The booming economy led in 1929 to a backlog of business inventories which was three times larger than the year before. As a result a recession began in August 1929, two months before the stock market crash. During this two month period, production declined at an annual rate of
20 percent. This decline resulted in the stock market crash which began October 24, followed by Black Tuesday on October 29. Losses for the month amounted to $16 billion, an astronomical sum in those days.
1932 and 1933 were the worst years of the Great Depression. Industrial stocks lost 80 percent of their value since 1930. 10,000 banks failed , or 40 percent of the 1929 total. GNP fell 31 percent since 1929 and over 13 million Americans lost their jobs between 1929 and 1932. In 1933 unemployment did rise to 24.9 percent.
The desperation of many people and especially veterans from WW I resulted in spectacular events, the most dramatic the so-called Bonus marches in 1932.
The creation of the Federalist Party, that favored business, a strong government and a lax interpretation of the Constitution, and the Democratic-Republican Party, that wanted a society based on small farms and a weaker core government; changed the nature of politics in the US as they proposed a dichotomy when voting, since the Constitution had been silent about political parties.
Answer:
It was difficult for Congress to fulfill its duties under the Articles of Confederation because Congress lacked the power to regulate foreign trade, and most congressional decisions required the approval of at least nine states.
Explanation:
According to the Articles of Confederation, the member states had their own foreign policy and armed forces. Member states also had the right to resign from the Confederacy. Each member state had one vote in the Unicameral Congress. The Congress elected a committee consisting of one representative from each member state to conduct the foreign and security policy. It elected a president from among its members for a year at a time. Congress had little power because it had no taxing power and could not make decisions binding on member states. In nominal terms, Congress had the power to conduct foreign, military and monetary policy, but it could not compel a member state to allocate funds. With the exception of foreign policy, the decisions of the central government were only recommendations which were not binding on the states and for which the central government had no powers, prerogatives or military powers. All major decisions also required the unanimity of the states.
The correct answer is A) whites move out of the cities, taking their wealth with them.
In the 1950s, when World War II and the Great Depression were part of the past, American people were in a better economical situation that allowed them to afford a house and a car. Many white people starred moving out of the the big cities taking their wealth with them. The cities looked a bit abandoned until the settlement of the business offices.
