Effects of the stock market crash
investors and businesses lose millions
thousands of banks fail-saving are wiped out
businesses cut production-lay off workers
efffects of the great deppersion
new deal prgrams start makes the us govt much larger
defict spendin programs
the vicious cycle of the great depression
companies lose money so they lay people off
unemplyment rate goes up less people buy goods as income has dropped
companies profits fall so they have to lay more people off or close
cycle repeats itself
in early 1924, senator charles L. McNary of oregon and representative Gilber N. Haugen of Iowa introduced a bill calling for the following
A federal farm board was to be created to purchase surplus farm production at pre-world war 1 prices
harry hopkins henry morgenthau
Hoover’s ironic Speech
We in America today are nearer to the final triumph over poverty than ever before in the history of this land... We shall soon with the help of god be in sight of the day when poverty will be banished from this land
FDR’s brain trust
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