today we are going to start the project presentations
1. What were the causes of the stock market crash of 1929 and the Great Depression?
-began Oct 24 1929, stock market dropped 11% and then 13%, business people weren't getting there money, Lack of gov regulation-had no rules with watching over the stock market, buying stocks on margin, pooling, over priced stock
-Oct 29 when it finally dropped, fell another 11% , 16 million shares were sold
-millions of people were unemployed, so people dont buy goods and so businesses dont have money so then they lay off people and then more get unemployed and so the more people dont make money to buy things
-cycle of the great depression kept going and going so finally about 12 million people were unemployed in 1932
-low interest rates in the 1920, banks made it easy for people to borrow money but then people weren't paying back their money
great depression
-stock market crash caused it- people lost their jobs and money in the banks
-bank failures-they were uninsured,
-everyone at the bank lost their savings
-american economic policy with Europe- Smoot hawley tariff to help protect american companies.
-drought conditions, farmers couldn't pay their taxes
-over production in ag
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2. What impact did the stock market crash and Great Depression have on the lives of people in the United States?
-mass withdrawals
-stock prices started to fall panic struck
-no way to recover the savings, 20,000 companies went bankrupt from investing in the stock market
-forced families into tight living spaces
-men lost jobs, women tried to get jobs
-12 million people became unemployed
-hoovervilles is where people lived in little shacks, it was a burn to the president
-teenagers would jump on the trains to find jobs and some girls dressed up as boys to get jobs
-railroad bulls, would pull the people off the train and if they didnt they would kill them
-health risks
-people died of starvation
-to save money people got rid of their dental and medical care
-suffered from diseases
-herbert hoover said nobody is actually starving. the hoebos are eating better than ever
-children didnt have proper clothing and many people were homeless and kids had to be taken out of schools and the school shut down.
-farming, populations changed from rural to urban
-farmers went and killed some of their livestock because they were to expensive
-lot of farms were lost
-farmers abondoned fields due to the dust bowl
-soil and dust being blown
-seen across 7 states
-people would choke to death because of the dust bowl
-last a decade
-people were commiting suicide more and more
-people would steal more
3. What did the United States government do to help alleviate the problems the Great Depression brought to our country?
President Hoover
-31st president, he didn't keep his promises from his campaign so thats why people didnt like him
-blamed for poverty, he didnt like to use our money to help people out
-he didnt realize how bad the poverty was
-hoovervilles
-believed it wasnt the gov responsibiloty to give peopel money/
-laissez failre=gov stay out of businesses affairs/hands off
-trickle down theory=
-rugged individualism= bust your tail, individual work,
-didnt like to use federal money b/c it was businesses faults they failed
-RFC=gave loans to banks and other businesses to create jobs for people (Herbert hoover started this) ended after WWII
Roosevelt-New Deal(Goals/1st and 2nd)=to get everything back on the right track FDR
-(helping the banks and economic system on track) 1st 1933-1934=4 major goals=stabilize banks,clean up the financial mess from the crash,help farmers
-2nd1935-1936=aimed to help people in need
-the deals are pretty much the same
-helped every state,town and community
-inspired a civic, cutural and economic renaissance
-created agencies to create jobs for people
-built highways and bridges
-schools, theaters,libraries,city halls,homes, parks, post offices, and airports
-the 3 R's=relief, recovery,reform.......temporary relief for citizens, help economy, fix causes of great depression
-2nd part=still part of original deal
-imporived use of national resources,security agianst old age, unemployment and illness, slum clearance
How did the New Deal impact the following:
unemployed- 25% in 1933, 6 agencies that helped unemployment by building buildings, also helped get other businesses money because they needed lumber and metal and things to build the buildings with.
-WPA it employed millions of men with construction projects, built 70% of schools and hospitals and roads
-CCC- took men to the forest by teaching them about fires and safety and they built parks and thats how they employed people
-hoover dam 20,000 were employed
-Lincoln tunnel
young people- had to take care of the famlies while the older ones stayed home and took care of kids, young people would leave home looking for work
-they had to leave school
-schools shut down
-NYA-provided work and education for young people, like a work study=work for a college
-CCC=unmarried men 18-25 who had troubles finding jobs and they took care of them and employed them=30 dollars a month
-teens were riding on the rails and stole, kids died from this
factory workers/labor unions- weren't getting paid much they weren't organized in labor unions
wagner act- gauranteed basic rights of private sector employees to be in labor unions, bargaining,
-labor unions-more people the more power they will have, shows that the majority
-allowed employees to strike (wagner act did)
-fair labor standards act- introduced the maximum 44hour seven day workweek and established the minimum wage and did time and a half overtime for a certain jobs, made it illegal for children to work
-roosevelt called the FLSA the most important new deal legislation
-children under 18 weren't able to do dangerous jobs and 16 year olds couldn't work during school hours
-NIRA act=authorized the president to regulate industry in attempt to raise prices and established the public works administration =public works construction agency=to build employment and revive the economy
-Labor unions= helped people get better wages and hours and further their rights,
-1933 there was 3 million labor unions
-their was a decrease in labor unions which was a problem because then you dont have the support and power
-wagner act=more rights to form labor unions
-NIRA=right to exsist (labor unions)
farmers- AAA=PAID FARMERS TO PRODUCE LESS CROPS
FSA= took pictures of the depression/farmers, gave money out to farmers to buy things that were expensive/ stuff they needed to farm with.
FFB=TRIED TO STABILIZED CROPS, buy storing crops in a bin and selling them when the prices went up
SCADAA= PAID FARMERS TO PLANT ALFALFA TO HELP NUTRIENTS GET BACK INTO THE GROUND
if you had main crops then the AAA would pay you to produce less. priced had doubled in 3 years, the crops were ploughed back
-farmers weere paid to kill livestock and just kill the food they were raising so the price would go up
-people lost farms
-incomes doubled for farmers
-Dorothea Lange was a photographer, took pictures of people who were unemployed she worked for the FSA b/c people didn't believe farmers were struggling
elderly- social security act= Gave monthly checks to the elderly
fiscal year=is the tax year
old age assisstance=payments to aged individuals
they were hard to support/ they were no longer working so they couldnt bring in money.
if you made 1/2 to 3,000 dollars is how much you made whould go in your social securty account
>65=3 per centum to total wages
Old age reserve account was set up by the social security act
retired= your savings were gone b/c of depression
elderly=went to poor houses or charities when there families couldn't support them any more.
elderly expected gov to assist them before the act but they didn't so thats why the act of passed.
poor- breadlines, soup kitchens= were for people who couldn't afford to eat=operated by churches, chairities, gov
-people were put into the hoovervilles
-hoover blanket=poor guy covering up with a blanket
-HOLC=started up mortage so you could pay for a house little by little and it started the Homeowners refiancing act= helped people keep their homes by giving out loans
-FCA= helped farmers keep their farms and livestock
homeowners- rates fell sharply and housing prices plummented
-interest rates fall as the federal reserve quickly trims the discount rate in hope of cushioning the business cycle.
-national housing act= it stopped the bank foreclosures on houses, created federal housing administration and loan insurance corporation
-federal housing administration= made housing and home mortgages more affordable
-more homes were being built puts more money into the economay
-federal savings and loan insurance corporation= insured deposits in savings and loans
-united states housing authority=designed to lend money to states or communities for low cost construction
-homeowners loan corporation=refinance home mortgages currently in default to prevent foreclosure.
artists/musicians- artist= time of exploration and they wanted to get out there
-people from the gov hired artist and art was worthy
-hired by gov under new deal to create jobs
-form of entertainment
-came from federal one=The visual aarts arm= to get artist and musicans to have money and get them back on their feet, hired to paint.
-Musicans
-federal music project=employed conductors and composers, offered music lessons and had symphonies
-made music a profession
-FMP=get peopel interested in music, equality, distraction from the depression, children, music education
women- boys got educated and girls stayed home and helped their mothers
-women took care of kids and the house
-men went out and worked
-FERA= eleanor roosevelt supported it = support group, brought familes together and it provided work and loans for the women
-WPA= ellen woodward one of the members of the board, tried to apply as many as possible because some were still not working
-women worked with gardening and house keepers and they canned and they worked in lunchrooms for 31 cents an hour
-WPA= sponsors to provide money for the women and black people had less than the whites and they worked in cotton fields
-working conditions were life threatening and they were forced to find jobs
- 5 dollars per week and they were the supporters of the family
African American
Native Americans-John Collier created the Indian Reorganization Act to help native indians to preserve their culture, and secured certain rights to them
-he worked on indian issues for years
-indians who sold their land didnt get much value for it but it was they could live like their culture, help them go back to theri old ways
-dawes act=
banks- withdrawal restrictions so the banks wouldn't close down and closings/failure and three day periods(bank holiday)= banks closed for 3 days to cool off and to see what would happen.
-FDIC=get insurance on your buildings through them and they had limits and people lost funds and federal deposit insurance corporation=insures peoples money in the bank
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stock market- problems= people were buying on margin, not enough money to buy stocks, use some of own money borrow rest from broker=lead to overpriced stocks
-after the crash it had a 90% decrease since 1929 and it took 22 years for stock to be above levels in 1929
-securities act=a certificate saying that you bought that stock or bonds
-the act wanted to stop the bad things in the market and make sure its safe and secure and investors recieve financial and other info concerning securities being offered for public sale
-wanted to make sure that people who were buyingthe stocks they were making their own judment and not other people and wanted companies to be truthful
-us securities and exchange commission= little support for federal regulation of securities market before the crash of 1929 and it created from the securities exchange act, it wanted to interpret and enforce laws and wanted to get new rules and fix the old ones and oversee inspections of securities firms,brokers, investment advisors and rating agencies and make sure organizations were doing everything right and coordinate securities.
-SEC(securities and exchange commission)=made the stock market safe and secure.
energy- farmers= tried to move into cities to find jobs
-rea=give power to all farmers who were out in country so they could stay connected, and farmers more in the tennessee valley
-TVA=built many dams, developed fertilizers
-EHFA= gave loans to farmers for appliances
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4. What long lasting impact did the Great Depression have on:
Shelby County-kids helped parents out, banks closed, food stamps, IOU's started in Earling and shelby county's average farm value $149 , prices skyrocketed 1934
Iowa-WW1 farmers worked to produce record setting crops because prices of crops were going up and they burned corn instead of coal
-dirty 30's=crops were destryoed from heat and dryness and grass hoppers ate everything
-hard for small farms to make money
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US- many youngsters moved to new york and new egland
-depression led to a change in crime rate like suicide and alcoholism and health care
-education was hard to keep up
-marriages were delayed b/c the guys didnt want to be married and not being able to support the marriages
-then couples ran away from eachother, didnt want to have to support eachother
-social security
world
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