THE GREAT DEPRESSION Flashcards
WHAT CAUSED THE GREAT DEPPRESSION?
STOCK MARKET CRASH - 1929
BANK FAILURES AND PANICS
WHAT WAS THE RESULT OF THE GREAT DEPRESSION?
PEOPLE LOST MONEY
HOMELESSNESS UNEMPLOYMENT
LACK OF RESOURCES
HOBOS
HOOVERVILLES
LOWER INCOME
PLACES SHUT DOWN
7000 (1/3) FAILED
13 MILLION LOST JOBS
50% WORKERS IN CLEAVELAND
WHAT DID HERBERT HOOVER BELIEVE IN ?
RUGGED INDIVIDUALISM
FIGURE IT OUT THEMSELVES
HOW DID HOOVER HELP?
1930 CUT TAXES BY $130M
MORE MONEY TO SPEND
RFC - EMERGENCY RELIEF TO LARGE BUSINESSES AND BANKS - 1932
HAWLEY SMOOT TARIFF
HIGHER TAXES ON FOREIGN GOODS
WHAT DID HOOVER ANNOUNCE IN JAN 1930?
THEY HAD PASSED THE WORST
GIVING FALSE HOPE WITHOUT TAKING ACTION
EMERGENCY BANKING RELIEF ACT
GAVE THE PRESIDENT POWER OVER THE BANKING SYSTEM
BANKS WOULD BE REORGANIZED AND REOPENED
CCC
EMPLOYMENT TO YOUNG MEN BY SENDING THEM TO NATIONAL PARKS - PLANT TREES AND BUILD RESOVOUIRS
200000 AAS
AAA
PAID FARMERS TO WASTE 1/3 OF THEIR CROPS
THE SUPREME COURT CLAIMED IT WAS ILLEGAL SO ALL SUPPORT STOPPED
HOLC
GAVE LOANS TO PEOPLE WHO WERE STRUGGLING TO PAY THEIR MORTGAGES
HELPED 300000 HOMEOWNERS IN THE FIRST YR
IN WHAT WAY WAS THE NEW DEAL INEFFECTIVE?
DIDNT HELP THE ELDERLY
