By Peter Clements (Wr
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Extra info for Access to History for the IB Diploma. The Great Depression and the Americas 1929-39
These often asked the state for help, as they thought of big business and the banks as being in league against them. Role of the government Many farmers blamed the government for their plight. During the war, it had urged them to produce more but now it did little to compensate them for their losses. Many farmers were particularly angered by the fact that tariffs protected industry but not agriculture. Government policy was to encourage farms to co-operate to market their produce. To this end the Agricultural Credits Act of 1923 funded 12 Intermediate Credit Banks to offer loans to co-operatives.
How devastating were the economic and social effects of the Great Depression? � Why was the Depression so extensive and long lasting? � How successfully did President Hoover’s administration tackle the Great Depression? � Why was the 1932 presidential election so significant? 1 The impact of the Great Depression on the presidency of Herbert Hoover Key question: What impact did the Great Depression have on the reputation of Herbert Hoover? In the 1928 presidential election campaign, it is doubtful whether anyone could have beaten the Republican Herbert Hoover.
However, after the war, falling demand led to falling prices. 50 to $1 per bushel. There were several reasons for this: l l l Wage labourers People who worked for wages. Tenant farmers People who rented the land they farmed. Share-croppers Farmers who rented land and were paid by the landowners a percentage of what they produced. 28 l l Prohibition cut the demand for grain previously used in the manufacture of alcohol. In addition, higher living standards meant Americans ate more meat and comparatively fewer cereals.
Access to History for the IB Diploma. The Great Depression and the Americas 1929-39 by Peter Clements (Wr