Effects of the great depression quizlet

In this famous photograph by Dorothea Lange, a destitute, thirty-two-year-old mother of seven captures the agonies of the Great Depression. Library of Congress. Please click here to improve this chapter. Hard times had hit the United States before, but never had an economic crisis lasted so long or inflicted as much harm as the slump that followed the crash.

Over , businesses shut down between and , contributing to the rise of unemployment. Some had borrowed money to keep going before the crash and could not afford to pay back their loans. Others had been hit by falling demand for goods as people had started to spend less money, especially on goods they did not consider to be essential. Most of the people who initially lost their jobs worked in the older industries, such as coal mining, textiles and steel production. By , other industries, such as banking, domestic services and teaching, were also affected.

Effects of the great depression quizlet

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More economic policies backfired. In this guide.

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The Great Depression of devastated the U. A third of all banks failed. Housing prices plummeted, international trade collapsed, and deflation soared. It took 25 years for the stock market to recover. While the Great Depression took a huge toll on the U.

Effects of the great depression quizlet

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None of the remedies adopted by the president or the Congress succeeded—not higher tariffs, nor restriction of immigration, nor sticking to sound money, nor expressions of confidence in the resilience of the American people. Black Americans faced discrimination everywhere but suffered especially severe legal inequality in the Jim Crow South. The accusation of rape brought against the so-called Scottsboro Boys, pictured with their attorney in , generated controversy across the country. In , Roosevelt won election as governor of New York. Over , businesses shut down between and , contributing to the rise of unemployment. Workers were plunged into poverty because of impersonal forces for which they shared no responsibility. Thousands of city dwellers fled the jobless cities and moved to the country looking for work. Starting in , the committee held widely publicized hearings. Once the Depression came, employers were therefore less likely to hire married women and more likely to dismiss those they already employed. When products failed to sell, inventories piled up, manufacturers scaled back production, and companies fired workers, stripping potential consumers of cash, blunting demand for consumer goods, and replicating the downward economic cycle. The fortunate could survive by simply deferring vacations and regular consumer purchases. Its pension program excluded domestic workers and farm workers, for instance, a policy that disproportionately affected African Americans. The government relied on landowners and local organizations to distribute money fairly to those most affected by production limits, but many owners simply kicked tenants and croppers off their land, kept the subsidy checks for keeping those acres fallow, and reinvested the profits in mechanical farming equipment that further suppressed the demand for labor. Despite impressive overall growth throughout the s, unemployment hovered around 7 percent throughout the decade, suppressing purchasing power for a great swath of potential consumers.

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The fortunate could survive by simply deferring vacations and regular consumer purchases. By , Roosevelt struggled to build congressional support for new reforms, let alone maintain existing agencies. On March 12, the night before select banks reopened under stricter federal guidelines, Roosevelt appeared on the radio in the first of his Fireside Chats. The codes also exempted those involved in farm work and domestic labor, the occupations of a majority of southern Black men and women. When suffering Americans looked to Hoover for help, Hoover could only answer with volunteerism. Farmers plowed up existing crops and left fields fallow, and the market price did rise. According to the federal census, from to the Mexican-born population living in Arizona, California, New Mexico, and Texas fell from , to , Long proposed a Share Our Wealth program in which the federal government would confiscate the assets of the extremely wealthy and redistribute them to the less well-off through guaranteed minimum incomes. More guides on this topic. With so many people out of work and without income, shops sold even less, dropped their prices lower still, and then shed still more workers, creating a vicious downward cycle. Roosevelt It is the total value of goods and services produced by a country in a year.