Today we are going to start presenting to the class and take notes on every ones subject.
1/20 we talked about the new forum posts that got put up and we also taught the new people how to add a project to their website and then we started taking notes on the presentations.
We talked about websites about how grading was going and what we should be doing to get the scores we want.
Notes
The four questions you will be researching are as follows:
1. What were the causes of the stock market crash of 1929 and the Great Depression?
The crash began on Black Thursday, October 24, 1929 and it dropped that day 11%. On Black Monday, October 28, 1929 the market fell another 13%. Lack of government regulation, buying stocks on margin. Pooling, over priced stock. That Tuesday the 29th the market took its final blow and fell another 11%, 16 million shares were sod that day. By 1930 between 6 and 7 million people were unemployed. The vicious cycle of the great depression, Unemployment meant fewer customers; a decrease in customers caused further cutbacks in production.
Bruns' Notes
Overspeculation during the 1920's, overproduction of goods, "Buying on margin", too much borrowing from banks, stock prices were grossly inflated, did not have real value, Federal Reserve increased interest rates, lack of government regulation.
More Causes - Bank failures, drought conditions, American Economic Policy w/ Europe like tariffs. People lost their money. Overproduction in industry and Ag. Farm crisis. The unemployment rate rose to 25%, wages fell 42%, economic growth fell 50% and world trade plummeted 65%.
2. What impact did the stock market crash and Great Depression have on the lives of people in the United States?
Impact on Stock Market Crash
As stock prices started to plummet, panic struck. Mass withdrawals, bank runs, no way to recover savings, 20,000 companies went bankrupt by investing on the stock market. Forced families in crowded apartments, women tried to find work, 1.4 of families didn't have one employed member, a total of 12 million people became unemployed. Hoovervilles were like cardboard houses pretty much, Riding the rails is when mainly teen would hop on trains and ride around to find jobs, 250,000 homeless teens rode the rails, railroad bulls would force people off and like beat them, health risks.
Kind of both
Starvation, and people avoided dental and medical care to save money. soil dust, suicide and crime rates went up and it was the largest increase that we have ever had.
3. What did the United States government do to help alleviate the problems the Great Depression brought to our country?
President Hoover
31st president born in West Branch, Iowa and he became president months before the stock market crash and don't think he was expecting that because the 20's were doing so well. Served as head of US Food Administration and Secretary of commerce. He was blamed for like money issues, poverty was bad, not recognizing the severity. Federal money. Laissez-fairre he should have let banks fail but as US president he couldn't. Tripe down theory approach down tax so much down on the rich like tax breaks on the wealthy. RFC.
Roosevelt-New Deal(Goals/1st and 2nd)
New deal time frame, stabilize banks like get them back on their feet, clean up financial mess, help farmers. Roosevelt's plan to get the country back in the right direction. Create agencies to make jobs, recognized right of workers to form Unions. Built roads, highways, bridges, schools, parks, theaters, etc. Relief- Temporary relief for citizens, recovery- Help economy, Reform- Fix causes of Great Depression.
How did the New Deal impact the following: unemployed, young people, factory workers/labor unions, farmers, elderly/poor, homeowners, artists/musicians, women/African-American/Native Americans, banks, stock market, energy
Unemployment's highest point was 25% that is when Hoover was president. The New Deal brought down that rate by 10% so the new deal helped people get jobs. Agencies, projects built, over 900,000 public buildings and then reasons for the buildings. PWA was a national industrial recovery act with large scale public works they worked. Works Program Admin. Coordinated public work schemes. CCC Focuses on men and taught them like forestry and stuff like that and employed 3 million or 300 million or something like that. Hoover Dam, Lincoln tunnel, and some highway.
New Deal Helping Factory Workers-Wagner Act National Labor Relations Act which guarantees basic rights of private sector employees to organize into trade unions and engage in collective bargaining when employee and employer meet to bargain or make a deal. Also allowed employees to strike if they think it is necessary. Fair Labor standards act of 1938, wages and hours bill, 44 seven hour day workweek, minimum wage, time and a half overtime for certain jobs. Roosevelt called FSLA most important piece of new deal legislation passed since SS act of 1935. Children under 18 can't do dangerous jobs and under 16 during school hours. Raise prices. PWA was construction agency like for dams and schools and it was to provide employment.
Young People- they had to defend/take care of themselves, teens would leave home cause they were tired of taking care of the family they also worked on construction and left school. Many schools shut down eventually. The teens would wander the world looking for work. CCC unemployed men families provided them w shelter, food and clothing for $30. Teens stole to survive if they did not have a job.
AAA paid them to produce less crops, FFB stabilized crops in like storage, SCADAA helped nutrients back into the ground after like dust or whatever. Corn, cotton, wheat etc. were common had to produce less price doubled in 3 years. Jobs-2.5 million people left and income doubled for farmers in ten years, some lost their farms.
Elderly-SSA tax year age 65 or Jan. 1st 1942, old age assistance=payments to aged individuals, poor houses. They weren't working anymore so they weren't bringing in any money. old age reserve account June 30, 1937. Overall-savings are pry gone from the crash, dependence on family. hard work doesn't guarantee financial security and most expected government to assist.
Poor- breadlines, soup kitchens, need from unemployment, operated churches charities and government. hoovervilles were settlements of like shacks full of poor people. Hoover blankets, leather, flags. homeowners refinancing act how many years you have to pay off your house and like how you finance your house and farm credit administration so they wouldn't have to sell everything and get rid of cattle.
All new deal programs helped the poor.
Home Owners-Couldn't pay for houses and became homeless. National Housing act helped stop bank foreclosures on family homes. made homes more affordable. insured saving on loans. US housing authority designed to lend money to to the states for construction.
Artists and Musicians- Artist- exploration and they wanted popularity, they were hired by the government under the new deal to create jobs and art was finally redeemed worthy, Visual arts arm, FAP goals were to get them to paint again. Musicians- FMP employed them and got them on their feet again. Concerts festivals, music lessons. Make them happy and educated and equality, children got into it and learned about it all. It was a distraction from the depression.
Women- Boys got educated, women worked together and stayed at home, Men work. FERA Elanor Roosevelt supported it and it brought families together and provided work and loans. WPA wanted as many women to get jobs as possible. Paid 31 cents an hour in lunchrooms at school. they would garden and can in the summer. 1,000+ were employed as housekeepers. African Americans also they worked in cotton fields which they worked a lot and got paid little and 709 women held jobs. Blacks had less. Provide money sponsors. Women were forced to find jobs, it was life threatening, kids were left alone.
Stock Market- Buying on margin, not enough money to buy stocks, use some of own money then borrow rest from stock broker, lead to overpriced stocks, it took 22 years for stock to be above levels in 1929. they receive financial info for security, prohibit fraud. Enables investors to make judgement about buying securities, investors who have losses can try to prove there was inaccurate info. Little support for federal regulation of securities market before the crash of 1929. US securities responsibilities- interpret and enforce laws, new rules and fix old ones, oversee inspections of securities firms and coordinate stocks. SEC regulated stock.
Banks- withdrawal restrictions, closings and failures, three day periods which was where the banks closed for three days to cool off. Limits were low, lost funding and insurance on business, FDIC doesn't insure credit unions but does insure people's money up to 250,000 now.
Native Americans- Indian Defense association i cant see the board, he worked on Indian issues for years. Indians who sold their land didn't get much value for it and they were put on reservations.
Energy- Problems were farmers they tried to move into cites to find jobs and it got overpopulated and it didn't work out. REA. TVA was the tendency of i have no clue. It had an immediate impact on farmers it built dams and made fertilizers for the ground. EHFA appliances for home and loans, low financing.
4. What long lasting impact did the Great Depression have on Shelby County, Iowa, the US and world?
US-businesses perished during this time look on my power point for notes. most of us was living in hoovervillies.
World- look on power point. France over threw the gov. popular front. Germany had to pay reparations to other countries. weak gov. Hitler was savior. Japan no natural resources, and invaded china. Germany and Italy alliances for WW2. Soviet Union wasn't as affected Joe Stalin got control of Russia and started the great purge and had like concentration camps and killed a lot of soviets even rivalries. Great Britain depended on exports and then high unemployment.
Iowa- look on power point. farmers were already struggling in the 20's and during WW1 they worked to produce record setting crops. dirty 30's crops were destroyed heat dryness and grasshoppers.
Shelby County-mine.
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