1. Economic Downturn and Recovery Flashcards
(20 cards)
By the end of 1929, unemployment reached?, and by 1932 what was it
2.5 million, 13 million
What was the ratio of black to white people being unemployed?
In 1933
- 50% black unemployed
- 20% white unemployed
What was a Hooverville?
A shantytown built by homeless people during the Great Depression, named after Hoover to mock him and blame him for the economic crisis
What were conditions like for farmer’s during the Great Depression
- Poor farming methods exhausted the soil and the drought turned it to dust
- They had to pack up their things and find work in the fruit growing area’s along the West Coast
“Okies and Arkie’s” - Locals resented the migrants for “taking their jobs”
What was the impact on birth rates, marriages, and suicide rates during the Great Depression
- Marriages fell by almost 250,000 in 1932
- Birth Rate fell
- Suicide Rate increases to 17.4 per 1000 people
What were the events and consequences of the Bonus Army March?
- 12,000 veterans marched to Washington DC to ask for an early payment for their bonus, costing the government $2.3 million
- Hoover refused, labelled them as communists and the army were called
- A baby was killed and over 100 people injured due to the use of tear gas
- Mass unpopularity for Hoover
What was the famous slogan regarding dissatisfaction in Hoover?
“In Hoover we trusted… now we are busted”
What is Rugged Individualism and Laissez-Faire ?
Rugged Individualism
- A belief that people should succeed through their own efforts, without government help
Laissez-Faire
- A hands off approach where the government avoids interfering in the economy, supporting free markets with minimal regulation
What was the Hawley-Smoot Tariff Act 1930?
- Increases import duties however resulted in other countries refusing to trade with the USA
What were the results of the 1932 election between Roosevelt and Hoover?
- Roosevelt won by a landslide
- Only 6 of the 48 states voted for Hoover
What were the 3 R’s of Roosevelts New Deal?
Relief, Recovery and Reform
What were fireside chats?
- Roosevelt’s personal explanations of his policies on the radio to restore confidence
- His first fireside chat was about the banking crisis, assuring people and restoring confidence that banks would only open when secure
What was Roosevelts FERA
Emergency relief $500 million for unemployed
What was Roosevelts CCC
Creation of jobs for men aged between 18-25
What was Roosevelts NRA
Set fair prices, wages and working conditions
Who opposed Roosevelt’s New deal?
Huey Long, Politicians and the Supreme Court
What was Roosevelts AAA
AAA (Agricultural Adjustment Administration) –
Helped farmers by reducing overproduction. It paid them to grow less, so prices would rise and farmers could earn more. Part of the First New Deal.
What was Roosevelts TVA
TVA (Tennessee Valley Authority) –
Built dams and power stations in the Tennessee Valley, a poor region. It provided electricity, jobs, and flood control. Aimed at modernizing the area and improving lives.
What did the 1936 US v Butler case result in?
Found the AAA to be illegal
What damaged Roosevelt’s reputation in 1937?
He attempted to retire Supreme Court over 70 years old with supporters, deemed as unconstitutional and damaged his reputation.
