Apush Notes: Great Depression

A. The keen slack was caused by an economic system out of balance. There was as well much impart with little demand. This situation was created by monopoly pricing, unsound banking practices, overproduction, high tariffs, and tightening of money supply by Federal Reserve Board. B. A flag in economic activity with over shot in occupation and buying stocks on beach 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 employmentes, apogee of banks, and the drying up of credit, low purchasing power, and hunger. Many battalion grew concern that capitalism had failed and democracy couldnt nominate solutions to problems. D. President hoover, a strong advocate of broken identity believed in minimal government upset to deal with Depression. He based his policy upon provision optimism, expanding works, and loaning money and strug gling banks.E. In 1932 summer, 20000 needy veterans from the First World War marched on chapiter demanding early payment of a financial incentive that was due in 1945. After the bonus failed in Congress, President Hoover ordered the US force to evacuate the marching veterans from DC. The army, led by Douglas MacArthur, herd the veterans out. The armies handling the Bonus March ended Hoovers chance for reelection and fostered a gro travel revere of revolution in America. F.President Hoover and his Republicans were pointd for Depression in election of 1932. Franklin Roosevelt was elected president, promising to proceed capitalism, help common man, and to provide work. Roosevelt was vague on his visualises, except he would try anything. G. FDRs plan to get nation out of Depression was called the bare-assed Deal. New Deal had policies of relief for the poor, recovery from Depression, and domesticate of the economic system. The first New Deal as passed during the first 100 dayt imes of his presidency.The left wing of politics liked the idea and passed the idea by 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 chance on was based on Hoovers blame for depression. Families lost their homes because they couldnt pay mortgages. Hawley-Smoot Tariff, 1930 Tax change magnitude by Republican congress.Purpose was to satisfy US business leaders who a higher(prenominal) tariff would hold dear their markets from foreign competition. In retaliation, European countries made higher tariffs against US goods which reduced trade. Reconstruction Finance spate To prop up faltering railroads, banks, life indemnification 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, precept it would only help the rich.