kaleyharper
the great depression and how it affected rural communities-old dallas courthouse
Photograph-"The Heritage of Paulding County Georgia, 1832-1999"
Many people who lived through the Great Depression say that it is the government’s fault that the stock market crashed and the Great Depression began. Aside from these feelings, they also expected the government to pull them out of this terrible depression and basically fix America’s economy. Before the Great Depression of the 1930s, the United State’s government came up with the Federal Reserve Board. The Federal Reserve Board was put in place to prevent depressions. The Fed set below market interest rates and low reserve requirements that all favored the big banks. The money supply actual increased by about 60% during this time. When the Federal Reserve Board realized that it could no longer sustain their current policy, they rapidly increased interest rates and the stock market crashed and the panic had set in for the banks. The Federal Reserve Bank issued a tariff that they hoped would fix the economic problem and help everything go back to normal. This only made things worse. Although most of the upper class people were untouched by this, the lower class was affected greatly. Everything had been taken away from them and now they were expected to pay another tax because of this tariff. Needless to say, there was little support of the government during this time by the smaller, lower class communities.
Brinkley, Alan. Culture and Politics in the Great Depression. Waco, Texas: Markham Press Fund, 1999.
For more information visit:
en.wikipedia.org/wiki/Great_Depression#Political_conseque...
the great depression and how it affected rural communities-old dallas courthouse
Photograph-"The Heritage of Paulding County Georgia, 1832-1999"
Many people who lived through the Great Depression say that it is the government’s fault that the stock market crashed and the Great Depression began. Aside from these feelings, they also expected the government to pull them out of this terrible depression and basically fix America’s economy. Before the Great Depression of the 1930s, the United State’s government came up with the Federal Reserve Board. The Federal Reserve Board was put in place to prevent depressions. The Fed set below market interest rates and low reserve requirements that all favored the big banks. The money supply actual increased by about 60% during this time. When the Federal Reserve Board realized that it could no longer sustain their current policy, they rapidly increased interest rates and the stock market crashed and the panic had set in for the banks. The Federal Reserve Bank issued a tariff that they hoped would fix the economic problem and help everything go back to normal. This only made things worse. Although most of the upper class people were untouched by this, the lower class was affected greatly. Everything had been taken away from them and now they were expected to pay another tax because of this tariff. Needless to say, there was little support of the government during this time by the smaller, lower class communities.
Brinkley, Alan. Culture and Politics in the Great Depression. Waco, Texas: Markham Press Fund, 1999.
For more information visit:
en.wikipedia.org/wiki/Great_Depression#Political_conseque...