finishing up blog disscussions
also assigning the project today.
Banking Act of 1935 and Fireside chats are my topics for the project.
Chapter 14!
Tanner & Alex-stocks are money that you buy to have a share in a company.
-stock market in the 1920s was very prosperious becuase ppl were buying things that were expensive. investers said that that it would eventually go down and it would be bad but people wouldnt listen. They thought we would be in perment prosperity.
-buying on margin which ment that they only had to put some of there own money down on the stock and a broker would put the rest in for you. (what goes up must come down). Banks started investing money in the stock market with peoples money with out telling them.
-stock speculators would buy stocks and then they would sell them quickly to make money. buy the late 1920's people werent making money because they were in massive debt.
-Great Depression cycle
People dont buy goods----->Companies dont make money---->People lose jobs---->so on and so forth.
-eventually on black tuesday stock brokers would call the people who bought the stocks from them and they would say we dont have the money, and the banks would call and say we need our money and then the brokers would say we dont have money.
Cole
Election of 1928
was between Herbert Hoover (R) and Al Smith (D)
-there has only been on cathlic pres. which is John Kennedy
-Al was a catholic so many people didnt want him to be pres. becuase they thought that the pope would become in charge of our country.
-Hoover wasnt a great speaker or very engetic.
John Pierpont Morgan owner of chase morgan bank. was one of the bankers that helped save the stock market numerous times.
Dustin
banks and business close down.
- over 600 banks closed during this time.
-now we have FDIC so this wont happen again.
-90,000 business went bankrupt
me
effects of the stock market
-the great depression helped adolph hitler come to power.
-Howly Smout terrif this raised the terrif to the highest it has been.
-people dont buy our goods becuase of price. and we didnt buy their goods becuase of price.
Isaac
effects in the cities
- country depended on steel and vehicle productions
-movie industry bombed.
-farmers that had to move to the cities to try to get money.
-if companies ran out of money they would pay them in skip so the could pay for food. and things
-wen ppl had to move out of there homes that would take wood so they could build shacks. and the name of the towns were Hoovervilles.
-Hoover blankets were newspapers. Hoover flags were ppl with there pockets out saying they didnt have money.
-hoover accually did alot for them they just didnt really know it.
-they used to have bread lines for people going to get food.
Kelsey
effects on the rural area
-crop price was down becuase during WWI the government wanted farmers to plant more crops so they could send them over seas but after the war the farmers didnt stop planting all the extra so the prices started going down
-the government paied farmers to spill milk, burn crops.
-women changed how they helped the men
Emily
dustbowl
-these storms would happen in the "great american desert"
-wen the government said that they needed more crops they started plowing more land.
-the ground is very hard and if it doesnt get water in some from the crops will dry up and it will ruin the crops.
-if the dust storm was going on you couldnt breathe.
-it would effect all the way out into the alantic ocean.
-they also started routating crops.
-the government started class for the farmers to learn how to help there crops.
Cheryl
men suffer
-the men would have to go and look for food so they could feed their families
-they would do anything they could do to put food on the table that night
-even though everybody thought prices were hight but really they were down because no body could buy
-they had shared time so they wouldnt work the normal 8 hours
-they had soup kitchens and bread lines for people to go get food.
Courtney L.
women suffer
-women had to learn how to cook differently. like making bread, canning.
-lots of people (men and women) thought that women shouldnt be working and that women should not be in the work place.
-women are paid less than men...still happens today
Cameo
children suffer hardship
- the teachers didnt teach what they were suppose to. or they would rush through things
-2600 schools closed
-the babies would die during the dust bowl becuase of all the dust
-there were kids who would run away from there families because they thought they were burdens to there families.
-the kids would be like younger versions of hobos
-alot of the kids would die on the trip.
-some of them were either killed or injured
-hospitals would only treat them if they were badly hurt.
Austin
Scological effects
-it was the problems they went through metally
-suiced rate wen up to 30% and many people went to insane hospitals
-it really brought people together.
-older generation is tighter with there money now adays
Courtney
hoovers backround
-born in westbranch iowa
-parents died wen he was 9 so he went to go live with uncles
-didnt stay with any of them too long
-31st pres
-minning engineer and author
-was secretary of comers before pres
-he was easlie elected pres
-even though he did everything he could for the country.
-he was a huminatarian
-only elected once
Brandon
Hoover's philosophy/Cautious steps
-didnt believe that it was the governments roll to set up food kitchens but it was there job to help groups help the poor
-these 3 things made it seem like he really didnt care even though he did
1)rugged individualism-every man for himself;fend for yourself
2)laissez-fairre-goverment should stay out of business and the government should stay out of it.
3)Trickle -Down Theory-the rich give to the poor and so on and so forth
Scott
Bolder (Hoover) Dam Project
-there were alot of dam projects
-also known as the Hoover Dam
-its really close to Las Vegas
-purpose was to help irrigation, help prevent flooding, and produce hydro electic power
-it created alot of jobs
-112 ppl died working on it.
Ana
Democrates win congressionsal election
-democrates took advatage of the senate
-republians only had one vote in the senate.
-peole wanted a change in the government
Morganne
Hoover takes Action
-he tried to help banks in some degree
-in 1931 people started reliazing that what he was doing wasnt helping any
-passed a bill to lower morges on homes so people could keep there homes
-RFC- gave billions of dollars to states local and business so they could try to creat jobs for people this was utlimatly Trickle Down Theory
-it was too late for it to change things
Bruns
Bonus Army
-Bonus Expedition Force- in the 1940's they would give them there money sooner than later
-the American Expedion Force was what they were called the troops back when they were in the war
-they wanted there pention early along with there life insurance.
-thousands and thousands of veterans were in dc for this protest. for the bill to pass but it didnt
-things went bad after the bill didnt pass
-hoover brought in military in to get rid of them using tear gas.
-many people didnt like this at all.
List of reasons for stock market crash
1) stocks over vauled- people stoped buying american products
2) buying stocks on credit
3)raised intrest rates- federal reserve system rasied interst rates which was bad becuase eople stoped buying things, which made things even worse.
4) massive frade and illeality- no body regulated the stock market so prices went up and so they werent the real price of it.
Causes of the Great Depression
1) stock market crash- kind of the mother load of it
2) high tarriffs- it was suppose to help us but in the end it ended up stopping trade
3) people stoped buying things-
4) bank failures- banks closed and people lost money that they had in savings.
5) world war one debt- countries didnt completely pay us back and eventually we assumed their debt
6) over production of goods- farming and manufatured goods
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