HIS 101 4-27-16 HW - Chapter 23 The Great Depression 1 What...

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Chapter 23 The Great Depression 1. What were the major causes of the Great Depression (do not include the Stock Market crash in your answer). Consumer debt. Speculation in stock market and housing. Speculating themselves. Symptom of the underline problems within the economy. Attitudes such as overexpansion. Not paying people more money. Overproduction of crop production. Rising inequality, declining demand, rural collapse, overextended investors, and the bursting of speculative bubbles all conspired to plunge the nation into the Great Depression. Farm prices in the South and West declined . Banks in agricultural areas tightened credit response. Smoot-Harley Tariff of 1930- overproduction and declining domestic consumption . International trade fell from 1929 to 1932. Panic . The people’s reaction to the market’s fall aggravated the economy’s other many failings. Patrons rushed to withdraw money before institutions closed. 2. In what ways did the depression change where people lived? Americans becoming unemployed and homeless. For farmers in Texas, Oklahoma, Kansas, and Arkansas, their only hope was to travel west to California (for rain, harvest, and money), migration of families out of the southwestern plains states.
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