Apush Notes: Great Depression

A. The Great Depression was caused by an economic system step to the fore of balance. There was too much run with little demand. This situation was created by monopoly pricing, unsound banking practices, overproduction, high obligations, and tightening of m matchlessy supply by Federal Reserve Board. B. A slump in economic activity with over speculation in channel and get stock(a)s on margin caused the stock market to crash in October 1929. The stock market crash marked the beginning of Great Depression. C.The Depression was characterized by high unemployment, foreclosures on homes, farms and businesses, closing of banks, and the drying up of credit, low purchasing power, and hunger. numerous people grew concern that capitalism had fai lead and democracy couldnt provide solutions to problems. D. death chair clean, a strong advocate of rugged individualism believed in stripped government interference to deal with Depression. He based his policy upon provide optimism, expand ing works, and loaning money and struggling banks.E. In 1932 summer, 20000 impoverished veterans from the First mankind War marched on Washington demanding early payment of a pecuniary bonus that was due in 1945. After the bonus failed in Congress, chairman Hoover ordered the US army to evacuate the marching veterans from DC. The army, led by Douglas MacArthur, drove the veterans out. The armies handling the Bonus March ended Hoovers chance for reelection and fostered a growing fear of revolution in America. F.President Hoover and his republicans were accused for Depression in election of 1932. Franklin Roosevelt was elected president, assure to save capitalism, aid common man, and to provide work. Roosevelt was vague on his plans, eject he would try anything. G. FDRs plan to get nation out of Depression was called the New Deal. New Deal had policies of relief for the poor, recovery from Depression, and domesticise of the economic system. The first New Deal as passed during the first ascorbic acid days of his presidency.The left wing of politics liked the root and passed the idea through Congress. Economy fell back into recession. Black Tuesday The day the stock market crashed. No buyers. Rugged individualism Social outlook promoting ones goals and desires of independence. Hooverville This name was based on Hoovers blame for depression. Families lost their homes because they couldnt pay mortgages. Hawley-Smoot Tariff, 1930 Tax increase by Republican congress.Purpose was to satisfy US business leaders who a higher tariff would protect their markets from foreign competition. In retaliation, European countries made higher tariffs against US goods which reduced trade. Reconstruction Finance Corporation To prop up worn railroads, banks, life insurance companies, and other financial institutions. Emergency loans would stabilize these businesses. The benefits would go down to smaller businesses and bring recovery. Democrats scoffed at this measure, saying it would only help the rich.