How did the stock market crash affect the nation and Georgia?
The stock market crash caused the stock prices to fall dramatically, and too many tried to sell them when no one was buying. Not just in Georgia, but in all of America, people had taken more money than they could pay back, which was one cause of the crash. Soon, there was about 1/4 of all Americans out of work.
Did the Dust Bowl affect Georgia?
The insect was first swept into GA in 1915 in dust clouds from the west. By the early 1920s, it had destroyed over 60 % of Georgia’s cotton crops.
Why didn’t Georgia feel the initial impact of the Great Depression?
Why didn’t Georgia feel the initial impact of the Great Depression? Georgia had already experienced a depression of it’s own because of the Boll Weevil and the drought that followed. It was created by the National Industrial Recovery Act in June 1933 in response to the Great Depression.
Why did Georgia not immediately feel the impact of the stock market crashed in 1929?
Why did Georgia NOT immediately feel the impact of the stock market crash? It was already in a depression.
Were Georgia farmers affected by the Depression?
For the rest of Georgia’s farmers (69 percent of the population was rural in 1930), the depression was a catastrophe. First, the state experienced its worst drought on record in 1930-31. As the depression wore on, the defects and negative trends of cash-crop agriculture became magnified.
How was Georgia affected by the Great Depression?
Georgia’s agriculture and cotton-based economy was already ravaged by the boll weevil, a small insect which rendered cotton plants unable to produce cotton. The Depression forced many rural Georgians to leave Georgia altogether or at least move to larger cities like Atlanta looking for work and a better life.
What three key factors caused the Great Depression?
Causes of the Great Depression
- The stock market crash of 1929. During the 1920s the U.S. stock market underwent a historic expansion.
- Banking panics and monetary contraction.
- The gold standard.
- Decreased international lending and tariffs.
