period 4 Feb. 28

Today in class we started the notes on Chapter 25. We reviewed the causes of the Great Depression and the attempt (or failure) to fix the economy by President Herbert Hoover.

Causes
-The Stockmarket
-the rise in the popularity of the Stockmarket brought on a wave of people investing in risky enterprises.
-the beginning of the stockmarket crash caused creditors to start demanding repayment. this caused the decline of the market.

-Federal Reserve Board (FRB)
-The FRB contributed to the Great Depression due to it cutting the supply of money down.

-Hawley-Smoot Tariff
- To add to the trouble the Hawley-Smoot Tariff was passed. It raised the tariffs to a new high.
-The raised tariffs caused foreign countries to also raise thier tariffs causing the collapse of international trade.

-Wealth
-the distribution of wealth in the 1920's also helped cause the depression.
-The share of national income that went to the wealthiest 20% of the population rose by more than 10%.
-The share that went to the poorest 60% fell by almost 13%.

Hoover and his Trouble
-Reconstuction Finace Corporation (RFC)
- created by President Hoover in 1932 it was ment to offer jobs to the unemplyed.
-Bonus Army
-Upon returning from WWI, veterans were given a certificate worth $1000 in 1945. with the economic trouble the vets marched to D.C. and protested.
- A bill in Congress would cut the time but failed to pass. after the bill failed President Hoover ordered General Douglas MacArthur to clear them out.

Election of 1932
-the election of 1932 saw President Franklin D. Roosevelt into office in a landslide vote.


this is as far into the notes as we got. hope they help.