causes of the great depression
main cause stock market crash bank failures Reduction is purchasing across the board American economic policy with Europe and drought conditions
Stock market crash
it was one of the major causes that led to the great depression.
A couple of months after the crash in October Stockholders had lost more than 40 billion.
Thought the stock market regained some of its loses it was not enough by the end of 1930.
Second cause Bank failures
Another reason was bank failures During the 1930 over 9,00 banks failed
Deposits were uninsured and as banks failed people lost their savings
The banks that survived were unsure of economic situation concerned for their surgical stopped being as willing to create new loans
Third cause purchasing across the board
Everyone stopped buying items because they feared that more economical problems would occur
this led to a reduction in number of items made reduced he workforce
people started losing their jobs and were unable to pat for items that had bought
they bought through installment plans
Fourth Cause Economic Policy with europe
business began falling
government created smoot hawley tariff
Smoot Hawley Tariff= to protect American companies in 1930
it charged a high tax for import
led to less trade between America and other countries
fifth cause Drought caused people not to pay their taxes and debts
People had to sell their farms for no profit Era names the dust bowl Dust Bowl= Destroyed ag parts
Children would write to president for help like shoes clothing money
boxcar kids- children that ran from home and lived on railroads
child labor laws formed ran from home Girls dressed like boys
Women
Men and women were affected different men felt like failures Women felt as if their household jobs were enhanced not a lot of money to live off of
Men
Jobs Looking for jobs self esteem leaving their families 1940 survey 1.5 billion women were left by there husband
families
Marriage Divorce children Family income stress How families respond
Farmers Corn prices dropped big time by 10 % a bushel Burning corn to stay warm living off the land Bartering Flour sack clothes
Wealthy people
Not affected So 40% of people were not affected didn't notice others suffering some lost a lot of money flaunted wealth more.
Living conditions Hoovervilles- a town made from any kind of material found
Homeless- the homeless were living anywhere they could including park benches and under news papers
Jobs More and more people were looking for jobs and because of that most of the jobs were given ot to the whites
Women were usually fired due to the fact that it was thought that they were taking jobs from men Getting a jobs was essential to living at the time.
Dust bowl
Drought and over plowing
8 years
Worst drought in US history
Facts About Herbert Hoover
West branch Iowa August 10 1874 was an orphan Lived with his uncle in Oregon Attended Standford university Married to Lou Henry hoover 2 children; Herbert Hoover Jr and Allan Hoover
Jobs before president
Mining engineer, Civil Engineer, Businessman, Humanitarian
Inaugural Address Oath of Office The speech was made on the 4th of March in 1929
Accomplishments
When the stock market crashed it sent America into the great depression President Herbert C Hoover initiated the construction of the hoover Dam, HE also made many attempts to end the great depression and each attempt failed.
Throughout his term in office all of great things Herbert Hoover did was looked past because of the great depression
He ran for re-election in 1932 but the Americans wanted a change of direction
in 1932 Franklin Delano Roosevelt was elected president.
made the star spangled banner went after mobsters added more land the the nationals parks system
prison reform treaty of ancons peace treaty between chile and puru about Antarctica
canceled private oil leases on govt lands Wrote children's charter advocating protection to every child regardless of race or gender Doubled veterans hospital facilities
withdrew troops from Haiti re ducts 1/3 of worlds naval power
Reconstruction finance corporation
Created in 1932 by herebert
its purpose was to help economic activity by lending money in depression at first in lent money only to financial industrial and agricultural institutions but then its operation was greatly widened by the new deal administration of Franklin Roosevelt
it financed the construction and operation of war plants made loans to foreign governments provided protection against war and disaster damages and engages in numerous other activities
in 1939 the RFC merged with other agencies to form the federal loan agency and Jesse Jones was pointed federal loan administration
Large destruction finance corporation
Hoover during the depression
How hoover has gone down in history uncaring chief executive
How hoover actually was- strong believer in laissez faire to much government intervention.
Hoovers policies- Reconstruction finance corporation RFC Loans to banks
Franklins backround
Born in New york old dutch families which settled in the America seventeen century
died in office in April 1945
New deals
First 100 days Economic programs 3 R's
Relief recovery Reform
New deal #1 New Deal #2
AAA
Enacted in 1933 this act protected farmers from price drops by providing crop subsides to reduce production educational programs to teach methods of preventing soil erosion payed them no to plant par
CWA
provided public works jobs at 15 week to four million workers in 1934 the jobs were merely temporary for the duration of the hard winter
FERA
enacted in may 1933 and headed by harry Hopkins provides work for over 20 million people gave grants and loans to states to operate relief programs
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