US History Chapter 22 Notes The Great Depression Begins：22章指出，美国历史上的大萧条开始.ppt

U.S. History Chapter 11 Notes The Great Depression Begins An economic crisis grips the nation during the Great Depression. President Herbert Hoover’s conservative response to the nation’s problems costs him many supporters. Section 1The Nation’s Sick Economy As the prosperity of the 1920s ends, severe economic problems grip the nation. Economic Troubles on the Horizon Problems began threatening economic prosperity by the end of the 1920s Farm debt - many farmers were forced to sell in the 1920s Consumer debt - many people were buying goods on credit More goods then buyers - prices rose faster than wages Declining Trade - 1920s U.S. raised tariffs other countries raised tariffs to retaliate Important industries struggled Income disparity - Consumers farmers went steadily deeper into debt Industries in Trouble Key industries like railroads, textiles, steel barely made profit Replaced by other forms of transportations Mining, lumbering expanded during were no longer in high demand Coal especially hard-hit due to availability of new energy sources - Hydroelectricity, fuel oil, natural gas Boom industries - automobiles, construction, consumer goods weakened Housing starts declined - Affected many related industries Farm Troubles International demand for U.S. grain declined after war - prices dropped by 40% or more Farmers boosted production to sell more - Caused prices to drop further Farm income declined farmers defaulted on loans Rural banks failed Congress attempted to pass the McNary- Haugen bill to help farmers - Price-supports - government bought surplus crops at guarantees prices - President Coolidge vetoed price-support bill Consumers Problems 1920s - rich got richer poor got poorer Prices rose faster that wages 70% of families earned less than minimum for decent standard of living - $2500 annually Most couldn’t afford flood of products factories produce Many people had been purchasing goods on credit (buy now, pay later) Busin