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North Carolina in Depression and War. Chapter 22. The Great Depression. Depression: a downturn in economic activity Sales of goods and prices fall Banks fail, and People lose their jobs. Causes of the Depression. Agriculture declined weakening the economy - PowerPoint PPT Presentation
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North Carolina in Depression and War
Chapter 22
The Great Depression
Depression: a downturn in economic activity Sales of goods and prices fall Banks fail, and People lose their jobs
Causes of the Depression
Agriculture declined weakening the economy Farmers were unable to repay bank loans Businesses had fewer sales
economist: studies the economy
“Black Thursday”
Occurred on October 24, 1929: the stock market crashed
NYSE: largest stock market
NC in the Depression
In North Carolina, agriculture was the hardest hit
Most profitable industries: Tobacco Electrical power Telephone Chemical Paper companies
Easing the Burden
To help the unemployed, Governor Gardner created the Live-at-Home program. This program encouraged farmers to: Grow gardens Can food, and Raise the necessities that they usually bought at
the store
Jane McKimmon: showed farm wives how to can food
The New Deal
Under President Franklin Roosevelt, Congress passed laws known as the New Deal, to bring about: Economic recovery Relieve the suffering of the unemployed Reform defects in the economy, and Improve society
Agricultural Adjustment Act (AAA): provided price supports for farm products
Wagner Act: guaranteed workers the right of collective bargaining
Relief
Public works projects were created to help the economy recover by helping the unemployed
Works Progress Administration (WPA): provided jobs by building schools, parks, roads, and airports
Civilian Conservation Corps (CCC): provided jobs for young men to preserve soil and purify water
Social Security Act: provided old-age benefits/insurance from taxes paid by workers and employees
Economic Reforms
Federal Deposit Insurance Corporation (FDIC): insured depositors’ accounts in banks
Social Improvement
Tennessee Valley Authority (TVA): built hydroelectric dams on the Tennessee River and its tributaries
Fontana dam/lake: the highest dam and longest lake in NC
The Second World War
International relations worsened as: Japan Italy Germany, and the Soviet Union
tried to expand their power and territory
Italian dictator, Benito Mussolini led Italy to take over countries in Africa and the Balkans
German dictator, Adolf Hitler seized much of Europe by 1940
The War Begins
World War II began on September 1, 1939, when Britain, France, Australia, New Zealand, Canada and South Africa declared war on Germany
Lend-lease aid: the lending or leasing of weapons to Britain, during WWII, when they ran out of cash
America Enters the War
On Dec. 8, 1941, after the bombing at Pearl Harbor on Dec. 7, the United States entered WWII
Dutch East Indies - Indonesia
NC in WWII
NC was the site for many training bases located at:
Fort Bragg (largest artillery post) Camp Lejeune Camp Mackall Camp Battle Cherry Point Marine Air Base, and many others
Cape Hatteras became known as “Torpedo Junction”, because so many ships were sunk by German submarines
Mica: used in electronic parts Shipyards in NC:
Wilmington New Bern Elizabeth City
Many goods were rationed, because they were in short supply
Some goods that were rationed are: Meat Butter Canned goods Gas Shoes Tires Coffee, and Sugar