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History📖(1920's America) > Effects Of The Crash > Flashcards

Flashcards in Effects Of The Crash Deck (12)
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1
Q

What happened to many people who had borrowed money?

A

Couldn’t pay banks back so homes were repossessed

2
Q

What did some investors do?

A

Commit suicide

3
Q

How many companies went bankrupt between 1929-1933

A

100,000

4
Q

What happened to many banks?

A

Went out of business

5
Q

How much money did the Vanderbilt family lose?

A

$40 million

6
Q

How many people were unemployed by 1932?

A

12 million

7
Q

What did homeless people do?

A

Built temporary shelters in parks called ‘Hoovervilles’ after Herbert Hoover who many felt was clueless

8
Q

How many banks closed 1929-1930?

A

700

9
Q

By 1933 how many of the work force were unemployed?

A

1/4 (13 million)

10
Q

What happened to agricultural products?

A

Income dropped 60% due to over production and declining demand many farmers went into debt and were evicted

11
Q

What happened to national income by 1933?

A

Gone from 80billion to 40 billion

12
Q

What were some examples of poverty that the depression caused?

A

Undernourishment
Thousands made homeless and living in shanty towns called Hoovervilles
Many moved to seek work