How did economic changes affect everyday life in the 1930's?
banks closed, people lost their saving and jobs, bread and soup lines were set up to feed the hungry, people lost their homes and farms
The Cash and Carry Policy was all of the items purchased had to be paid with cash and then shipped from the United States on the buyers on personal ships. President Roosevelt got around the cash and carry requirement when Britain couldn't meet the terms anymore by creating the "Land-Lease Act." This allowed the United States to lend or lease arms to any country that was considered a vital asset to the defense of the United States.
How did the social status of merchants reflect ideas about society
B)They had low status because their wealth came from the work of other people
1. The need for gold and silver made it lucrative to carry out trade with other countries
2. Mercantilism - The economic policy that emphasized the need of every nation to build as much wealth as it can in order to gain power
3. Insurance companies became more formalized as risk mitigation started gaining priority. Laws were changed to deal with insurance issues
4. free trade policies. Governments became involved themselves in trade by grant royal trade monopolies.
