HST10-5-07 - The Great Depression: 10/5/07 Seeds of...

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The Great Depression: 10/5/07 Seeds of Depression Uneven wealth distribution – as productions increased, the proportion of wealth going to farmers was too poor to purchase central goods for production Consumer Credit - values of stocks quadrupled between 1920-1929…many investors were convinced that stocks were a good thing, some borrowed money to invest Agricultural Depression, 1920s – crops left to rot in the fields Stock Market Crash – 1929, “worst crisis in American History since the civil war”…black Thursday stock market crashed, 5 days later “Black Tuesday” worst day of the crash…GM=$73-$8(1932)…1930-26,000 businesses failed Immediate Impact The Run on the Banks – depositors rushed to the banks to withdraw their savings…banking systems ceased to exist by the time FDR was elected… Decline in purchase of consumer goods - The Depression in the Countryside – one in four out of work…agricultural depression began before the stock market crash…countryside had the highest suicide rates and
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This note was uploaded on 03/30/2008 for the course HST 202 taught by Professor Gisolfi during the Fall '07 term at University of North Carolina Wilmington.

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HST10-5-07 - The Great Depression: 10/5/07 Seeds of...

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