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9 Cards in this Set
- Front
- Back
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Unequal Distribution of Wealth
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"Disparity of wealth"; 50% of the population was near the substinence level.
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Over Supply/Surplus of Goods
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Less demand to purchase goods; Industry declined in producing; People are laid off.
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Lack of Diversification in the Economy
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By the end of the decade, people only bought one car and related industries dried up.
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Farmer's Depression
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1/4 lost their land by the mid-decade.
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International Economic Dislocations
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Britain and France were pressuring Germany to pay reparations; Germany borrowed $32 billion from U.S.; Britain and France owed us over $10 billion before start of the war
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Unregulated Stock Market Activity
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Buying on the Margin ($1 down, $9 borrowed)
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Lack of Leadership
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1. McNary-Haughen Bill Vetoed
2. People knew the tariff could be dangerous 3. Friends were appointed to office |
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Stock Market Crash
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October 29, 1929 - Black Tuesday; Margin Calls - when values went down, word would get around to get out!
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Bank Failures
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In 1930-1933, 1,700 banks closed
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