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COS Standard 6b

COS Standard 6b. Describe social and economic conditions from the 1920s through the Great Depression regarding factors leading to a deepening crisis, including the collapse of the farming economy and the stock market crash of 1929. .

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COS Standard 6b

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  1. COS Standard 6b Describe social and economic conditions from the 1920s through the Great Depression regarding factors leading to a deepening crisis, including the collapse of the farming economy and the stock market crash of 1929.

  2. Describing the impact of the Smoot-Hawley Tariff Act on the global economy and the resulting worldwide depression and Describe social and economic conditions from the 1920s through the Great Depression regarding factors leading to a deepening crisis, including the collapse of the farming economy and the stock market crash of 1929. Chapter 22 Section 1 and Chapter 21 Section 2

  3. Hawley-Smoot Tariff Raises the average tariff rate: protective tariff Aimed to protect American manufacturers from foreign competition, but it hurt American sales abroad Imported goods were more expensive, so Americans bought fewer imported goods. Foreign countries respond by raising taxes on American goods, so fewer American goods are sold overseas.

  4. Hawley-Smoot Tariff It reversed the promised worldwide trend toward reasonable taxes and widened trade gaps. It plunged America and other foreign nations into a deeper terrible depression. Hurt America and other foreign countries because it isolated America from Europe Helps Germany when America becomes isolated.

  5. Farmers • American farmers do not share same prosperity as the other people during the Roaring 20s. • The farmers were able to produce more goods because of new technologies. • Fertilizers • Pesticides • Seed varieties • Farm machinery

  6. Farmers continued • Even though there were new advances, farmers could not get rid of their crops. • People did not demand as much as farmers produced. • Prices fall on crops: Oversupply • Why? • Farmers were encouraged to produce more food to supply the war. • Farmers borrow heavily to get supplies needed to produce more. • During the war, farmers prospered. • After the war, Europe would not afford to buy American crops.

  7. Farmers continued Congress tries to help the farmers, but unintentionally hurt them instead. So by 1929, the situation for farmers only grew worse.

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