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Causes of the Great Depression

Causes of the Great Depression - I II III Causes of the...

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I. Causes of the Great Depression II. Economic, Social, and Political Effects 1. Experience of Workers a. Deflation and Unemployment b. The Crisis in the Cities 2. Experience of Farmers a. Debt and Declining Prices b. The Crisis in the Countryside 3. The Bonus Army III. The Political Fallout 1. Hooverism 2. Roosevelt and the Election of 1932 Hoovervilles Bonus Army Reconstruction Finance Administration Election of 1932 Experience of Farmers Radicalized people in the country Began to question capitalism Bonus Army Veterans of WWI Promised a big bonus 1,000 in 1945 Veterans want money now Early 1932, bill to give money early 30,000 veterans march into D.C. Political problem for Hoover, who opposes Bill doesn’t pass After many leaves, several thousand stay Hoover “evicts” from the camps in D.C. Large discontent for many classes with economic status Look to gov’t for financial aid Political Fallout Hoover response to depression underwhelming Didn’t know the depth of depression Tried talking up the system Looked out of touch Blamed foreign causes Had faith in free market system
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Hooverism is faith in system, decline giving help Refuse giving aid, against policy Worried about a deficit Bad idea to mess around with money Does almost nothing but talk up for three years Does one thing
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