THE GREAT DEPRESSION 1929 1940
THE GREAT DEPRESSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Teach people how to be investors and not speculators
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Tax items leaving the United States
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Tax farmers for over productions of cotton
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Protect U.S. farmers and manufacturers from foreign competition
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Detailed explanation-1: -The Smoot-Hawley Act was created to protect U.S. farmers and other industries from foreign competitors. The Smoot-Hawley Act increased tariffs on foreign imports to the U.S. by about 20%. At least 25 countries responded by increasing their own tariffs on American goods.
Detailed explanation-2: -Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20, 000 imported goods. An Act To provide revenue, to regulate commerce with foreign countries, to encourage the industries of the United States, to protect American labor, and for other purposes.
Detailed explanation-3: -It raised the price of imports to the point that they became unaffordable for all but the wealthy, and it dramatically decreased the amount of exported goods, thus contributing to bank failures, particularly in agricultural regions.
Detailed explanation-4: -In June 1930, the Smoot-Hawley Tariff Act increased U.S. tariffs on agricultural imports and more than 20, 000 imported goods. The tariffs imposed were the second-highest in American history. The goal was to protect American farmers who were most affected by the Great Depression.