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Learn about the impact of the Great Depression in North Carolina, from the stock market crash to the New Deal programs and the state's involvement in World War II. Explore economic struggles, government initiatives, and wartime activities in NC.
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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 onOctober 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 programencouraged farmers to: • Grow gardens • Can food, and • Raise the necessities that they usually bought at the store
The New Deal • UnderPresident Franklin Roosevelt, Congress passed laws known as theNew 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 jobsby 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 wererationed, because they were in short supply • Some goods that were rationed are: • Meat • Butter • Canned goods • Gas • Shoes • Tires • Coffee, and • Sugar