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History GSHS The Roaring 20s: USA > Poverty in the midst of plenty > Flashcards

Flashcards in Poverty in the midst of plenty Deck (7)
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1
Q

What % of the population in 1925 owned one third of the wealth?

A

5%

2
Q

Which groups fell into the poorer sections of American society?

A

Immigrants, farmers, African Americans and white workers in older industries such as coal mining, leather and textile works

3
Q

Total farm income was 22 billion dollars in 1919, what was it in 1928?

A

13 billion dollars

4
Q

Which new industries were competition for the coal mines?

A

Oil and electricity

5
Q

Why did leather and textile industries decline?

A
  • domestic competition from ne woman made materials
  • cheap labour in the southern states
  • wages didn’t increase in line with payments to shareholders
6
Q

In 1929’ what percentage of American families had an annual income of below $2,500 (minimum needed for a a decent standard of living - breadline)?

A

71%

7
Q

Why did farmers income decline after WW1?

A
  • demand for exports aboard declined as war ended
  • mechanisation led to overproduction and a decline in grain prices
  • Tariff barriers stopped exports abroad