1. Causes of the Stock Market Crash
- stock prices overpriced
- stocks dropped
- buy now; pay later - spend so much & build debt couldn't pay off
- buying stock on credit
- overspeculation during 1920's
- overproduction of goods
- uneven distribution of wealth
- too much borrowing from banks
- stock prcies were grossly inflated, didn't have a real value
- federal reserve increased increase rates
- lack of government regulation
-effects
- investors and businesses lose millions
- thousands of banks fail; savings wiped otu
- businsses cut production, lay off workers
- unemployment rises, people quit spending money
- great depression sets in
- depression spreads to europe and other parts of the world
2. Causes of the Great Depression
- Overproduction of goods
- Underconsumption of goods by consumers
- Agriculture slump due to overproduction
- High protective tariff policies of the 1920's
- Taxes benefiting the rich- rich get richer, poor get poorer
- Stock market crash
- New Deal programs start-makes the US gov't much larger
- Deficit spending starts
- The New Deal creates many organizations that are still around today - social security
- Fascist, military and communist dictators come to power throughout the world
1. 1928 Election
- Herbert Hoover vs Al Smith (said better speaker)
- Prohibition (big topic)
- Herbert Hoover won by a landslide!
- Al Smith was catholic; wanted to get rid of prohibition
2. Stock Market in the 1920's(466-468)
3. Story of the stock market crash-not the causes(467-469)
4. Banks and business' collapse(469)
5. Effect stock market crash had on other countries(469-471)
-US loaned money to Great Britain and it all circled around; stopped after Crash and led Germany to a depression
6. Depression in the cities(472-473)
-Hit manufacturing hard
-Main businesses hit hardest
-Had to layoff people
-Suicide rates rapidly increased; never thought it would get better
-Started working with mafias (organized crime)
-City officials couldn't do anything about it or were getting paid off
7. Depression in the rural areas(473)
-Led to a lot of starvation; farmers couldn't afford equiptment
-A lot of unfaithfulness in the government
-Helped build character in people because people were forced to appreciate what they had
-Farmers did have cows, chickens, etc and could plant things
8. Dust Bowl(474)
-Also known as dirty 30's
-Farmers didn't do crop rotation
-Severe drought
-Black blizzards
-Huge impact on the land
-Destroyed 100 million acres; people would have to leave their homes
-Would move to outer states like Cali
9. Men in the Streets(475)
-Became migrant workers; travel by trains to other towns to try to find work
-Hobos; very dangerous & made a symbol system
-Hoovervilles; small town or villages (houses made out of cardboard or anything they could find
-World War 2 is when things finally got better for these people
10. Women struggle to survive(475-476)
-Men were upset their jobs were being taken away by women
-Men needed jobs too so were mad
-Many areas refused to hire woman
-Believed women had it easier because they didnt have to be seen in bread lines to get food
11. Children suffer hardships(476)
-women would abandon husband and kids
-kids were eating properly
-would get rickets because weren't getting enough nuricentment
-would take it upon themselves to leave because felt their parents couldnt feed them (one less mouth to feed!)
12. Social and psychological effects(477)
13. Hoover's background
14. Hoover's philosophy/Cautious steps(479)
15. Boulder Dam(480)
16. Democrats win 1930 Congressional elections(480)
17. Hoover takes action(481)
18. Bonus Army(482-483)
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