TAMU HIST 106 - History Exam 2 notes (54 pages)

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History Exam 2 notes



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History Exam 2 notes

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Pages:
54
School:
Texas A&M University
Course:
Hist 106 - History Of The U S

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The Great Depression 10 07 2014 October 1929 o Stock Market Crash of October 1929 o Everyone touched by the Great Depression o Greatest debates o Regulation of the stock market o Welfare programs government as an employer Or just for a private sector o No explanation why the Great Depression followed this stock market crash Impact of the policies o Stock prices soared people thought it was better for them to put it in the stock market than put it in the bank o Summer 1929 US Stock Market stopped growing stagnate o 11 prominent people committed suicide because they thought they had been ruined o Wealth disappeared o Stock prices had become so high that the crash was more severe o Manufacturers closed factories and laid off workers Dust Bowl o 1930s drought and wind storms on highly tilled and dry land throughout the middle and mid west o Ships in the Atlantic reported having mud showers at sea mud storms in the east o Massive amount of soil erosion Causes o Over production Too much food in the US prices of crops were plummeting due to inflation In the 1920s better farmer techniques produced at a cheaper price so more farmers could afford them More and more people are buying products that they cannot afford Buying on credit selling people goods they can t afford o Mal distribution of wealth Tariffs Income in the US not evenly distributed A lot of wealth in the hands of very few Only the wealthiest 1 of people were in the stock market Bankers businessmen create jobs and loan that money out to other people are the most influential in the stock market Ford did not continue to give his workers higher wages Income was not high enough to maintain the purchases and production the US was capable in the 1920s SO MUCH WEALTH CONCENTRATED IN THE HANDS OF A FEW Denied the US of spending power Coolidge Harding instituted massive tariffs 1 American businessmen supported these tariffs highly farmers did not like the tariffs because it was harder for them to export food to European



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