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The Great Depression

The Great Depression - THE GREAT DEPRESSION I PRESIDENT...

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THE GREAT DEPRESSION I. PRESIDENT HOOVER A. 1928 ELECTION a. Coolidge was expected to run again in 1928 but when he was on  vacation he passed out notes saying he was choosing not to run  again b. Republicans—Hoover c. Democrats—Alfred Smith  d. Hoover was a self-made man, paid his own way through Princeton,  was an engineer then retired at the age of 40 and dedicated his life  to service.  e. Smith was everything that rural Americans feared, opposed  prohibition, catholic ( the first non-protestant candidate), KKK calls  him the anti-Christ  f. More people voted in this election than ever before  B. HERBERT HOOVER a. Won the election quite easily  b. Very can-do attitude devoted to public service  c. He supported the League of Nations  d. Concerned with the poverty of America  e. Supports farmers, passes a tariff to help them i. Hawley—Smoot Tariff—raised tariff to all time high, raised  prices consumers paid, promoted inefficiency, hurt export  with outside countries 
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II. THE GREAT DEPRESSION A. THE STOCK MARKET CRASH a. American people start to believe that things are going to keep  getting better since things were going so well in the 1920s b. Led to “get rich quick” schemes c. In the 1920s the stock values were going up as profits rise  d. By 1927 most stock values had doubled since 1921—American 
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