Political Developments: Reasons for the Emergence of the Progressive Movement - Economic Problems

Question 1

What large Economic Problem was there in the early 1890s?

Answer 1

There was a Depression in 1893

Question 2

What was the impact of the 1893 Depression for Farmers?

Answer 2

They were unable to pay back loans and to pay for freight costs

Question 3

Why did many individuals lose money that they were saving due to the 1893 Depression?

Answer 3

Because many banks collapsed

Question 4

What 2 forms of businesses had emerged in the 1870s?

Answer 4

Trusts and Corporations

Question 5

Name the owners of 4 Corporations and Trusts present in the USA in the late 1800s

Answer 5

Vanderbilt, Rockefeller, Carnegie, J.P Morgan