1415009
Description
Flashcards by Emily Faul, updated more than 1 year ago
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Created by Emily Faul
over 9 years ago
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| Question | Answer |
| What date was the Wall Street Crash in 1929? | Black Tuesday, October 29th 1929. |
| What role did overproduction by the large industries play in the Great Depression? | The people were unable to buy things because of the bank crash and the stock crash, and therefore the larger industries were unable to sell off the massive amounts of products they were making, and thus loss money. |
| What role did overproduction by the farmers play in the Great Depression? | The farmers had spent money mechanising their equipment and expanding their land so that they could produce more goods during WWI but when the war finished they had major amounts of food that they were producing that were not being bought and therefore they couldn't pay off their debts for the machinery. Also, due to the people being unemployed and without money, the farmers goods were not being bought and thus prices were lowered, which negatively affected the farmers because they got less money for the little goods they did sell. |
| What was the main cause of the Great Depression? | The Banking System. Due to the fact that most banks were small and independent in America, when the market crashed and everyone went to take out their money, the banks had no money left to give and thus went under. |
| Explain conditions for the African Americans in the Great Depression. | They were particularly badly affected. For example, in Chicago, they made only 4% of the population however they made up 16% of the unemployed. |
| Why were unemployment rates so high? | The workers became unemployed because when the prices dropped for the industries, they laid off their employees to keep from going under. As prices continued to drop, people continued to become unemployed and by 1932, 10 million Americans were unemployed. |
| How were other countries (for example, Germany) affected by the Great Depression? | Germany had to pay over 33 million dollars worth of reparations to Britain and France and thus borrowed money from the U.S when they couldn't afford to pay back their debts. When the U.S economy crashed, it began a ripple effect. Germany no longer got money from the U.S and went under, and Britain and France went under without Germany's payments as well as losing their own loans from America. |
| What happened to world trade because of the Great Depression? | It fell as people could not afford to export goods. Additionally, America raised reactionary high tarrifs, to which Britain, and many other countries responded with their own as they thought it was a defensive move. The move was simply to protect America's industry, but when other countries followed suit, international trade ceased. Thus, people could not access French wine, American goods, Brazillian coffee, etc. |
| What were conditions like in the Great Depression? | Self esteem lowered, suicide rates increased dramatically, there were extremely long breadlines and lines at relief agencies, as well as at unemployment offices. |
| What did Herbert say of the government attempts to relieve the people of the Depression? | "Use the powers of government to cushion the situation." |
| Explain what role the previous WWI veterans played in the Great Depression. | In May-July 1932, they ran a Bonus March, which they protested to get the relief bonus they were supposed to be paid in 1945 early. |
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