- many people had to cancel
- birth rates increases
- less marriages
- suicide rates when up
- help the unemployed find jobs during the great depression WPA (works progress association)
- bank failures:
- many banks failed because people began to lose their savings due to the deposits in the bank. they became more cautious on who they gave loans out to.
- food stamps:
- Roosevelt started the program. introduced in 1939. help those who were needy get food for their family.
- people couldn't transfer goods and tariffs increased rapidly that had a long lasting impact on the depression
- the crash was over a 5 day period
- causes:
- stock market crash
- bank failures
- reduction in purchasing across the board
- american economic policy with europe
- drought conditions
- 1/3 of the no farmer workforce lost jobs
- Thursday october 24th, 1929
- many people wer investing in stocks, 2 months after that thursday inverstors had lost more than 40 billion
- people lost there savings form the banks
- only 5 % of the popluation was affected but thats still alot
- banks were unable to create as many loans
- when you buy on credit and they would spend money freely.. alot of people who owed the money to the business losts alot of money and the people who had to pay lost alot of money.
- buying on margin-same as buying on credit but it made is able to buy shares for 10% of their actual value.
- impact:
- homeless
- uneployment
- hoovervilles
- starvation and illness
- alot of the corporate business was loosing affect of the triple down theory
- what the gov did:
tried to create jobs where they paid men to build roads and schools - Roosevelt created the ag adjustment act which paid farmers not to sell products
- a typical ration from the government includes flour pork split peas corn meal. it only provided for half of a persons nutritional needs.
- long lasting impact:
- financial world went to crap. people weren't buying as much stuff people weren't taking out loans and a lot of people didn't have jobs.
- started social security system
- government set up a system that drained on taxpayer money
- families were separated
- The first new deal was intended to fix the economy from the top down
- NLRA nation labor relations act
- world war 2
- as soon as war began the new deal ended and so did the great depression
- it eneded because rooselvt won the war because they spent all the money possible
- The smoot-haweley tarriff helped protect american companies
- Civilan Conservaion
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