Jan 25- Took a quiz about political stances and voted for our candidate, then studied for test tomorrow
Jan 26- Test
Jan 27- Took notes
1.-Causes of the Great Depression
Overproduction of goods- companies were producing but no one was buying, they had to close down and people lost their jobs
Underconsumption of goods by consumers- no one had money to purchase goods
Agricultural slump in 1920’s due to overproduction- after WWI they kept producing the same amount- more than they needed
High protective tariff policies of the 1920’s- forces people to buy American products but people weren’t buying here and other countries weren’t importing our goods either
Taxes benefiting the rich- the rich got richer and the poor got poorer
Stock Market Crash- people lose money, banks lose money, businesses failed
Banks closing- People’s money was gone
Jan 28- Took notes
Vicious Cycle of the Great Depression
Co. lost money so they laid people off
Unemployment rate goes up and less people buy goods as income has dropped
Co. profits fall so they have to lay more people off or close
2.-Impact the Great Depression had on people and our country
Hoovervilles- people lost their homes so they lived in shacks
Made of plywood, tin
Max of 5 years for home loans and paid interest at the end
Added the term Hoover to things bc they blamed him
Breadline- usually just the men waited in the lines
Soup kitchens
Welfare- destroys incentive
Minorities- 50% unemployment rate
Hoboes hopping freight trains
Didn’t want to be a burden to their parents
Selling apples
Dust Bowl- during WWI plow up your grass lands, but they stayed like that so there was overproduction
Didn’t have trees or anything to hold the topsoil down
- Okies- left the dust bowl states and moved west because they lost everything
Jan 29- Took notes
3.-President Hoover’s attempt(or lack thereof) to help solve Great Depression
Government was small and didn’t get involved in things
People assumed he wasn’t doing anything to help
He helped people get food in WWI
Hoover was viewed as uncaring and as someone who did very little
Election of 1928
Al Smith v Hoover
Smith was a catholic, anti-prohibition
“A chicken in every pot and a car in every garage”
Democrats in the south were white racists
Called the States Rights Party- didn’t want to be told what to do
Encouraged people to be patient, positive, and volunteer
Federal Farm Board
Stabilize prices and to promote the sale of ag products
To get rid of surplus and help farmers- kill, burn, destroy resources
There were people starving, yet they were destroying food
Norris-La Guardia Act
Strengthened labor unions
Hoover Moratorium
1 year halt on German war payments to France
1 year halt on war payments from Great Britain and France to the US
Mexican Repatriation
Mexican immigrants were encourages/forced to go back
Revenue Act of 1932
Increased taxes so US gov’t had money
Hawley-Smoot Tariff
Raised tariffs to record levels
Reconstruction Finance Corp.
Gave loans to banks, state and local gov’t and business’ to create projects/jobs for people
Gave states loans for emergency relief needs
Not as successful as Hoover hoped
Needed welfare check but Hoover wouldn’t do that
Boulder Dam
Las Vegas
The Hoover Dam project including a dam, the All- American Canal, the town of Boulder City, highways, railroads and various other works, cost $165 million to build
- Dams created electricity that they could sell- it would pay for itself
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