THE WALL STREET CRASH, GREAT DEPRESSION & 1932 ELECTION FLASHCARDS
(35 cards)
Which Republican candidate was elected President of the USA in 1928?
Herbert Hoover
In what month and year did the Wall Street Crash occur?
October 1929
What was the impact of the Wall Street Crash?
The American economy collapsed and fell into depression.
On average, how much did wages fall by between 1928 and 1932 (%)?
60%
By 1933, how many banks had closed?
10,000 banks
What effect did the collapse of banks have on those who saved with the banks?
Their savings were lost
How many people were unemployed in America by 1933?
14 million, which was one third of the adult working population. (In some places, unemployment was as high as 80%)
Where could the poorest in society queue for food during the Depression?
Soup kitchens run by charitable organisations
In 1932, how many Americans had their homes repossessed?
250,000
What was the name given to the shantytowns that emerged in US towns and cities during the Depression?
Hoovervilles
How much did industrial and farm production fall by between 1928 and 1932 (%)?
40%
What happened to the USA’s international trade between 1929 and 1932?
It fell drastically from $10 billion to £3 billion
What proportion of farmers lost their farms?
One-fifth
Give two causes of the dust bowls in the southern states.
- Over-farming of land
2. Severe drought
What impact did the dust bowl have on millions of farmers in southern states?
They were forced off their land and had to move to find work.
Between 1929 and 1933, how many businesses went bankrupt?
100,000 businesses
On average, how much had prices dropped by 1933 (%)?
50%
What nickname was Hoover given during the years of the Depression?
A “Do Nothing” President
What did law did Hoover pass in 1930 to place even higher tariffs on imported foreign goods?
The Smoot-Hawley Tariff Act
How did other countries respond to the higher tariffs rates placed on imported foreign goods to the U.S.?
They introduced even higher tariffs making it harder for the USA to export goods abroad.
Who did Hoover and the Republican Party believe should be responsible for social welfare and relief?
Local governments or charities, not the federal government
What law did Hoover block, which would have allowed Congress to provide $2.1 billion to create new jobs?
The Garner-Wagner Relief Bill
What event took place in June 1932?
The Bonus March
Who marched on Washington D.C. in June 1932?
World War One veterans (ex-soldiers)
