However, it was not long before the National Guard defeated the strikers. Labors of railroads were forced to accepted pay cuts, and strike leaders were arrested (Schultz, 2012). More than a hundred 100 people perished is the strike, and serious damage occurred in cities where riots took place. These actions had a negative affects in the public view of the labor workers. The destruction caused by protesting labor workers gave the industry a bad name in society.
On Black Thursday, The Wall Street Crash of 1929, October 24 also known as the Great Crash was terrible, it was the worse stock market crash ever. The market crash was one of the major causes that led to the Great Depression. There was a huge crowd of people trying to withdrew there life saving but couldn't. They were left with loans and debt they couldn’t pay. Two Months after the crash , stockholders had lost more than $40 billion dollars.
These are most important reasons h resulted in the TUC calling a general strike in 1926. An important reasonch year due to the awful and dangerous working conditions.This infuriated the miner unions and as a result a general strike was planned for May which had the TUC's full support Political reasons: Dawes Plan dramatically reduced the amount of money Britain made exporting coal. In 1925 when the plan was put into action Germany were enabled to pay off their outstanding debts from WWI by exporting “free coal” to other EU nations as a way to pay off their debt. As a result the British mining industry was hit heavily financially and wage reductions were reduced which angered the mine
Explain why the TUC called a general strike in 1926? Between 1918 and 1923 there were many economic problems facing Britain, which led to the miners not being happy with working pay and conditions. The miners formed a triple alliance with the transport workers and railway men. This means if the miners went on strike, the other 2 would also strike, causing a mass disruption to Britain. The first signs of disruption that led to the general strike was the fact that other countries such as Poland were becoming a more predominant exporter of coal, and the only way to stop Britain’s coal industry was to higher the price of coal, extend miners working hours and reduce pay.
Farming and rural areas suffered as crop prices fell by approximately 60%. There were many causes of the Great Depression, ranging from poor spending and over production to banks failing and the stock market crashing. Paragraph 2: Due to the Roaring 20’s, people were overconfident due to the information given by bad leaders, which led to poor spending. Doc A+B: According to the business cycle, there was going to be a 5 year growth for everyone in the US. -They would all become rich and poverty would just go away (Words of President Calvin Coolidge) Doc C: John T. Raskob, a well-known economist, told people to buy more stocks and in invest in banks and you’ll become a millionaire.
Working conditions and treatment in the work place at this time were harsh, poor and inadequate. Reforms that had been introduced were frequently ignored by employers. The hours were extensive and they worked for little pay. Yet the workers did not complain in fear of being sacked. Even though unions had moved to improve the rights, justice and conditions of the workplace, it was not surprising that many workers were sacked for simply joining the unions.
Going on its third year after the Wall Street Crash, the economy faced several obstacles in gaining ease. These impacts include: 12 million people out of work, 12,000 people being unemployed everyday, 20,000 companies bankrupt, 1616 banks bankrupt, 1/20 farmers evicted, and 23,000 people who have committed suicide(highest ever). In having no system to benefit the unemployed, some people starved to death. For some cases, men considered setting fires in forest to have temporary employment as fire fighters. Since no one was able to afford animals, farmers had to kill them off.
When looking at the strike from the Functionalist/Order point of view the miner’s decision to strike would be seen as counterproductive to social stability and growth. The miners have a place in the world and as well as Duke Power. The fact that the miners are at the bottom, so to speak, and the owners at the top is of no importance. Each is necessary to social stability and both have a part to play. There must be someone to work and someone to pay those workers.
Most people at that time were actually just starting to get suspicious of organized labor. The factory companies were trying to justify their treatment of their workers. Thomas Nast’s cartoon in Harper’s Weekly demonstrates that people viewed the strikers negatively as communists trying to undermine capitalism. The “Gospel of Wealth” was a theory spread by specific people like Cornwell. It states that wealth can be obtained by anyone that is willing to work for it and God will provide you with it at some point, viewing the poor as lazy people.
In 1929, experts started to sell their shares heavily before the values fell even further. Eventually, everyone wanted to sell their shares but nobody was buying. This led to complete collapse of prices and thousands of investors lost millions of dollars. Tariffs – Due to America putting Fordney McCumber Tariffs on European goods, Europe responded by also putting tariffs on American goods so US business men found it hard to sell goods to European