WW1 ends – The ending of WW1 meant that the European countries were able to meet their own demands and therefore did not need any more supplies from America. Farmers suffered from overproduction and could not afford to keep their homes or pay mortgages, some farmers even decided to become sharecroppers. In 1924, 600,000 farmers went bankrupt. Also, there was stiff competition from Canadian, Australian and Argentinean farmers who were selling vast amounts of grain to the world market. Over-production – Fewer products such as cars, consumer good etc were not being sold as factories were making more goods than Americans needed or could afford to buy.
Many factors caused the economic condition in America to change in the late 1920’s resulting in the Great Depression. These factors include World War One, individual debt, business failure, farming decline, banking failure, and the stock market crash. World Depression was caused by World War one because the demand for American products reduced after the war resulting in too much supply with limited demand. Production was lowered and jobs had to be cut, leaving many without jobs leaving many in debt because many people took out loans or stocks during the war. Many people did not have money to spend in businesses and businesses also took out loans that needed to be paid back.
Hoover’s assertions accurately portray the conservative ideals of the federal government adopting a laissez faire policy towards the economy. In addition to encouraging a laissez faire attitude, Hoover hesitate din passing legislation to bring about reform and relief to the economy and citizens who lived in squalor. Again, President Hoover emphasizes that it is the responsibility of private, state and local government to pass legislation pertaining to helping individual citizens (Doc B). Furthermore, Hoover sympathized with businesses rather than the common man, a commonplace in the right
The most severe influenced by the Great Depression was the farmers. Wheat, cotton, tobacco and lumber could not export so that it caused the farmers to default on their loans,
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.
To the government the whole reason of the law was to guarantee land owners profits of which they had became accustomed to during the war. However opponents of the regime both inside and outside of the regime only saw the law as a class piece of legislation in which the law saved landowners from three things: cheaper foreign grain, stabilised prices and making corn more expensive for the consumer. This concept and idea was not new, a similar law 1804 had been introduced to guarantee 80 shillings a quarter. In spite of this the government had problems to face including riots, petitions and demonstrations. The main protest for this law, was the Luddism riots and machine breaking.
This period is a mixture of corporations taking over and “old” farmers either doing what is necessary for them to feed their children or they flee to California where work is “guaranteed”. “…Because those creature don’t breathe air, don’t eat side-meat. They breathe profits; they eat the interest on
Woodrow Wilson’s Development in American Business Interest Woodrow Wilson described him self as a conservative, yet did not believe that “government must keep its hands off the workings of the economy” instead he felt government should “legislate to protect workers welfare and to regulate corporations”(9). While at Princeton University, Wilson studied history and political science and envisioned detailed solutions to national problems. While president, he now had the power to solve the issues, which he felt needed reform. During this time the United States was changing into an economic super power, monopolies and trusts were controlling the economy and exploiting workers; there was an obvious need for reform. One of Wilson’s first concerns was to reduce tariffs.
They had to borrow money from the bank to buy machines. Farmers in the Great Plains had bigger problems. Cattle ate grass so the soil was being blown away, so the crops wouldn’t grow. And little rain fell in the 1930’s. Dust was blown everywhere.
The astonishing frequency of peasant revolts in the six years and two months of Alexander II’s reign prior to the Emancipation Edict (474 revolts, accounting for 32% of all peasant revolts in 19th century Russia according to Ignatovich’s figures) was clearly a contributory factor. The result was the abolition of human bondage which was, if nothing else, an increase in status for Russian peasants. The effectiveness of peasant opposition to serfdom can be contrasted with their reluctance under Stalin to become part of collective farms or kolkhoz which had to deliver an assigned amount of grain to the state. They even slaughtered their own resources to spite Stalin, with the number of horses declining from 34 to 16.6 million between 1929 and 1933. However, collectivization could not be averted and this time peasant revolts was not enough to direct government policy in their favour.