The+Great+Depression

**__Key Terms:__**
 * The Great Depression **

**Revenue Act (1926)-** reduced federal income and inheritance hugely **Andrew Mellon-**Coolidge's secretary of treasury who was the main force behind tax cuts **S** **tock Market Boom-** a time when the stock market was doing really well, many people started to invest their money in stocks **Declining Exports-** our international trade was not doing well throughout the depression **International Debt Structure-** major contributing factor, many countries were in debt because of the war **"Dust Bowl"-** when dust would blow on southern plains which caused crops being blown away ** "Okies" -** farmers that moved from Oklahoma to other states in order to become more successful **Depression families-**did not own much, very poor and this ripped the family apart **Radio-**President Roosevelt would speak during radio talk shows about the depression **Self-blame-**self blame/self doubt made it harder to get out of the depression **Popular Movies-** Wizard if Oz; Beginning of Hollywood **Popular Literature-** Life Magazine
 * "Black Tuesday"- ** October 29, 1929 beginning of the crash on Wall Street...was a devastating day in history
 * Unemployment- ** unemployment rates began to soar and this caused a huge decrease in production
 * Women in the Workplace- ** many women joined the workforce, worked in terrible environments for low wage
 * Agricultural Marketing Act- ** reaffirmed the marketing agreements provisions of the Agricultural Adjustment Act of 1933
 * Hoover's declining popularity- ** Hoovervilles, places that placed blame on Herbert Hoover for the Depression

**__Important Notes:__** -it was the worst worldwide, economic slump ever -longest and most horrid depression ever experienced by the industrial world -lasted about a decade -caused by an imbalance of wealth, pushed by the federal government, which created an unstable economy -depression began by the crash of the new york stock market (october 1929) -"roaring twenties" was an era with much prosperity bringing in about $15.7 billion in six years -average wages for manufacturing jobs increased -flow of American investments slowed down with its slowing ecomony -depression hit the hardest to those who were mostly indebted to the United States -Britain's industry and export centers were badly effected until World War II -almost every nation tried to impose tariffs and setting qualifications for foreign imports -great reduce in international trade -over supply of goods -reduced levels of spending and production supported the downward spiral -3/4 of the U.S. population would spend essentially all their yearly income on consumer goods -United States began to rely on credit sales and luxury in order to remain even -idea of credit began to evolve and the total amount of credit doubled to $3 billion which led to a bad downfall -agriculture was dying -nationwide loss of confidence in the economy -most industries that were prospering were in some way linked to the automotive or radio industries

**__Important Dates:__** -began in late 1929 and ended in about 1939 -farm prices plummeted in 1921 -over 21 million cars were on the road by 1928 -11,000 United States had failed by 1933 -the United States manufacturing output had fallen 54% by 1932 -unemployment, in the United States as well as Germany, rose to 25-30% by 1932 -total value of world trade decreased by half by 1932

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