TAMU HIST 106 - History Exam 2 (44 pages)

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History Exam 2



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History Exam 2

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Pages:
44
School:
Texas A&M University
Course:
Hist 106 - History Of The U S

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History Exam 2 11 06 2014 The Great Depression October 1929 stock market crash o Continued for the next 4 years o Stock market stopped growing in summer 1929 Many great political debates are traced back to the 1930 s Worst depression in American history Dust Bowl o Most of the central US all the farmland o Sparked by a drought o Houses and farmland would be buried in dust o Ships in atlantic as far as 300 miles off shore would report having mud showers Causes o Overproduction too much food in production and the prices of crops were plummeting Buying on credit selling people goods before they could afford them o Mal distribution of wealth tariffs income in the US was good but wasn t very evenly distributed Money was in the hands of very few 1 of population was in stock market the top 1 of that had 43 of it Short sided tariff policies massive tariffs o Low Regulation 30 of market was bought on margin As soon as stock market started falling it bankrupt individuals and companies o Banking practices not protecting it s customers Could not cope with masses of people that were scared and came and pulled all of their money out What makes the great depression worst than any other stock market crash o Economic indicators Stock market lost 40 of it s value Stock prices unemployment 25 in 1920 s compared to 10 in the 2008 crash Production was cut in half banks closing by the thousands o Social indicators Marriage rates dropped by 30 couldn t afford to get married and support a family and birth rates dropped US population stagnated Crime rates in the US National murder rate tripled Bank robberies Responses to the Great Depression Herbert Hoover Hoover took the blame for the depression o won the election in 1928 o Stanford University o Successful series of jobs as mechanical engineer o Was in Europe when WWI broke out helped organize the removal of American citizens Bonus Marchers o Group of WWI veterans o Handling of bonus marchers was one of the worst moves by Hoover o Law was



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