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the stock market crash effected a lot of people because of the banks closing and they lost their life savings
democrats swept into congress during the 1930s
bonus army:
was named after the american expedition force in world war 1
the veterans wanted to get their bonus money early because they were in hard times
millions of veterans walked in dc to support this bill
but the bill didn't pass
some left and some got more agressive with their protest
hoover eventually brought in the military to push them out of dc
at first hoover helped them by setting up tents and giving them water and stuff
many people then thought that hoover didn't care; one of hoover's low points
causes of the stock market crash:
stocks were over valued- companies lost money bc people weren't buying things but stock kept going up
people borrowed money and bought stocks on margine- people bought stocks with borrowed money; buying on margine added to the overvalue of stock
raised intrest rates- federal reserve system: bankers bank; they can raise and lower interest rate
they bumped up intrest rates which lead ppl to not buy big things and ppl paniced
massive fraud and illegal activity- gov't had no rules in regulating the stock market (pooling- rich ppl bought stock up and then they sold it) drove the stock prices up
causes of the great depression:
stock market crash- banks failed people lost their money
the smoot-hawley tariff- high tariffs- stopped our trade with foreign countries
reduction of purchases- people weren't buying goods
bank failures- made the great depression a lot worse
overproduction of goods for farming and for businesses
then we got assigned our project:
mine is:
agricultural adjustment act (1st and 2nd)(AAA)
and
deficit spending
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