The Wall Street Crash of 1929 (Grade 11 NSC Matric History): Flashcards
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Practise the cards
10 cards from this deck
Date of 'Black Tuesday'
Date of 'Black Tuesday'
29 October 1929
Shares sold on 24 Oct 1929
Shares sold on 24 Oct 1929
13 million
What were 'Hoovervilles'?
What were 'Hoovervilles'?
Shantytowns named after Hoover, housing homeless families
Banks that failed by 1933
Banks that failed by 1933
4,000 banks
National income decline by March 1933
National income decline by March 1933
50%
Unemployment rate in some areas
Unemployment rate in some areas
One quarter (25%)
Average weekly relief payment
Average weekly relief payment
8 per week
Wealth inequality as crash cause
Wealth inequality as crash cause
Businesses kept prices high, wages low
How banks created the crisis
How banks created the crisis
Lent to unqualified borrowers, used deposits for speculation
Agricultural decline cause post-WWI
Agricultural decline cause post-WWI
Surplus drove prices down