1. Stock Market Crash of 1929. Many believe erroneously that the stock market crash that occurred on Black Tuesday, October 29, 1929, is one and the same with the Great Depression. In fact, it was one of the major causes that led to the Great Depression. Two months after the original crash in October, stockholders had lost more than $40 billion dollars. Even though the stock market began to regain some of its losses, by the end of 1930, it just was not enough and America truly entered what is called the Great Depression.
2. Bank Failures. Throughout the 1930s over 9,000 banks failed. Bank deposits were uninsured and thus as banks failed people simply lost their savings. Surviving banks, unsure of the economic situation and concerned for their own survival, stopped being as willing to create new loans. This exacerbated the situation leading to less and fewer expenditures in the US.
3. Reduction in Purchasing Across the Board. With the stock market crash and the fears of further economic woes, individuals from all classes stopped purchasing items. This then led to a reduction in the number of items produced and thus a reduction in the workforce. As people lost their jobs, they were unable to keep up with paying for items they had bought through installments plans and their items were repossessed.Making more and more inventory to begin accumulating. The unemployment rate increased above 25% which meant, of course, even less spending to help alleviate the economic situation.
4. American Economic Policy with Europe.
5. Drought Conditions.
Discussion 8
Parrish felt as if immigrants come to America for a better opportunity. America as he says, is dubbed the land of opportunity because it was discovered for a better opportunity but Parrish feltthat immigrants will take away all the opportunities from the American working class.
1. London argues that immigration restriction is based on “prejudice” rather than reason because he believes that the bill is to restrict immigration. It prevents an influx of radicals to enter America. Some felt that immigration contributes significantly to the terrorist threat in the United States, and immigration should be limited, and that these restrictions would instead cripple the US in terms of cultural diversity.
2. Meyer v. Nebraska, on the other hand, suggested that the ways the Supreme Court of Nebraska justified the English only law by promoting civic development by inhibiting training and education. They stated that the English language should and become the mother tongue of all children reared in the state.
3. The U.S. Supreme Court saw the law as an unreasonable infringement of liberty because infringes the guarantee to the plaintiff in error by the Fourteenth Amendment. "No State shall . . . deprive any person of life, liberty, or property, without due process of law."
4. Alain Locke, The NewNegro (1925), meant when he writes, “The day of aunties, uncles, and mammies are gone. Locke meant that the days of slavery are truly over for African Americans and that now they must make changes to better themselves. Even though they have some hardships ahead of them, the worst days are behind them. The “New Negro” he talks about is coming through in all the ways possible, and Locke wants them to realize that.
DISCUSSION 9
- FDR reclaimed the word freedom and defined it as "greater security for the average man" as opposed to the prior meaning reflecting "liberty of contract" which served the interests of the privileged few.
- FDR also consistently linked freedom with economic security, many New Deal initiatives were aimed at securing economic security for common American citizens.
DISCUSSION 10
a) Embracing economic security. On security matters, great depression began in 1940 – 1941, that became a public agenda, making millions of people to lose their lives saving, poverty increased due to economic rise. The government guaranteed a liberty in the new deal, the freedom of economic security, freedom of contract ideas, free trade and freedom of every man to help the needy.
b) The beneficiaries of the new deal. Eric Foner suggests that the new deal benefited everybody; employment, economic relief. Due to the Congress structure, and southern Democrats over control on stranglehold of key committees, many deals were shaped to exclude Americans because they didn’t want the programme to undercut white supremacists and cheap labor force. And most blacks are out of social security, out of fair labor standard act. This also didn't include non-whites.
