican migrants faced hostility. In 1940 they were half the number there were in 1930 due to deportations. ADD
What was Eleanor Roosevelt’s background?
Compassion for others, worked in NY settlement house as teen. Remained concerned about rights for poor, suffering, and human welfare for women and blacks. In 1918 heard of Roosevelt’s affair with Lucy Mercer – secretary.
How did ER promote Ellen Woodward?
Eleanor Roosevelt had Harry Hopkins set a women’s division within FERA, the Federal Emergency Relief Administration, and appointed Ellen Woodward to head it. She set women from each state to work full time. Set Works Projects Administration in 1935 headed by Ellen Woodward in the women’s division and employing 460,000 women in 1936.
Who was Francis Perkins?
Francis Perkins, Secretary of Labour, was assigned in mid-1934 with chairing a cabinet committee to prepare social security legislation for Congress. This was the time to prevent future problems of unemployment. She had work experience as a labor lobbyist and industrial commissioner in NY and received sexist remarks from coworkers.
Which event inspired Perkins?
In 1911 the New York City Triangle Shirtwaist Company fire occurred with 146 women burned leading to reform and workplace safety. Perkins was inspired to work due to this and Mary Molly Dewson, head of the Women’s Division in the Democratic Party, promoted her. She felt middle class reformers could help the working class through legislation.
What positive changes did ER make for women?
Repealed Married Persons Clause of Economy Act passed 1932, in 1937, arguing many women worked to make ends meet. Held White House Conference on the Emergency Needs of Women, Nov 1933. Fair Labour Relations Act pushed 800,000 women to unions. Fair Labour Standards Act set max hour and min wages. Retail clerks/domestics excluded.
How were women limited by the New Deal?
progress was slow. 7% of jobs appointed by FERA-backed Civilian Works Association for women and 25% of National Recovery Administration jobs had min wage for women < men.
How did ER redefine ‘First Lady’?
Wanted to be an activist, first First Lady to hold national political convention alongside regular press conferences. She visited the country and was dubbed ‘Eleanor Everywhere.’
