History America 1918-41
How much did wheat prices fall in 1923?
Fell by 50%
What was the outcome of the dust spread?
Red Snow and displacement of 500000
What did the blacks do despite the challenges faced?
Rent parties
What increased inequality during the Boom?
Republican policies
5th September 1929?
Roger Babson predicted crash causing index to fall
On what road did people travel to work picking fruit?
Route 66
What led to the unequal distribution of income?
Rugged Individualism, low taxes and trusts
What did Ford do after the Crash?
Sack half of its workers and dropped wages by 50%
Why did overproduction happen?
Saturated market
What did countries in Europe rely on?
Self- sufficiency
What fraction of the federal reserves were the banks?
one third of banks
What was the Federal farm Loan Act?
provided farmers with $125 million at low interest rates
What happened in 1929 before the crash?
A recession
How many banks collapsed during the years of the boom?
500 banks each year
What percentage did bankruptcies increase in 1924 by?
500%
How many Mexicans went back to Mexico?
500,000
How many veterans stayed back?
5000
How many farmers lost their jobs in 1924?
600000 farmers
What was the interest rate of speculation money that was loaned?
7% to 12%
What was the phrase Hoover was mocked for?
"Prosperity is just around the corner"
What did economists describe the market as?
"a permanently high plateau"
How much did Union Carbide increase to in 6 months?
$145- $413
How much money did Rockerfeller lose?
$160 mill
How much did the Reconstruction Finance Corporation provide?
$2 billion
How much money was lost in savings?
$2.5 billion
Ho much US Steel fall from 1929 to 1932?
$262-$22
How much did trade fall from 1929 to 1932?
$36 - $12 billion
How much did GE fall in 3 months?
$396-$168
How much did the National Credit Corporation raise?
$500
How much was the bonus for War Veterans?
$625
How much did farming income fall from 1919 to 1928?
$9 billion
How many Americans were known as "Hobos"?
1 million
How many factories closed down by 1933?
70,000
How did on margin work?
90% of the share with the share itself as security
How were prices further increased in the last periods of the boom?
A bull pool artificially boosted prices
How many Americans faced financial ruin?
1.5 million
How many farmers lost their land?
1/3
How much did the Dow Jones average increase by?
10 fold in 9 years
How much relief was given out?
10% or $300m
What percentage of the population left for California from Oklahoma?
15%
How many storms and black blizzards happened?
179 and 38
The table from 1929 to 1933?
1929 1933 Unemployment 3.2% 24.9% Retail sales $48 billiion $24 billion Farm Income (per day) $2.30 $1.15 Overseas Trade $10 billion $3 billion Gross National Product $103 billion $55.6 billion
What made the depression worse?
1930 Hawley- Smoot Tariff Act
How many people migrated from rural to urban areas?
2 mill
How many people owned shares by the end of 1929?
20 million people
How many children did not have any food in 1932 in New York?
20,000
How many children had leave their home?
20,000
How many people marched on Washington?
20,000
What percentage of women lost their jobs?
25% and 1/2 of the black women also lost jobs
What percent of national income went to the richest 5%
32%
How did the index fall from September to Black Tuesday?
381 to 230 to 41
How much did prices fall for farmers after 1929?
40%, income went $6 billion to $2 billion
How many people were part of the Black Shirts campaign?
40,000
How many businessmen were asked to not to cut wages?
400
How many banks collapsed in 1933?
4000
How many depositors were with The Bank of US in New York when it collapsed in 1930?
400000
How many Americans lived below poverty line?
42%
How much did unemployment drop in steel and car factories?
50%
What resulted in the order by Hoover to disperse the crowds?
An eleven year old boy was killed
28th October 1929?
Black Monday, index lost 38 points
24th October 1929?
Black Thursday, lost 11% of value Banks intervened to boost confidence
29th October 1929?
Black Tuesday, index lost 30 points 16 mill shares traded
Which communities faced the most unemployment?
Blacks and Immigrants
What did Hoover do that was disliked by many?
Blocked the 1932 Garner - Wagner Relief Bill
Which president vetoed the Congress Legislation?
Calvin Coolidge
What did Britain do under the difficult circumstances?
Chose the system of Imperial preference
What industries went in decline in 1928?
Construction, farming, coal and textile industries declined throughout the boom?
What did the US do for its competition to increase from Canada?
Export less food
What did Congress do?
Fund their trips home
Which President was blamed for the Depression?
Herbert Hoover
Which president came into power towards the end of the Boom?
Herbert Hoover
What were the shanty towns called?
Hoovervilles
What did the US and Europe do about the start of the depression?
Increase tariffs to protect industries
June 1929?
Industrial output fell and experienced investors sold shares
Where was it hard to grow crops?
Kansas and Oklahoma
What mistake did the banks make?
Loaning money to Europe and investing in speculative project
What did the workers face during the Boom?
Long hours of work and poor conditions
What led to the collapse of consumption?
Loss of money on shares and banks
What caused overproduction of crops in 1923?
Mechanisation and use of pesticides
What were the poor immigrants known as?
Okies
What happened in 1930 that was caused by over farming?
Soil erosion and then caused dust storms
What did the people rely on during the Depression?
Soup kitchens and relief
What did the government do in 1930?
Spend 210 million on public works
What was done to boost consumption and investment?
Taxes were cut in 1930-31
What helped farmers to buy crops after during the Depression?
The Agricultural Marketing Act
What did people being unable to repay loans cause?
The bankruptcies
What caused US loans to end with Europe?
The crash and this caused europe to go into a depression
What was Laissez Faire?
Where the government could not intervene the economy.
What happened to the birth and suicide rates?
decreased and rose by 14%