Revision for the Effects of the Depression

Revision for the Effects of the Depression

History Revision
The Effects of the Depression
1929 | ½ million unemployed |
1929 | 1 million lost homes |
1929 | Vanderbilt lost $40 million |
1932 | 12 million unemployed (40 million affected) |
1932 | 20000 US businesses folded – some investors committed suicide |
1929 – mid 1932 | 5000 banks folded – lost >3.2 billion in deposits |
Summer 1932 | 20000 Bonus Marchers outside the White House(Lost popularity and contributed to loss in 1932 election) |
1929 - 33 | National Income from $80 billion to $40 billion |
1929 - 33 | 100,000 businesses bankrupt |
1933 | ¼ of workforce unemployed (13 million) |
1930 | Farm prices fell 60% |
1930s | Marriages delayed = birth rate fell + death rate rose |

Hoover’s Failures
1930 | Tax Reduction to increase spending power |
1930 | $4000 million given to states for relief |
1931 | Home Loans Act (help with mortgage payments) |
1931 | 1-year suspension on war-debts (increase worlds spending power) |
1931 | Expansion of public works (Hoover Dam) |
1931 | Reconstruction Finance Corporation (some loans to firms) |
1931 | $1500 million to businesses |
1932 | Emergency Relief Act - $800 million to states for the unemployed |

Franklin Roosevelt
1930 | Popular Governor of NYC |
Winter 1931 - 32 | Increased tax to provide $20 million for emergency relief (first state-run relief effort in USA) |
1932 | Election promises – Immediate action, relief and help for small banks + home owners, prohibition ended, flexible approach for practical resultsOffered a ‘New deal for America’ |
November1932 | FDR sweeps to power (Democrats) – 22 million votes (57%) + 42/48 states – Landslide=majority of support (Hoover = 15 million, 40%, got 58% in 1929 election) |
December 1932 | Prohibition ended (FDR appealed 18th amendment) |
Relief | To help improve the lives of people |
Recovery | To begin to rebuild US industry and trade |
Reform | To change conditions to ensure future progress |...

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