Statistics - The Depression

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When did the Depression end?
1941 (WWII)
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3 American groups who suffered more than anybody else?
Immigrants, small farmers and African Americans
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What is the figure that most people say the unemployment figures were around?
12-13million
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Which group said unemployment was around 17million?
The American Labour Organisation
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Were there more people unemployed in cities or in the countryside?
Cities - more people there
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Number unemployed in October 1929?
1.5million
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Number unemployed in March 1930?
3.25million
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Name 2 cities for which you know the percentage of habitants were unemployed?
Toledo and Chicago
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% unemployed in Toledo
80%
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% unemployed in Chicago
40
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If you were African American, how many times more likely were you to be unemployed?
4-6
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Quote on African Americans
"They didn't even realise there was a Depression, they just thought the whites were catching up"
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Why was it shameful to be unemployed?
It goes against rugged individualism
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What percentage of people eligible for relief actually claimed it according to Forbes magazine?
25%
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How many states said that if you claimed relief, you would not be allowed to vote?
10
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How many people did not have enough to ear by 1935?
20 million
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Why was the Depression in America dissimilar to Germany in 1918?
No reports of cannibalism
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How many million men became hoboes?
1-2 million
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GNP in 1929
$103 billion
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GNP in 1933
$55 billion
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Average weekly earnings fell from __ to __ (1929-1933)
$25 to $17
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Number of banks in 1929 and in 1933
25,000 to 14,700
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Number of companies that went bust
20,000
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Why did farmers leave food to rot?
It cost more in petrol to take it to market to sell than what it was worth selling it
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What is it called when a farm is lost to the bank?
Farm foreclosure
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What made the countryside situation worse?
The dustbowl
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What caused the dustbowl?
Overproduction during the 1920's when every bit of land was farmed, combined with severe winds (up to 60mph)
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Which 2 groups migrated?
Okies and Arkies
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Which 2 states were these 2 groups from?
Arkansas and Oklahoma
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Number of Okies that migrated west (towards California)
300,000
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Farm prices fell on average by __%
60%
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Cost of wheat fell from __ to __ (per bushel)
$1.04 to 51c (per bushel)
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Number of young people that left school
300,000
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Suicide rate increased by __%
14%
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What was the TRADITIONALIST view on the causes of the Depression?
Hoover and international problems were to blame
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What was the REVISIONIST view on the causes of the Depression?
Hoover alone was to blame
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What was the POST-REVISIONIST view on the causes of the Depression?
A wide range of factors were to blame
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What did Hoover promise in the 1928 election?
A chicken in every pot, a car in every garage
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Year and month of the Hawley-Smoot tariff?
June 1930
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RFC stands for
Reconstruction Finance Corporation
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What was 1 of Hoover's key initiatives?
Voluntaryism
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What is voluntaryism
Not the government sorting out welfare
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What did POUR stand for?
President's Organisation for Unemployment Relief
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What did POUR do?
Set up soup kitchens using money from charity
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% that money in circulation fell from 1929-32
33%
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6 causes of the Depression
Wall Street, international problems, underconsumption-overproduction, mal-distribution of wealth, banking system and government policy
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5 reasons why the Depression was so severe
Hoover, banking system, spread and distribution, international scene, legacy of the 1920's
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Name of the farming act of 1929 and its effect
Agricultural Market Act - left huge surpluses in 1931/2
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What were the average duties on agricultural items due to the Hawley Smoot tariff?
40%
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How much did the value of trade fall between 1929 and 30?
$500 million
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How much did the value of trade fall between 1930 and 1931?
$1.2 billion
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How much did Germany have to repay in reparations?
$66 billion
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In which year was the gold standard abandoned by Britain?
1931
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What was the name of the central Austrian bank?
Credit Anstalt
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When did the bank collapse?
1931
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Ways the banking system was flawed?
Small, too many, unregulated, isolated, dishonest brokers, bought shares in anything
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Quote about the banks - with who said it
"The banks were rotten even in good times" (Kennedy)
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Wealth of the top __% equalled the wealth of the bottom __% together
top 1% and bottom 42%
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Manufacturing output increased __% during the 1920's
50%
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Exports increased (only) __% during the 1920's
38%
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Quote about consumption and production - with who said it
"The capacity to produce had outrun the capacity to consume" (Freeman)
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How much money was lost on the 24th October 1929 alone?
$4 billion
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Wall Street can be seen as the ______ cause of the Depression?
Trigger cause
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What was the value of all stocks in 1925 then in 1929?
$27 billion to $87 billion
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Quote about money - with who said it
"The stock market was a mountain of credit on a molehill of actual money" (Johnson)
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In what year was the Florida Land Boom?
1926
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What were the 2 programmes that gave money to Germany?
Dawes and Young Plans
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What proportion of banks were regulated under the Federal Reserve Board?
1/3
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How many banks collapsed in 1929?
629
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Why was there overproduction?
Assembly line, Taylorism, can't sell abroad
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How many people were below the poverty line during the 1920's?
70 million
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Quote about African Americans in the Depression - with who said it
"The reason why the Depression didn’t have the effect on the ***** that it did on whites was because the ***** was in Depression all the time" (Shuyler)
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Why was there no trade with Russia?
Communism
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Why was there no trade with China?
Political problems
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Why was there no trade with South America?
War
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What is the effect of a bank being too small?
It will go bankrupt quicker
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In what year was the McNarry-Haughen bill?
1926
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What would the McNarry-Haughen bill do?
Buy excess from farmers
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Why did Coolidge refuse the McNarry-Haughen bill?
He said it would lead to farmers producing more because they were guaranteed to sell it
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How many people left the countryside?
6 million
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What were the 4 industries that were not doing well in the 1920's?
Construction, coal mining, textiles, agriculture
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Why was the textiles industry not doing well in the 1920's?
Women were wearing less clothes - liberation
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3 reasons why agriculture was not doing well in the 1920's
Wheat competition from Canada and Argentina, no grain for alcohol, efficiency of machinery led to overproduction
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How many active speculators were there in the 1920's?
1 million
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Other cards in this set

Card 2

Front

3 American groups who suffered more than anybody else?

Back

Immigrants, small farmers and African Americans

Card 3

Front

What is the figure that most people say the unemployment figures were around?

Back

Preview of the front of card 3

Card 4

Front

Which group said unemployment was around 17million?

Back

Preview of the front of card 4

Card 5

Front

Were there more people unemployed in cities or in the countryside?

Back

Preview of the front of card 5
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