Story Board: The Great Depression Projects (Anaiah McKinney)
Storyboard Text
- Overproduction-Industry
- Overproduction-Farming
- Speculaltion
- Uunemployment
- Factories used the assembly line, as a result prices droped, and businesses failed.
- Buying on Margin
- Farmers who borrowed money couldn't pay their debts which caused them not to be able to pay their mortgages.
- Shaky Banking
- Stocks became worth a lot more than the actual value of the company.
- Restrictions on International Trade
- UGHHNO!!
- Buying on Margin allowed common people with little financial money to borrow money from their stockbroker and put down as little as 10% of the share value. This made companies get rid of their supplies. This meant that share prices suffered.
- People with money in savings would deposit money which resulted in bank failure.
- BANK
- The Smoot-Hawley Tariff Act increased the import and export tariffs causing trade to slowdown resulting in a prolonged decline in stock market and overall economy.
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