July 7 Notes - July 7, 2009 History 2112 The Great...

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July 7, 2009 History 2112 The Great Depression 1929-1941 World War 2 solved the Great Depression along with the New Deal Even before US entered the war, WW2 increased production and farm goods Franklin Roosevelt associated with the New Deal Did not damage economy because war was not fought on US soil Hoover was President when depression broke out 1929-1933 Andrew Mellon (semi to blame) for unequal distribution of wealth but in eyes of public president supposed to fix it, if not vote him out Approach to depression – voluntarism – government not engaged in handouts People who had money should contribute to food kitchens, homeless shelters Unlike WW1 – believed it was not the governments responsibility States economy was so bad, no one could afford to donate Homeless camps – “hoovervilles” – live anywhere they could find Could be miles long in junk yards with thousands of people – largest in Oklahoma Hoover was know for his large and elaborate lunches Smoot-Hawley Tariff of 1930: highest tariff in US history on imported goods 20,000 items on the list stop importing to prevent US from losing jobs in turn hurt US economy because trade partners heightened tariffs on US goods or stop buying all together Republican controlled the Senate/Congress Smoot and Hawley both lost re-election in 1932 National Credit Corporation 1931 (NCC) Withdrawals outnumbered deposits
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This note was uploaded on 01/24/2012 for the course HIST 2112 taught by Professor Flemming during the Summer '08 term at Georgia Institute of Technology.

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July 7 Notes - July 7, 2009 History 2112 The Great...

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