Causes of the great depression
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Causes of the Great Depression. 8-6.3. I. Agriculture Decline. During WWI, SC made money from cotton and crops. When the war ends, the prices drop. The boll weevil destroyed much of the cotton. This actually helped one year because it lowered the supply.

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I agriculture decline
I. Agriculture Decline

  • During WWI, SC made money from cotton and crops.

    • When the war ends, the prices drop.

  • The boll weevil destroyed much of the cotton.

    • This actually helped one year because it lowered the supply.

  • Like rice, cotton was no longer a viable staple crop.

    • Lowcountry farmers began growing peaches or raising livestock.


Ii economic decline
II. Economic Decline

  • During WWI, farmers borrowed lots of money to buy land, equipment, & pesticides to kill boll weevils.

    • Lower prices made it impossible to repay those loans.

  • Banks began to foreclose on homes and farms.

    • Even after taking the property, banks were closing b/c they had no money even before the stock market crash.


Ii economic decline1
II. Economic Decline

  • Ex-farmers either became sharecroppers or emigrated out of SC.

    • White farmers tried to get jobs in the mills.

  • The textile industry also declined b/c:

    • War demand was over.

    • Synthetic fibers were replacing cotton.

    • International competition.

    • Lowering tariffs.


Ii economic decline2
II. Economic Decline

  • More mills actually opened here b/c the mills were closing in the North.

    • SC offered cheap, non-union labor.

    • Mill villages improved by adding electricity & water.

    • They tried to make more money by using “speed-up” and “stretch-out.”

      • Run the machines faster.

      • Use less people to do the same amount of work.


Ii economic decline3
II. Economic Decline

  • Wages stayed low.

  • Factories overproduced cloth as workers were laid off.

    • They now made less money so they could buy less stuff.


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