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Final HIST 102 jd

Final HIST 102 jd - -Factors causing Great Depression...

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- Factors causing Great Depression: 1)Lack of diversification in the American economy in the 1920s, prosperity had depended excessively on a few industries, construction and automobiles. 2) The maldistribution of purchasing power, leading to a weakness in consumer demand. 3)The credit structure of the economy, farmers were in big debt. 4)The declining exports, European demand for U.S goods declined. -Special problems of blacks in Depression: More than half of all blacks still lived in the South. Most were farmers, the collapse of prices for cotton and other crops left many without jobs, so they migrated to southern cities but the jobs there were been taken by whites, and blacks were been displaced by whites. -Americans’ reactions to Depression: People responded by committing to familiar ideas and goals, they responded eagerly to reassurances through their own efforts, believing they could restore themselves to prosperity and success; also they looked to government for assistance. Other blamed themselves for the bad situation. -Depression era popular culture: People placed radios on their front porches and invite friends over to talk and dance, and listened to comedies and dramas. -Hoover’s early responses to Depression: He attempted to restore public confidence in the economy, he asked businessmen not to cut production or lay off workers. He tried to use government spending to fight Depression. -FDR’s famous statements during the New Deal: “I pledge you, I pledge myself, to a new deal for the American people”, “The only thing we have to fear is fear itself” -FDR’s first actions as President: He delivered a infectious optimism that helped alleviate the growing despair. He was the first president to make regular use of the radio. -Emergency Banking Act: This bill sent by FDR was meant to protect the larger banks from being dragged down by the weakness of smaller ones. -AAA and succeeding agricultural reforms: it would tell farmers how much they should produce and would pay them subsidies for leaving some of their land idle. It also helped bring a rise in prices for farm commodities. -Intents of National Industrial Recovery Act: It would ensure that the incomes of workers would rise along with prices, and to help create jobs and increase consumer buying power, the administration added a major program of works spending. -Goals of Tennessee Valley Authority: It help to complete the dam at Muscle Shoals and build others in the region, and to generate and sell electricity from them to the public at reasonable rates. It was also intended to be an agent for a comprehensive redevelopment of the entire region. -New Deal agencies and purposes: FDIC, SEC: to police the stock market , CWA: put 4 million people to work on temporary jobs , FERA: grants , CIO: expanded the constituency of the labor movement.
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