The Great Depression & the New Deal, 1929-1939

The Great Depression & the New Deal, 1929-1939 - The...

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Wall Street Crash- Selling on Thursday, so bankers bough millions of dollars of stock to stabilize prices, but on Black Thursday there was a mad frenzy to sell stock Causes of the crash- uneven distribution of income, stock market speculation, Lack of diversification (automobile industry), easy credit, overproduction, weak farms Hoover’s Policies Responding to Worldwide Depression Hawley-Smoot Tariff of 1930- raised tariffs to the highest ever- Europe retaliated by doing the same Debt moratorium- suspension of international debt payments Domestic Programs: Too Little, Too Late Agricultural Marketing Act- Fed. Farm Board Reconstruction Finance Corporation- propped up failing railroads, banks Farm Holiday Association Bonus March- demanded bonuses now, MacArthur brought tanks to destroy their shantytown Hoovervilles 20 th
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The Great Depression & the New Deal, 1929-1939 - The...

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