New Deal America 1929-1939 - New Deal America 1929 1939 The Great Depression and the New Deal \u25cf Hoover in Control \u25cb Hawley-Smoot Tariff \u25a0 Tariff

New Deal America 1929-1939 - New Deal America 1929 1939 The...

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New Deal America 1929 - 1939 The Great Depression and the New Deal Hoover in Control Hawley-Smoot Tariff Tariff on imported goods to reduce competition “I have no fear for our country” Causes of the Great Depression Stock Market Crash (Black Tuesday, Oct 24, 1929) People not trusting banks Speculation - too much faith in Margin Buying - people were pulling money together, lottery, group of people buying stocks to get better chances of winning more money Investment Trusts - ^^ Overpricing - things were being purchased that had little value The Great Depression Stock Market Crash Low wages/over saving Overproduction Misdistribution People committing suicide Many homeless People would give up their children to richer people The toll of the Depression Personal income fell by ½ unemployed 9,000 banks closed Efforts at Recovery European economy collapse - couldn’t pay the U.S back from loans during WW1 The Human Toll
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