Effects of the Wall Street Crash

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  • Created by: Nika Nerd
  • Created on: 23-03-14 17:13
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  • Effects of the Wall Street Crash
    • SOCIAL
      • DEBT
        • Borrowed money to buy shares that they can't pay back
      • Job loss
        • 1933- 14 million unemployed
        • 1932
          • Cleveland- 50% Unemployed
          • Tolerado-80% unemployed
      • Wages fell by 60%
      • Industrial/ farm production fell by 40%
      • Total farm income went to $5 billion dollars
      • Farmers unable to pay morgages- refused to let banks take their homes
      • Dust bowl farms- unused land turned to desert
      • Farmers move to California looking for work
      • Americans found it hard to accept charity
      • Hooverville- shanty towns
      • Looked for food in rubbish tips
      • 1931
        • 238 in hospital for starvation/ malnutrition
        • 45 died
    • ECONOMIC
      • Taxes cut
      • Lack of share confidence
        • Billions withdrawn
        • Kept money instead of investing
      • Banks going bankrupt
        • 1929- 659
        • 1930- 1352
        • December 1930- Bank of the United States
          • 400,000 depositers
          • 1/3 of New Yorkers saved in it
        • 1931- 2294
          • Issues with European banks
        • 1933- 5000
      • International trade
        • 1929- $10 billion
        • 1932- $3 billion
    • POLITICAL
      • Hoover
        • Prosperity 'just around the corner'
        • 1932
          • Refused to accept that there was a major problem
          • Blocked Garrer- Wagner relief bill
            • $21 billion to create jobs

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