Great Depression

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Great Depression

Hooverviles were created to give the poor people a place to live

African Americans moved to the north in search for new jobs and equality

Unemployment reduces the spending in america grealy

Overproduction led to having to lower prices

Overexetensions allowed people to buy on margin

The laizze Faire allowed speculation and manipulation

High tariffs created a higher uncertainty

People buying too many things created a high demand and production

Stock market crashing created a loss of money for everyone

Buying on margin created a lapse of money

Banks did not have enough money to pay back after crash

Herbert Hoover

"Bonus army" - 1700 WW1 vets and their families demanding bonus pay for serving

Reconstruction finance corporation - lent money to banks and other corporations to restore the economy in the great depression

Public works project - to help the US recover after the stock market crash and great depression

Rugged individulism - the belief that individuals can succeed on their own

Dust Bowl

Impacts

Economic - Diminished incomes, business losses, bank closures, and increased unemployment

Social - Mass migration to the north, sickness from dust, and mental stress.

Causes

As a result of these two there was wind erosion

Poor agriculture practices - with no money people wouldn't farm leaving dry grounds

Severe drought - dust in the area

New Deal

Franklin D. Roosevelt

Accused of socialism - The new Deal was something heavily considered socialist

Created the New Deal - for the great depression to combat it

Attempted Court packing - tried to add more justices to the supreme court initially

Controversy

Socialism - the new Deal was considered possibly socialist along with Franklin D. Roosevelt

Court packing - adding in more justices to the supreme court that are on your side

Programs

Works progress administration - created jobs and improved infrastructure during the great depression

Tennessee Valley Authority - gives electricity and prevents flooding

Social Security - ensure elderly people have money after retirement

Securities and exchange commision - enforce laws against manipulation of the market

National recovery administration - to simulate the economy in the great depression

Federal deposit insurance - insures deposits are safe and regulates banks

Fair labor standards - establishes minimum wage, overtime pay, youth work, and record keeping

Civilian conservation corps - volunteer program for young men to help improve america

agricultural adjustment app - increase agricultural prices by refusing surplus