The Great Depression Flashcards
(6 cards)
1
Q
Why did the Great Depression start?
A
Overproduction of consumer goods
Majority of people were in debt due to hire purchase
Banks were independent and unstable
Wall Street crash- 16 million shares sold
2
Q
How many people were unemployed in 1931?
A
50% of workers.
12,000 people fired per day
Due to deflation
3
Q
How many meals were given out at “Breadlines” in New York
A
12,000 per day
4
Q
How many farmers were evicted in the Great Depression?
A
1/20
5
Q
A
6
Q
What did Hoover do to tackle the Great Depression?
A
Cut taxes by $130 million
Made $30 million available to states to help the unemployed. It wasn’t used.
Hawley-Smoot tariffs caused exports to drop.
