What were the causes and impacts of the Depression?
Who was most to blame for the Great Depression?
President Hoover
When did President Roosevelt take office at this time?
March 1933
Why were people forced out of their homes?
They were forced out because they couldn't pay their rent or mortgage leading them to live in public parks and wastelands.
Due to the circumstances, who were really desperate at this time?
African Americans
What economic crisis did Hoover face once he became president?
the form of the Wall Street Crash of 1929
What is it called when the prices dropped in manufacturing and agriculture during this time?
Deflation
In how many states did the banks closed when Roosevelt inaugurated as president?
In 32 states
What was the name of the wastelands that people moved to when kicked out of their homes for not paying rent or mortgage?
Hooversville
What happened when a man was out of work?
There was no system of unemployment benefit to enable him to feed his family or pay rent
What did the founding fathers not expect?
They did not expect how the US economy would develop
What did some historians and economists think the main cause of the Great Depression was?
They argued that the Great Depression was caused by the long term, deep rooted factors where there was no immediate control.
What did investigations by the Senate reveal?
Corruption and incompetence of wall street and the New York stock exchanged closed
Why did Hooversville disappear?
It disappeared when Roosevelt introduced the New Deal in 1933
What happened in the South?
White workers harassed and threatened companies
What did some historians argue about Hoover?
They argued that Hoover was in fact right to be concerned that presidential influence would not help
When was the U.S. Economy being damaged due to the spending of American people and fallen prices?
1930
What happened to the States limited Welfare funds?
It ran out
Aside from farmers and factory workers, who else suffered the most too?
Lawyers, bankers, factory managers, and teachers.
Why did unemployed white workers threaten companies?
Because they employed black workers instead of out of work white workers
Who did Hoover try to convince but failed?
He tried to convince the Federal Reserve Banks to increase the supply of money in the economy
Who lost their savings in the crash when their banks failed?
Retired people
Why were people protesting in rural areas for?
They were protesting against evictions for non-payment of mortgages.
What was the estimate of people living in poverty?
50-60 million
Who else did companies hire during this period?
White migrants and women
What act did Hoover sign in 1930?
The smoot-hawley tariff act