HIST 1002 1st Edition Lecture 6Outline of Last LectureI. DevastationII. Empires DestroyedIII. Meeting in ParisOutline of Current Lecture: The Great Depression (1929)I. Peoples experienceII. Early government responseCurrent Lecture: The Great Depression (1929) I. Peoples experience- Wealth disparity- Top 2% of wealthy Americans, held 2/3 of wealth in America- 80% of American public held 0 savings - Poverty- ½ of families were at or below poverty line- 20-25% was the unemployment rate- 1/3 of people working were under employed- Black Americans unemployment rate was 50%- Homelessness- Many roaming around to try and find work- Hoovervilles createdThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Most people were under neutralizedII. Early government response- Women (After men were fired, women filled their replacements at work)- (White women worked for 61% of what the men did)- (Black women worked for 23% of what the men did)- President Herbert Hoover was elected President- Hoover believed the people should rely on volunteers and not government assistance- Hoover became very unpopular after everyone viewed him as a hero- 20,000 Veterans marched to Washington, DC to peacefully petition to Congress to receive their bonus they were promised early during these hard times- Became known as the Bonus Army - The senate denied