We started presenting today.
1. What were the causes of the stock market crash of 1929 and the Great Depression?
Stock market- when they lose money you lose money, When they gain money you gain money.
Main causes- buying on margin(they would borrow from a broker), overproduction and underconsumption of goods(the wealthy were the only ones buying goods, businesses kept producing goods, stock went down), banks investing(took people's money, invested it in the market, started losing money, ended up closing), stock pools and watered stock(Wealthy people would buy stock for little cost, cause the price of stock to rise, sell stock at very high prices, didn't reflect business)
They had an unrealistic view of the marked, They had a weak banking system. The federal reserve system, when the bankers need money they go there to get money.
2. What impact did the stock market crash and Great Depression have on the lives of people in the United States?
Wealth and peace, Cities, Agriculture, and stock exchange. People started to move to places that have better job offers and it hurt the farmers. There was panic because of the withdrawing funds that the bank did. Black Tuesday was October 29, 1929 we lost 14 billion dollars that day and 30 billion that week. Some impacts were steel, construction, car sales, high debt and unemployment.They had to start selling everything because of people not having jobs because businesses having no money.
The vicious cycle of the great depression- when businesses were laying off people because no one was buying goods, and then people had no money and businesses lost money and some even closed.
What were the causes of the Great Depression?
The Stock market crash of 1929, Black tuesday marked the start of the depression. People had faith in the stockmarket so they invested quickly. When people couldn't pay back the loans they had to sell everything. Bank failures, they never thought that the stock market would fall so people didn't insure their bank accounts. Over 9,000 banks closed throughout the 1930's.Unemployment rose above 25%, people from all classes stopped purchasing goods. Smoot-Hawley Tariff of 1930 was to help protect farmers against agricultural imports. Droughts caused people to not be able to pay their debts.
The impacts of the great depression
Unemployment normally the white men had higher paying jobs. Discrimination was a huge deal. Many people lost their houses. Boxcar children were teens who left their homes to go on trains to help their parents out by giving them one less mouth to feed. Farmers ended up going bankrupt and they lost their farms. The dust bowl was terrible for their crops. People were starving, in 1931 20 deaths, and in 1934 there were 110 deaths in New York from starvation.
3. What did the United States government do to help alleviate the problems the Great Depression brought to our country?
President Hoover
Laissez faire- let alone, No government interfere with businesses.
Gave loans to banks state and local governments and business' to creat jobs for people/ Fave states loans for emergency relief needs started under hoover not as successful as hoover hoped dissolved in 1946 after WWII
Rugged Individualism- people should fend for themselves
Trickle down theory- give tax breaks to big business owners
Roosevelt-New Deal(Goals/1st and 2nd)
How did the New Deal impact the following: unemployed
young people and the energy-Power Point
factory workers- Dirty crowded and dangerous, factory jobs were low paying and unethical, children were working just as long as days as their parents.The NIRA was designed to allow businesses to set their own standards of production prices and wages. Guaranteed collective bargaining rights to the workers. The Wagner Act gave people the right to engage in collective bargaining for better terms and conditions at work. Guaranteed basic rights of employees to organize into trade unions. Gave people the right to take collective action. The Fair Labor Standards Act, the FKSA introduced a maximum 44 hour seven day work week, established a national minimum hourly wake at 15 cents, banned child labor.
labor unions- Organization of workers formed to protect their rights and interests, The number of labor unions were going down,
farmers-overproduction of crops Agricultural adjustment act(AAA), Rural Electrification Act(REA).Farm Security admin. and Farm Tenancy act all helped the farmers out.
elderly/poor- There was Social Security, Social Welfare Benefits, Elderly Assistance Program that helped the elderly out. For the poor there was charity, SS, health care, and long share our wealth program that pushed for redistribution and benefits for the poor.
homeowners, artists/musicians- There were many problems with banks and the problems caused many banks to shut down and koose the money that other people owned. Many homeowners were affected by the new deal because there money was disappearing and they weren't able to pay for the homes. Many families lost there homes and had to live on the streets. Hoover thought he was helping with all these plans he had but he was just making it all worse. The Homeowners act helped the banks out and helped them refinance their banks with money so homeowners were able to pat for their homes again. This act also fave each home owner a 15 year guarantee of loans.
Since the banks were shutting down many of the musicians weren't earning enough money, music was basically falling apart, nobody wanted their music. The federal music project helped musicians become employed and earn money, music started to come back and musicians were making money again
Many artists kept painting but nobody wanted their paintings since nobody had money. Many of the artists would have other people come in and help them paint. Then they would sell their paintings and split the money.women/African-American/Native Americans banks stock market
4. What long lasting impact did the Great Depression have on Shelby County, Iowa, the US and world?
Iowa- The farmers prices dropped to an all time low. They were over producing, the farmers decided that they were tired of the prices to going down. They had a farm strike, which is where they stop sending goods into town. The government finally stepped in in 1933 and paid them to produce less than what they had been. Towns and cities suffered too they had soup kitchens. The WPA, CCC, PWA all helped them out.
Japan- economy shrank 8% affected by the depression in 1932 not directly affected.
France- wasn't directly affected until 1930 overvalued currency political unrest.
Britain-through the 1920's they were struggling already from WWI. By 1930 unemployment more than doubled by 20% They were impacted by the Great Depression but they weren't as bad as we were.
Germany- The Great Depression in germany eventually brought Hitler and the Nazi party on.
The Great Depression didn't just affect the us it affected the whole world. It brought Hitler and the Nazi party on because people wanted change.
The soviet union was not as impacted by as people were
Japan- they have very few resources and they depend on imports and suddenly they didn't have anything so they invaded china. they bombed pearl harbor to force us to trade with them.
Shelby county- lots of people were loosing their farms, a little over half were losing their farms they were mad at the government because they wanted to help but the farmers wanted to keep their farms to themselves. In the city areas more than half the people lost their jobs all the smaller towns were pretty proud so they didn't want help from the government but eventually they needed food so they had to join breadlines. The WPA paid a dollar for digging cricks. Some everyday life that changed was nobody spent money, no new clothes, no new livestock, no public events, and more than half lost their jobs. To make money some people milked cows and feed hogs using troughs. Cars, everyone had cars before, the drug store gas cost stamps and people could not but tires. Farms, their values were cut in half in 10 years, Hoover's speech in Des Moines he farmed in Iowa until he was 10 years old. Everything was drying up. Earling bank, a number of merchants in Earling have invoked the form of I.O.U, they were limited to strictly local use. Weather, Dust storms weren't really a big deal in Iowa, Extreme weather changes. Highs and lows, causing 7 deaths in harlan, the crops. The droughts were horrible, the farm and crops would dry out, they dug thousands of wells.
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