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Great Depression Overview and Impact

The Great Depression Notes document summarizes key events and impacts of the Great Depression in the United States. It discusses (I) how stock market speculation in the 1920s led to the 1929 crash, triggering widespread bank failures and dust bowl conditions that devastated farmers. (II) Unemployment rose to 25% in 1932 as thousands of businesses failed, leaving many without work or income. (III) The human impacts included families struggling with poverty, discrimination against women and minorities, and some Mexican Americans being forced to leave the country.

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3K views2 pages

Great Depression Overview and Impact

The Great Depression Notes document summarizes key events and impacts of the Great Depression in the United States. It discusses (I) how stock market speculation in the 1920s led to the 1929 crash, triggering widespread bank failures and dust bowl conditions that devastated farmers. (II) Unemployment rose to 25% in 1932 as thousands of businesses failed, leaving many without work or income. (III) The human impacts included families struggling with poverty, discrimination against women and minorities, and some Mexican Americans being forced to leave the country.

Uploaded by

cassidylasalle
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

The Great Depression Notes

I. Wall Street Mania in the 1920s A. Stock market prices increased during the 20s 1. speculation a) risky investment in hopes of prot 2. buying on margin a) investors pay part of selling price b) borrow the rest B. Stock Market crash signaled end of prosperity 1. Sept. 29 stock prices rise 400% higher than in 1924 2. Oct. 29 panic as stocks drop II. Bank Failures A. Banks loaned money to speculators (stocks and land) B. 5000 banks fail from 1929 to 1932 III. Dust Bowl A. 1920s farmers bought expensive machinery 1. heavily in debt 2. 1/3 of American farmers B. Severe dust storms ruin many crops in early 1930s 1. 1930 to 1934 one million farms lost in midwest region 2. families forced to leave in search of jobs - Okies IV. Unemployment High - work ethic challenged A. 1932 unemployment 25% B. Thousands of businesses fail - no jobs C. emotionally devastating to jobless 1. bread lines 2. handouts made people feel humiliated V. Human Impact A. Families made do with less 1. economic hardship forced many to give up comforts 2. families grew vegetables, rented rooms 3. movies/radio form of escape B. Women faced job discrimination 1. women laid off or red to make way for men C. African Americans experienced deep poverty & racism D. Many Mexican-Americans forced to leave country VI. Many Americans feel Hoover to blame A. Hoover - felt depression just part of economic cycle

1. Hoover opposed direct relief 2. wanted private charities to provide help 3. Early 30s Hoovervilles in most major cities B. Reconstruction Finance Corporation - 1932 1. designed to make loans to banks 2. not effective - too little too late C. Veterans protested by marching Bonus Army 1. 1932 - demanded early payment of veterans bonus 2. clash between police - 2 deaths VII.Franklin Delano Roosevelt (FDR) - Democrat A. Wins 1932 presidential election 1. Former governor of New York a) had successful relief plan 2. Name recognition helps him to win a) cousin Teddy Roosevelt B. Style and Policy 1. bold and optimistic - gave Americans hope 2. FDR addressed the concerns of the Forgotten Man and promised a New Deal

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