Great Depression Flashcards
1929
stock market crash
stock market crash
not a cause, a symptom
causes of great depression
lack of diversification in economy (only auto and construction)
high american tariffs (euro has trouble selling goods in US, $ for loans)
maldistribution of purchasing power (weakness in consumer demand)
crisis in farm sector (low crop prices)
monetary problems (federal reserve tightened money supply causing deflation)
bank failures (small banks in trouble b/c of defaulted loans, big banks b/c of investments)
stock market crash of 1929 (speculation and buying on margin)
black tuesday
october 29th, 1929
actual problems start that thursday
speculative bubble
speculation that the market would continue to grow or at least plateau where it was, and the price of he stock has no real value b/c there were no corrolations btwn the stock price and the actual company’s profit
buying on margin
buying a stock on credit
the stock pays for itself
by 1933
6000 banks closed, if you didnt pull $ it was gone 9 mil ppl lost their savings account GNP fell from $104 bio to $59 bio 85000 business had gone bankrupt unemployment had risen to 25%
hoovervilles
shacks built in parks by ppl kicked out of apartments
attack on hoover
divorce and marriage
both decline
womens work
increased, taking AA jobs
male breadwinner role
chalenged
birth control
legalized
school attendance
increased because kids cant get jobs
suicide rate
climbed 30%
AAs
nothings changed lots of segregation already were in a depression not equal dist. of reliefs anonymous letters to FDR
Mex Am.s
farmers lands were taken
work to work
labor strikes
discrimination when applying for jobs
Music and Art
spoke of intense conflict and discrimination
inequality
all men in breadlines
no help from gov.t
farmers
pushed off their land farmers union moved out west revolting grapes of wrath DUST BOWL
arts
reflected gritty realities and provided escape
people triumphing over entrenches interests
color movies
Cesar Chaves
migrant farmer union
influenced 1968 elections
scottsboro case
9 black men convicted of rape
not at all involved
rampant racism
hoovers response
american individualism
govt should encourage and faciliate cooperation btwn competing groups and interests in society
against federal welfare
1930
democrats gain seats in midterm elections
hoover loses support
reconstruction finance corporation
1932 hoover $2 bil for large businesses trickle down economics criticized bc not direct relief
hoover dam
public work project
revenue act
hoover
raised taxes
really unpopular
veterans
fight for a bonus
bonus epeditionary force
1932 largest march on washington at 1st no action then congress doesnt pass the bonus demands they leave orders troops against them
election of 1932
FDR vs Hoover
FDR
democrat
promises new deal (relief recovery reform)
Hoover
republican
