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The Great Depression was the deepest and long-lasting economic downturn in history of the Western industrialized world. In the U.S, the Great depression began soon after the Stock Market Crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. The Great Depression did not only impact the U.S. but the whole world. However, we will be focusing on how it affected Canada and Latin America.

1. The United States analyzed the policies of Hoover and FDR

2. Canada analyzed the policies of King and Bennett

3. Latin America did not analyze any policies (none made) but dealt with the ISI (Import Substitution Industrialization)

There were panics per decade: from 1819 to the panic of 1911. Throughout these panic years, the economy had continued to grow until 1929 when the Stock Market Crash turned Panic Attack USA to Depressed USA.

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What were the Causes of the Great Depression?  

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What were the Causes of the Great Depression?  

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Answer: The economic boom of the 1920's

Agriculture in America

Before WW1, Europe caused America to be in debt to them because of the increase in American goods due to the high demand. As time flew by, America had switched roles with the Allies (France and Great Britain). 14 months after WW1, France and Great Britain owed America about 10 million dollars for their funds in armory and other resources. This shift from wartime to economic peace led to a depression. In 1919, the GNP was at about 4,980 but then by 1920 it decreased by 10%. Which then put the wages of farmers and other career workers at 22%.

Manufacture

The high demands from the neighboring Allies because of War led to increase of manufacture and products. By the influence of modern technology, helped the economy by moving to electricity. Many companies went from coal to electricity because of the positive benefits. These changes also lead to the production of military needs to be canceled.

The effect of the Assembly Line

To keep up the production of locomotives, thus by the Ford Company, using the assembly line attracted foreign workers. By the increased number of workers, more products could be made. Which then led to the upper class buying these products. The more the rich bought, the more it helped the companies who made the car, produced the oil, or made the steel. This also triggered the effect of Fords competitors to start raising their wages because of the success of Henry Ford’s company.

Technology Advancement

Having celebrities in the 1920s was an influence in society because by making films and products that other citizens love, helped to spread the change in clothing, and other health care products. By technology being advanced made the Movie industries, consumer products increase by the high demand of citizens (specifically the Upper Class).

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What event in 1929 initially put America, Canada, and Latin America in a Great Depression? 

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What event in 1929 initially put America, Canada, and Latin America in a Great Depression? 

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Answer: The Stock Market Crash of 1929 & Several Panics

Many people during the 1920's were investing too much money into stocks as a way to make money instead of just leaving their money in a bank to keep the same balance. By the various panics of implying that the Stock Market would crash, this essentially drove stock prices down (very big problem). Due to this crash, millions of Americans were unemployed, businesses collapsed, and many banks were unable to give depositors their money. In September 1929, prices began t fall as investors began to lose confidence in the companies they were investing in. Then, on Tuesday, October 29, 1929, the Stock Market crashed as investors quickly sold their shares before they lost their money too. Therefore, the depression affected Canada and Latin American countries, making the 1930's a time of change and hardship.

Fun Fact: The Great Depression was experienced as the world's most economic disaster and has kept that reputation.

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Answer: Black Thursday, Friday, October 25, 1929

Due to the Stock Market Crash, 'Black Thursday' was created because 12.9 million shares were sold, with a total loss in share price value if $14 billion (equivalent to a 11% market loss). Basically, Black Thursday marketed the start of a steep drop in share prices.

The effects of the crash revealed:

1. inherent problems within the U.S. economy

2. those who lost money couldn't buy a home, car, or goods

3. borrowers were unable to pay back loans

4. companies were in a pickle about whether to produce goods or not

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Who was the President during the Great Depression? 

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Who was the President during the Great Depression? 

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Answer: Herbert Hoover 1929-1933

Herbert Hoover promised to continue the idea of minimum government involvement in citizens lives. He thought that this would let businesses regulate themselves without the help from the government. Hoover supported the Federal Reserve Monetary Policy which took money out of the economy. Instead of increasing the supply. He believed in voluntarism which made the citizens try to fix the economy rather than the government.

What Actions did the Hoover Administration take in response to the Great Depression?

1. The Hoover administration rejected the idea of direct government aid in response to the Great Depression. The reconstruction Finance corporation signed a law in 1932 which authorized a 1.5 Billion dollar budget to public work projects (housing, railroads, highways, bridges, etc.). In contrast, only 20% of the 300 million funding were used on construction programs. The rest were given away or kept by unstable financial banks. This effect lead to the retaliation of citizens made them lose faith in the bank’s financial health.

1. The Smoot- Hawley Tariff took a response to the great depression by having negative effects on international trade. The highest tariff in US history was 66% to imports on goods. From this decision, the European Government retaliated in a negative way, which then limited the international trade between the US and Europe. Income tax went from being 25% up to 63%. To make problems worse: the poverty and unemployment of the Depression.

1. Volunteerism took a response to the Great Depression by fearing the government was doing too much. Hoover attempted to persuade business leaders and charities to act in the aid of the citizens. These adjustments lead to the hungry being fed by local churches and organizations such as the salvation army. Ohers included prominent business leaders to be persuaded by reducing the hours of workers and maintain pay rates.

1. The Agricultural marketing Act was a response to the Great depression by allowing 423 million dollars set aside to help stabilize farm prices. The establishment of the farm board was used to make loans toward the co-ops which would use the money to purchase excess goods and store them until prices rose. In response this reduce supply.

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The value of this document was to show the effect of unemployment rate percentage when Hoover was president to when FDR first held office. The higher the bar, the more people that were unemployed, which also meant that the economy was doing really badly from 1933 to 1937. It peaked around 1933 and 25% unemployment rate which is when FDR got elected as president. The limitation of this document would be that it did not show equal amount of years between Hoover and FDR based on the unemployment rate of citizens.

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How was America saved during the Great Depression? 

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How was America saved during the Great Depression? 

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Answer: The Presidential Debate of 1933 - FDR President!! :D

In 1932, in the year of the Great Depression, one quarter of the American workforce was unemployed. Once Roosevelt became president, he acted swiftly to try and stabilize the economy, provide jobs, and help citizens who were suffering. Thus, FDR created the New Deal that aimed to restore some measure of dignity and prosperity to many Americans. More than that, Roosevelt’s New Deal permanently changed the federal government’s relationship to the U.S. populace.

The New Deal provided americans with the reestablishment of the nation's banking system. FDR called it the 'Bank Holiday' because he ordered all banks to close so that the people could not withdraw more (un)useful money. After that, Roosevelt pushed for the Emergency Banking Act  which reorganized the banks and closed the ones that were insolvent. In his first “fireside chat” he urged Americans to put their savings back in the banks, and by the end of the month almost 3 quarters of the banks reopened. As a result, he rescued the nation’s banking system. After that was successful, FDR pushed for the Glass-Steagall Act. The aim of Roosevelt's New Deal was to provide relief, for those that were suffering due to the effect of the GD, recovery, of the depressed economy (however, the WPA helped the economy kick start by giving 8.5 million people jobs through public work projects), and reform, to prevent serious economic crises in the future.

Criticism
Many charged him with centralizing power in his own hands by controlling both the government and the Democratic party. Roosevelt on the radio and the end of the banking crisis On March 12, Roosevelt addressed the nation by radio. Sixty million people listened to this first of many "fireside chats." He said, "I assure you that it is safer to keep your money in a reopened bank than under the mattress." When banks opened on March 13, deposits far outweighed withdrawals. The banking crisis was over.

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Franklin D. Roosevelt and helping minorities =) 

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Franklin D. Roosevelt and helping minorities =) 

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Was FDR considerate of Minorities?
Answer: Yes, very much so

The New Deal had an impact on the movement to secure equal rights for Blacks during the difficult years of the 1930s and beyond. And from the New Deal’s educational programs, which taught over 1 million illiterate blacks to read and write and which increased the number of African American children attending primary school. The National Youth Administration, under the direction of Aubrey Williams, hired more black administrators than any other New deal agency; employed African American supervisors to oversee the work the agency was doing on behalf of black youth for each state in the south; and assisted more than 300,000 African American youth during the Depression.

African Americans also benefited from the Federal Music Project, which funded performances of black composers; from the Federal Theatre and Writing Projects, which hired and featured the work of hundreds of African American artists. The WPA was employing approximately 350,000 African Americans annually, about 15% of its total workforce. Civilian Conservation Corps was the percentage of blacks who took part climbed from roughly 3% at its outset in 1933 to over 11% by the close of 1938 with a total of more than 350,000 having been enrolled in the CCC by the time the program was shut down in 1942.  (David Woolner - Historian for the Roosevelt Institute)

The President appointed a far greater number of blacks to positions of responsibility within his government than any of his predecessors, so much so in fact that this group became known as the “Black Cabinet” or “Black Brain Trust” in the press. FDR was also the first president to appoint an African American as a federal judge; to promote a black man to the rank of Brigadier General in the Army; and, incredible as it might seem, the first president to publicly call lynching murder — “a vile form of collective murder”-which W.E B. Dubois applauded as something that sadly was long overdue. Overall FDR’s administration tripled the number of Africa Americans working for the federal government, including thousands of black engineers, architects, lawyers, librarians, office managers, and other professionals, and under his leadership, and with the strong support of Eleanor Roosevelt, the Democrats included the first specific African American plank in the party platform at the 1936 convention. (David Woolner - Historian for the Roosevelt Institute)

Moreover, in spite of the best efforts of federal officials like Harry Hopkins to forbid discriminatory practices among neighborhood relief agencies, such practices often continued at the local level, especially in the South. But in spite of these and other shortcomings, the willingness of the Roosevelt Administration to recognize the existence of a racial problem in American and to take steps at the federal level to ameliorate that problem, was, as Sitkoff notes, unprecedented. It made it clear that the federal government had a responsibility to ensure the civil rights of all Americans were protected. (David Woolner - Historian for the Roosevelt Institute)

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How were women viewed during this time? 

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How were women viewed during this time? 

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1. Women took the job of the men while they served in the War but that soon depleted after the war women were told to give their jobs back (quit).  From the war ending, immigration acts were held in the U.S. as to limit the number of foreigners into the country. Although minorities and women made many economic opportunities for themselves after WW2 because of the labor force needed more workers.

1. In 1920 women were given the right to vote, which allowed them to have certain changes and opportunities. In this change, technology played a role in the workforce by having typewriters, phone holders, etc. These changes came with also the new attitudes of women.

1. Women did not have the right to go to college because they were not allowed to have an education. The North Carolina female’s high school helped women to go to school. There opportunities were teachers or nurses because those jobs were suitable for women. However, in 1921, the NCSU enrolled its first female student but it wasn’t until 1926 that North Carolina said that women were allowed to graduate for the decree offered by the college.

1. Also in the 1920’s, for the first-time African American artists, authors, and musicians were recognized for their contribution into world culture. Their goal was to find outlets for group expression and self-determination as a mean for achieving equality and civil rights through the NAACP. After WW1 broke out, American factories experienced a shortage of workers, many African Americans believed (in the South) that it was their chance to make a name for themselves. They migrated to the north and influenced certain cities like Detroit, Chicago, and New York. After a while the “Shuffle Along” became a smash hit on Broadway which was also influenced through white culture. This was the goal that the Harlem Renaissance was aiming for and in response more opportunities came about.  (A&E Networks)

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The Dust Bowl - Compare and Contrast

The dust bowl was a period in 1930 that affected U.S. and Canada by suffering environmental damage that lead to a severe drought. This effected farmers because the topsoil would be eroded away (which was essential to these crops as nutrients). By having this problem farmers had trouble in selling and making their crops which lead to severe debt issues by not being able to pay off loans and purchase resources to make their products. Caroline Henderson: “Letters of the Dust Bowl” she was the wife of a former farmer (Will Henderson) she provided a portrait of the farmers who stayed to face the harsh conditions on the southern plains.

The dust bowl had a negative impact on the agriculture resulting in crop production to stop for a minimal amount of time leaving farmers across both U.S. and Canada of international trade which was also affiliated with the Great Depression.
Hoover: U.S. and Bennet: Canada (both countries raised taxes on imports in an attempt to protect domestic industry from foreign competition. Tariffs were placed as 66% between 1929 and 1934 (Hawley-Smoot Tariff). Incline of trade resulted in the decrease of money flow through the economy of both countries.

Decrease in money flow is caused by different events in both countries. U.S. decrease in money was caused by the halt of domestic goods and purchases. The halt in demand for the goods affect production which affected employees (because the less items you need to make, the less people you need to make those products and or gather them). Canada decrease in money was caused by the over-dependence on profits from exports. Canada depended on other countries for international trade: therefore when demand from other countries for Canadian products fell, sales and profits plummeted. In 1930 wheat exports yielded $215,753,475 in profit as for the country itself. Then by 1936, this number decreased to $148,576,975. Canada depended on exports from international trade which caused the economy to diminish as profit began to fall.

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Impact on Canada's Agricultural Regions and Cities

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Impact on Canada's Agricultural Regions and Cities

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1. In months leading up to the wheat crop crash, speculators claimed Canada's wheat production for 1928 would be excellent. Because of these predictions, people invested large amounts of money into the crop. Unfortunately, 1928 was a terrible crop-yielding year, and Canada suffered a crippling agricultural setback, despite receiving a $500 million support grant from Canada's Agricultural Board.

1. When citizens used their credit to buy market shares and the market crashed, the citizens could not pay back their debts. Banks suffered because they lent money that people could not pay back. The Canadian government decided to shift the economy away from agriculture and toward industrial manufacturing and international trade.

1. 1930 Bennett's initial plan to raise tariffs in an effort to protect Canadian manufacturers backfired, however. By raising tariffs, Bennett alienated Canada's few remaining trading partners. Because of the tariffs, the number of exports decreased and production costs increased, which ultimately harmed many Canadian companies. Bennett's economic practices led to the emergence of the “Bennett Buggy”, which a car was pulled by a horse.

1. In the 1920s before the great depression took place many companies agreed to expand on production of goods and the demand for them. In the decision they agreed that the money had been overused to construct these new factories but due to these industries taking this idea into action, they overlooked this idea. Instead they continued to spend money on building new factories and these over produced goods were left in factories without use (wasted). The reason why this happen is because workers were not being paid enough to raise the prices for the goods which was affected by their low wage income.

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Success of R.B. Bennett in helping Canada's Depression

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Success of R.B. Bennett in helping Canada's Depression

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1. The citizens of Canada were disheartened with Bennett's failed attempts to solve Canada's economic problems, and they were ready for the proven leadership of Mackenzie King. Bennett created the Unemployment relief Camps that had a few crucial differences from F.D.R’s programs which led to this plan being unsuccessful.  These camps only provided workers with a minimum wage of 20 cents a day which equaled to 6.00 a month. (Not enough to live off of because 12*6 = $72.00. These wages were not reasonable for the workers to live off of and also unfair because of the 44 hour weeks the men were doing and in helping them to escape their debt problems.

1. By the benefit of providing food, shelter, and medical care: these camps treated the men poorly by using military discipline because the job separated them from their families. Citizens strongly criticized because the program was unsuccessful in providing the unemployed with reasonable wages in comparison to work hours. The program was eventually shut down after an outbreak in Regina and only about 170,000 were relieved.

1. The Tariff reform was promised by Bennett to Canada which he brought back these low tariffs to help with marketing. By trying to stay to his word, he raised these tariffs to 50% which eventually lead to a negative effect on the goods that Canada wanted. Also by increasing the tariff products were too high in cost which caused them not to be bought.

1. Bennett established the Unemployment and Farm Relief act in 1931. This act allowed there to be an unlimited spending amount for relief, there were many project set up in the Canadian National Parks. All the funds that went towards this act allowed people to have road building projects in town, also some of the funds were set aside for the National parks.

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Success of Mackenzie King in helping Canada's Depression

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Success of Mackenzie King in helping Canada's Depression

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1. King built similar housing development programs which resulted in success. King passed the national Housing act of 1938 which worked to “promote the construction of new houses, the repair and modernization of existing houses, and the improvement of housing and living conditions.

1. Similar to King, F.D.R. developed the Federal Housing Administration Act in 1934 as part of his New Deal. The F.H.A. worked to increase homeownership in America by motivating banks to provide mortgage loans to American citizens. - The agency allowed housing to be purchased for a down payment that is generally 10% of the home (make housing more affordable)

1. Mackenzie King implemented the Reciprocal Trade Agreement in 1935, and lowered tariffs on goods in order to show the American government that trading with the United States was a win for Canada. He also focused on maintaining and improving Canada's struggling industrial sector. Under his leadership, Canada created two major national companies, the Canadian Radio Broadcasting Commission and the Bank of Canada. Both of these companies helped maintain stability in the Canadian economy in the late 1930s.

1. The largest economic shift for Canada came in 1939. With news of a possible war in Europe, goods and materials were again in high demand, initiating a huge increase in trade. The government assisted by supporting the war effort and giving incentives to businesses. Unemployed men were able to enlist in the army and a vast number of jobs were created in preparation for war. The outbreak of World War II helped Canada move away from its economic uncertainty, and the 1930s came to a close with Canada emerging once again as a stable economic power. Although the 1930s were a time of despair for many Canadians, the new decade brought hope for an emerging industrial country with a strong economy and a stable government.

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The following information is from a poster I created in 11th grade

The Beginning

On October 26, 1917, Brazil joins the side of Allied Powers in World War 1 because of the threats from German policy. This policy was held for two years from 1915 through 1917 which Germany declared the areas surrounding British islands as War Zones; in which all trading ships would be attacked by the German Navy.. By doing so Allied blockades were not able to trade with Europe causing their investment to decrease drastically. From this effect, Brazil relied on trade with the U.S.. In which they invested $50 million in 1914 and by 1930 it was $557 million.

The Effects Demand led to overproduction.

The decline of goods had an negative impact on Brazil’s economic business. In December of 1929; there was an 40% decrease in sales on coffee from exports on trade. The decline leads to one million Brazilians being unemployed from rural to urban areas. Many tried to find work in the city but were unsuccessful. By having an balance between many citizens unemployed and employed, the people did not have enough money to support themselves because of low wages and not being paid by the government for months at a time.

The causes

Brazil depended on coffee as their main export which made up over 70% of the country’s income. The Sao Paulo Institute purchased coffee from Brazil which kept their demand and prices high but to pay for the goods Brazil made loans with other foreign banks to receive income from transportation tax. This idea was called valorization in which other countries increased their production of coffee but limited Brazil’s demand in the area. After WW1, Brazil’s business activity slowed down due to loss of trading exports but in 1923 their position was better because of the world demand increase. In doing so trade doubled by 1925 which Brazil was able to increase its imports to help their economy. Although in 1929, the Wall Street Crash impacted the U.S. greatly. The event started on October 28th in which U.S. stock market collapsed on world trade and payments fell quickly. During this time coffee was still an major export and in 1929, 72% of Brazil’s foreign exchanges came from coffee. Which in turn prices fell again between September through January of 1930. Also, during these years Brazil’s agricultural products were good but falling The Effects demand led to overproduction.

Response from government

During 1930-45, Getulio Vargas was held as president during Brazil’s Great Depression. He focused on tackling coffee overproduction: which was taking large amounts of coffee that were brought and discarding them to prevent further decrease in prices. In 1931-44 the government had destroyed 78 million bags of coffee and by 1939 the surplus of coffee had decreased. Vargas also introduced a new ministry of labour, Industry and Communications in November of 1930. This helped to regulate industrial relations and promote development. In return, the federal government gained new extensive powers to control prices, wages, and labour relations. By Vargas helping the coffee producers, the Brazilian government made other goods since the demand for coffee was slowly decreasing. Certain crops, like sugar, livestock, and cotton were produced. Sugar could not be grown because it did not compete with prices of other countries. As for cotton, it's production on exports went from 2% to 18%. In relation, Vargas reduced imports by 75% in 1929-32 however since the depression was still taking effect Brazil had an balance of trade through the Substitution Industrialization: which is an policy that encourages countries which advocates replacing foreign imports with domestic production. ISI is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products.