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Stocks
By 1929, four million Americans, which is 3 percant of nation's popullation owned stocks. -
The Dow
In 1929, with Black Friday, the Dow began to deflate and it hit a bottom in 1932. By that point, the Dow was down almost 75% from its peak a few years earlier. -
Failure of Banks
In 1929, 400 banks closed and by 1932 11,000-25,000 banks failed in this time the government didn't suppport banks. -
Farms
During the years 1929-1932 about 400,000 farms were lost through foreclosure. -
Herbert Hoover
Hoover was born in in West Branch, Iowa. He later moved on to go to Stanford University in 1891. At Stanford, Hoover earned a degree in engineering and in 1899 Hoover got an engineering position by the Chinese government. Then, in 1928, became the Republican Party's presidential candidate. Soon after his inauguration, the stock market crashed and an economic depression ensued. He did the best he could with what was going on as soon as he was elected president. -
Stock Market crash
The most important effect was chaos in the banking system as banks tried to collect on loans made to stockmarket investors whose holdings were now worth little or nothing at all. Many banks had themselves invested depositors money in the stockmarket. When word spread that banks were failing, depositors rushed to withdraw their savings. Also, new investment could not be financed through the sale of stock, because no one would buy the new stock. -
Margins
Many people started to buy margins beause they started to panic. They only payed a small percent of the price and borrowed the rest. SOmetimes this had a good outcome and sometimes the price lowered and you owed money. -
Unemployed
In 1931 8.02 million Americans were unemployed because money was tight ans business had to lay off and cut a lot of workers. -
Hawley-Smoot Tariff Act
During the great depression, alot of women worked really hard to help out their families. Women were stuggleing to stay alive. They also worked hard to help their families survive. Many women canned food and sewed clothes and bugeting their money. -
1930 Congressional Elections
The Democrats took advantage of anti-Hoover sentiments to win more seats in Congress. -
Women
During the great depression, alot of women worked really hard to help out their families. Women were stuggleing to stay alive. They also worked hard to help their families survive. Many women canned food and sewed clothes and bugeting their money. -
Suicide
Durinf the Great Depression teh suicide rate rose more than 30 percent. -
Hoovers Philosophy
Hoover believed that one of government's chief function was to foster cooperation between competing and interests in society. -
Blacks During The Great Depression
Blacks were only barely accepted and only worked on sharecropper farms where they made a very small amount of money. -
Schools
2,600 schools were shut down and more than 300,000 kids were out of school. -
FDR
President Franklin D. Roosevelt's first one hundred days in office were known as "The Hundred Days." During this time, he presented a wide variety of legislation to Congress which brought relief to the needy and helped boost the economy. "The Hundred Days" set a new standard for Presidents and members of Congress that followed Roosevelt. -
The Hoover Dam
In the fall of 1929, Hoover finally was able to authorize construction of Boulder Dam then later called to Hoover Dam. It is at 726 ft. high and 1,244 ft. long. Generators at Hoover Dam begin to transmit electricity from the Colorado River 266 miles to Los Angeles, California. -
Dust Bowl
The dust traveled hundreds of miles and a windstorm picked up dust from the plains. Kansas, Oklamhoma, Texas, New Mexico and Colorado came to be known as Dust Bowl because of the windstorms that kept occurring. -
Social Security
Soical Security is and act that was created by a committee chaired by Secretary of labor Frances Perkins. It has 3 major parts : 1. old-age insurance for retirees 65 or older. 2. Umemployment compensation system and 3. Aid to families with dependent childern and disabled. -
Beginning of WWll
World war 2 first started Sep. 1939 when Germany invaded Poland. Adolf Hitler and the Nazi came to power, campaigning against the Versailles Treaty restrictions. Immediately, Hitler began taking over. In reality, the Allies knew but were unwilling to react. The war included many of countries of the world. Global military conflicts and over 70 million people died.
