USII.5f Impact of Great Depression

Tariffs caused many factory workers to lose their jobs

Tariffs raised the cost of goods and caused overproduction in factories

Tariffs made it easier for factories to create goods

Tariffs were not a problem during the Great Depression

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People started investing money in property rather than putting cash in savings

Banks gave out too many loans people could not repay and ran out of cash, especially during 'bank runs'

Large businesses offered checking and savings accounts, ending the need for banks

The government stopped printing cash so banks became useless

Loss of jobs

Increase in homelessness

Growth in luxury businesses

Widespread hunger

disproportionately

income

unemployment

poverty

Women

Children

African Americans

Farmers

People in cities stopped eating fresh vegetables and refused to buy farmers' crops

The number of farmers tripled in the 1920s so there was too much competition

Mechanization reduced production of crops, leading to less crops available for sale

The Dust Bowl made a lot of land unfarmable and many crops failed