https://padlet.com/tatianamartin08/mfwvm3ujz0ba Made with whimsy en-us 2018-04-04 13:45:51 UTC 2025-10-28 15:56:00 UTC hello@padlet.com tatianamartin08 https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248489657 The most severe economic depression in world history, the Great Depression critically hindered the health of the global economy, as well as the United States'.

After a period of great speculation on the U.S. stock market, in which millions of dollars were invested in shares, there was a sudden loss of confidence. These unsafe investment practices caused the stock market to crash and contributed to the Depression. Rural farmers collectively blamed their urban counterparts for the economic disaster, despite the U.S. government being responsible for regulating the financial system-- which was controlled by the laissez-faire-believing Republican party.

The greatest long-term causes of the Great Depression included:
-investors speculating out of greed, but with lack of knowledge of the credit system
-little government interference or regulation in the economy
-agricultural overproduction

]]> 2018-04-04 13:46:51 UTC https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248489657 tatianamartin08 https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248490880 The setback of the of the Great Depression not only discredited the Republican's laissez-faire system of handling the economy, but also provided Democrats an opportunity to win back both cameras in Congress and the White House.

Franklin Roosevelt became a front-runner for the Democratic presidential nomination in 1932. At the convention of that year Roosevelt promised to bring a " new deal for the American people".

Once inaugurated, Roosevelt closed the banks and stabilized the economy by providing jobs and relief to millions of suffering Americans.

Over the next few years, Roosevelt implemented many of his policies and largely expanded the power of the federal government by fulfilling his promise with New Deal reforms.

New Deal Programs:
Emergency Banking Act- empowered the Reconstruction Finance Corporation to purchase bank stock and allowed the Federal Reserve greater currency issuance powers
Banking Act of 1933- increased power of the Federal Reserve and established the FDIC
Gold Standard- Congress fixed the gold standard at $35 an ounce
Public Works Administration- subsidized jobs to decrease unemployment

]]> 2018-04-04 13:49:20 UTC https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248490880 tatianamartin08 https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491035 Among the hardest hit by the depression was Canada. Canada was severely affected because of its dependence on the United States and Great Britain.

Nearly a third of the labor force was out of work and wages fell. A fifth of the country depended on government relief or welfare. Following the year of 1929, national income fell a devastating 45%. The unemployment rate in Canada would not dip below 12% until 1939, the beginning of WWI. ]]> 2018-04-04 13:49:40 UTC https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491035 tatianamartin08 https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491140 The crisis quickly spread because of the importance of the capitalist system. Latin American nations often depended on the United States to loan money to them. 

When the Depression devastated the American economy, the United States charged Latin American countries debts on their loans, extending the effects of the depression to Latin America. Latin industry also suffered due to less production and high prices driving down consumer purchasing power.

Additionally, the U.S. refused to buy products unnecessary to their utility. As a result, the markets of Latin American countries suffered since the majority of their economy was reliant on their exports to the U.S. ]]> 2018-04-04 13:49:51 UTC https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491140 tatianamartin08 https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491257 African Americans: Black Americans were among the first to be let go from their jobs and suffered an unemployment rate nearly three times greater than White Americans. In addition, Black Americans received substantially less aid from the public assistance programs than White Americans. Many were denied service from soup kitchens and charitable organizations.

Women: While husbands were off working longer hours, women had larger burdens to bear with increased home responsibility. It was the national belief that men should be given all the jobs rather then women, and no union was readily accepting working women at a time of such widespread unemployment. 

Hispanic Americans: The two million Latinos who lived in the Southwest in the agricultural or manufacturing industry faced widespread discrimination due to fueled tensions with Hispanics at the time. Latinos were viewed as migrants who "stole" jobs from Americans. It was no wonder the Latino community mostly worked low wage jobs. Welfare programs at the time denied Latinos benefits and jobs, claiming they were not citizens-- despite the majority being natural-born citizens. Eventually, half a million Latinos were deported, most of whom were American citizens.]]> 2018-04-04 13:50:07 UTC https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491257 tatianamartin08 https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491422 Fine arts were used to divert attention away from the economic ruin experienced by the nation and towards aesthetic expression. Hence, art gained respect and became more popular among Americans. 

Literature was a common medium used to express political opinion and rethink how the social experience of the Great Depression should be conveyed.]]> 2018-04-04 13:50:29 UTC https://padlet.com/tatianamartin08/mfwvm3ujz0ba/wish/248491422