The Great Depression had a big impact in United States of America. It occurred after the stock market crashed, and was long. It also took the jobs of many workers and got promised that they eventually get there work, but instead they got laid off.
II Causes (The causes of the great depression were ________, _______, ________)
(Define, how important)
A overspeculation
People bet that the market would continue to rise and bought stock on credo to get rich quick
B Govt Policy
The Hawley-Smoot tariff made it more expensive to buy foreign goods. Foreign companies raised their tarrifis as well and there was a surplus of food which drove down the price. This put farmers deeper into the depression.
The Hawley-Smoot tariff made it more expensive to buy foreign goods. Foreign companies raised their tarrifis as well and there was a surplus of food which drove down the price. This put farmers deeper into the depression.
C Unstable Econ
There was an uneven distribution of wealth in America. Some people were really rich but most people were really poor.
There was an uneven distribution of wealth in America. Some people were really rich but most people were really poor.
1 uneven prosperity
Top 5% of all American households earned 30% of nations income
2 overproduction
Farmers had a surpless of foods after ww1 ended. This drove the price of food down
3 worker issues / farm issues
More and more wooers were being laid off from their jobs and farmers were losing their houses to banks and struggling through the dust bowl storms.
III Effects
A Poverty
Soup kitchens fed hungry, people lived in shantytowns and Hoovervilles. Hobos lived on trains.
B Society
Artists of the time began to document the true horrors of the great depression instead of writing fiction or painting abstract art.
C World
Japan leaves the league of nations, Hitler rises to power in Germany.
IV Solutions
A Hoover
Creates the public works and they began to build the Hoover dam. Hoover implemented limited relief programs that gave money directly to those in need but he didn't believe in that as a solution. He also bailed out some banks.
1 Volunteerism
The public works was a form of volunteerism. Hoover refused to give money dirtily to the people but they worked for the government to get it.
2 Public Works
The Hoover dam
3 Hawley Smoot
Raised prices of foreign goods which hurt the sale of American goods in other counties. This made American business, especially farming, struggle.
4 RFC
Reconstruction Finance Corporation made loans to banks in order to help them through the depression. It spent $238 million by 1932. Created in 1932.
B Roosevelt
Democratic candidate who ran against Hoover and won. He was willing too try anything to get the government out of depression.
1 new deal
Roosevelt's program for ending the Depression
a alphabet soup
example AAA Agricultural Adjustment Administration paid farmers to stop growing certain crops to drive up food prices.
example CCC Civilian Conservation Corps helped the unemployed by having them work for the national forestry service.
example FDIC Federal Deposit Insurance Corporation provided insurance on bank deposits up to a certain amount.
example SEC Securities and Exchange Commission regulated the stock market and prevented fraud.
b Criticsim?
The "right" or conservations thought Roosevelt was spend too much money that America didn't have and thought he was abusing the governments power by becoming too involved. The "left" of liberals thought Roosevelt was not doing enough to help the economy and needed to spend more money.
2 2nd new deal
a Deficit spending- abandoning a balanced budget and borrowing money to pay for things.
b WPA Works Progress Administration gave people jobs constructing highways, buildings and parks.
c Social Security Act provided security for elderly and unemployment Americans. A lasting effect of the New Deals.
V Criticicism
B Political Criticism (ex. Came from both the left and right)
A Conservatives
American Liberty League was a conservative coup against the new deal who thought Roosevelt's plan were violating their rights of person and property.
B Liberals (ex: criticised the new deal also. They wanted more action/spending)
Ex
Huey Long democratic senator of Louisiana created "Share Our Wealth" clubs. He believed the rich should do more to help the poor.
VI Effectiveness
A Changes in US
The governments role changed. It became more involved in the lives of everyday Americans because many now worked for the government instead of private companies to build roads etc.
B Unions
C Culture
VII Conclusion
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