HIST 2013 Lecture Notes - Lecture 6: Causes Of The Great Depression, Stock Market Crash, Asian Americans
14 Dec 2017
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Loose credit loaning to those who were not fit. Over-reliance on construction and automobile industries: unequal purchasing power. Only 20% had wealth in this time: weak credit structure. People not able to pay back loans: u. s. position in international trade. Farmers: -1/3 of farms lose their land in 1930s. Women: -more (married & single) continue to look for work. Begin to work as secretaries, telephone operators (women"s" work) Took the jobs away from african american women. Families: -no longer buying clothes; back to making them. Movies: provided escapism from the horrible conditions of life @ the time. 1929-31: voluntarism: asked employers not to layoff, workers take on more hours. 1932: reconstruction finance corporation (rfc) --> hoover"s greatest response. Loans that were given to businesses, etc who would help the people in return. Only 30 million of the 2 billion was given out. Refused to give 25 million to feed ar farmers, while giving out 45 million to feed live stock.
