Workers
In 1922 to 1929 six million families made less than a thousand dollars a year. One Tenth of One percent of families at the top received as much income as the families at the bottom. Every year about twenty five thousand workers were killed on the job and one hundred thousand were permanently disabled. Twenty five percent of workers and thirty seven percent of all farm workers were completely out of work. Andrew Mellon, one the richest guys in America, installed the Mellon Plan that said the top income brackets would have their taxes lowered from 50 to 25 percent and the lower income group would have theirs lowered 4 to 3 percent.
Other Causes of the Great Depression
Strikes
THe Impact of WW1 and the great depression
- Over Production of Products
- Loss of export cells
- Easy Credit
- People lost jobs, homes, and people were starving.
- Beamed from President Hoover
- Hoover tried to help the economy but put all of his money into big business
- Workers went on strikes for higher wages, better conditions and better hours.
- General Strike Committee: It began February 6, 1919 at 10:00 a.m. A walk of 100,000 working people brought the city to a halt. During this strike crime decreased and ended five days later because of the pressure from the international officers of the various unions and the difficulties of living in a shut down city
- March of the Bonus Army: The march started in the spring and summer in Washington in 1932 due to not having work and not being able to provide for their families. The Government was holding the veterans bonus certificates and Congress would not pay off on them. Many Veterans were treated harshly and then lead to mass chaos.
False Prosperity
- Depression problems of the poor extend to the rest of society. Americans were unhappy with the government and this lead to poverty and hunger among citizens. Which lead to people committing suicide and living with hopelessness.
Franklin Roosevelt
Start of the
Great Depression
- He defeated Hoover out of Presidency in 1933 and ended the March of the Bonus Army.
- He helped out Farmers and big businesses
- Created the AAA (Agriculture Adjustment Administration) and attempt to organize agriculture and favored larger farmers.
- Created the NRA (National Recovery Act which was aimed to fix prices and wages and limit competition with big businesses.
- Created the TVA (Tennessee Valley Authority which was a government owned network of dams and hydro electric plants to control floods and produce power.
- These provided jobs for the unemployed
Lusitania
Overview:
- The Stock Market Crash of 1929 also known as the Great Crash. On October 24, 1929 and was known as Black Thursday this is when stock prices began to decrease dramatically and then on October 29, 1929 known as Black Tuesday is when the stock market collapsed. This is known and the worst day in Stock Market history.
- Strikes: Worker, March of the Bonus Army, General Strike.
- False Prosperity: Poverty and Hunger, Unemployment, Death on the rise.
- Great Depression: Veterans, Teddy Roosevelt, Stock Market Crash
The New Deal
Created by Roosevelt in 1933 and aimed at stabilizing the economy and giving help to the lower classes. It was set up to keep from rebellions into revolutions. This leads to the recovery of the United States. It was also aimed to reform the financial system so that the US would not have a repeat of another depression.
The New Deal also gave federal money to writers, artists, and actors for a Federal Theatre, Writers, and Art Project.
QUESTIONS
Modern Implications
Pros and Cons
- Social Security Act: This Act still to this day helps limit what is seen as dangers in American life including old age, poverty, and employment also the burdens on widows and fatherless children.
- Labors to Protect Labor and All working people: Created restrictions on hours and outlawed child labor.
- Banking Securities: Things such as the FDIC (Federal Deposit Insurance Corporation) This was created to help banks that were troubled. Created by the Banking Act of 1933. This provides deposit insurance guaranteeing the safety of depositors accounts.
1.Why did the Bonus Army go on strike?
2. Did crime decrease or increase during the General Strike Committee?
3. When did the Great Depression start and why?
4. List two other causes of why the Great Depression started?
5. Who defeated Hoover out Presidency in 1933?
6. What did people call the slums that were in the Great Depression?
Pros: New Companies are still around today were built, The new laws/government aid were established, women got the right to vote in 1920 by the 19th amendment. The New Deal improved living standards
Cons: The KKK revived in the 1920's and grew into the north and gained 4.5 million members, The unemployement rate skyrocketed, there became great starvation and homelessness, the stock market crashed, and the Communist party was organized. The New Deal discriminated Black People and gave the Government to much power. When the New Deal was over capitalism remained in tact, the rich still controlled the nations wealth, laws, courts, police, newspapers, churches, colleges and the equality of concern for profit over human need remained.
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