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Hoover

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The Great Depression & The New Deal (1929-1940) Chapter 26, Section 1 Hoover & The Crash – PowerPoint PPT presentation

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Title: Hoover


1
Hoover The Crash
  • The Great Depression
  • The New Deal (1929-1940)
  • Chapter 26, Section 1

2
Essential Question
  • Should the Government Intervene in the Lives of
    its Citizenry? Explain.

3
Herbert Hoover
  • Secretary of Commerce Under Calvin Coolidge
  • Won the 1928 Presidential Election
  • Republican Believed in Laissez Faire!
  • 3 Republicans in a Row During 1920s Harding,
    Coolidge Hoover
  • Considered One of the WORST Presidents! (Great
    Depression)

4
The Big Jinx!
  • In One of Herbert Hoovers Campaign Speeches, He
    Said
  • We shall soon be in sight of the day when
    poverty will be banished from this nation
  • JINX!
  • Why Did Herbert Hoover Believe This?

5
4 Industries in Trouble During the Roaring
Twenties
  • Agriculture (Farming)
  • Overproduction of Crops with New Equipment
    Lower Prices/Profits
  • Railroads
  • People Buying Cars
  • Textile Mills
  • Mass Production of Textiles Lower Prices
  • Mines
  • Other Forms of Energy

6
The Growing Poor
  • By 1929, 71 of Americans Only Made 2500 Per
    Year (Below the Poverty Level)
  • Unemployment Rate Was Growing
  • African Americans Struggled to Get Jobs! (Racism)

7
1st Cause of Great Depression Overproduction
  • Businesses Made More Goods! (Better Tech!)
  • Even Though Prices of Goods Went Down, So Did
    Peoples Salaries!
  • People Stopped Buying Goods! (Businesses Could
    Not Pay for Materials, Salaries, Equipment, Etc)
  • Businesses Had to Cut Costs () to Survive
    (Fire Workers!)

8
Overproduction!
9
2nd Cause of Great Depression Buying on Credit
  • Installment Buying
  • During the 1920s Most Americans Bought on Credit
  • When Americans Salaries Dropped, They Paid Off
    Their Debts Instead of Buying New Goods!
  • Businesses Sold Less/ More Overproduction
  • Is This Happening Today?

10
3rd Cause of Great Depression Speculation
  • During the 1920s Stock Prices Kept Going Up!
  • Speculation is the Buying Selling of Stocks in
    Hope of Making a Quick Profit!
  • Most Americans Bought Stock in Companies Sold
    It to Make
  • Is This Happening Today?

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12
Wall Street NYC
13
4th Cause of Great Depression Buying on Margin
  • Investors Took Out Loans From Banks to Buy Stocks
  • If Stock Goes Up, Sell the Stock, Pay Back the
    Loan to the Bank, Make a Profit! (Awesome!)
  • If Stock Goes Down Uh-Oh!

14
1928 Presidential Election
  • Herbert Hoover Won the 1928 Presidential Election
    by a Landslide
  • Predicted More Prosperity for America
  • (The Big Jinx!)
  • Republican Laissez Faire (Hands Off)

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Black Tuesday
  • October 29th, 1929
  • As The Stock Market Kept Going Lower Lower,
    Americans Panicked Tried to Sell All of Their
    Stocks!
  • Nobody Wanted To Buy! Everyone Was Afraid as
    Prices Kept Dropping!
  • The Stock Market Crashed!
  • Is This Happening Today?

18
Outside the NYSE
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Failure of the Banks!
  • When the Stock Market Crashed, Banks Demanded
    Customers to Pay Back Their Loans!
  • People Who Bought on Margin Could Not Pay Back
    Their Loans! Banks Ran Out of Money!
  • Citizens Ran to the Bank To Pull Out Their
    Savings! Banks Had No To Give!
  • 9,000 Banks Went Out of Business!

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Business Failures 1929
  • When The Market Crashed, People Stopped Buying
    Goods!
  • Thousands of Businesses Went Bankrupt!
  • To Save , Businesses Fired Workers!
  • No Work, No Paycheck! No Paycheck, Cant Buy
    Goods! Businesses Fire More Workers, More People
    Have No Paycheck.. Bad Cycle!

26
Unemployment Hunger
  • 25 Unemployment in 1933 (1 out of Every 4
    Americans)
  • Americans Bought Less Products Businesses Fired
    More Workers!
  • Poverty, Homelessness Hunger!
  • Everyone Affected!

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33
Global/World Wide Depression
  • The Great Depression Lasted From 1929-1941 (When
    the U.S. Entered WWII)
  • Many Countries Around the World Took Loans From
    U.S. Banks to Help Rebuild After WWI
  • When American Banks Crashed, So Did the Worlds
    Economy!

34
Herbert Hoover Laissez Faire Response!
  • Herbert Hoover was a Republican Believed
    Government Intervention Should NOT Take Place!
  • He Cut Government Spending on Projects Raised
    Taxes
  • Plan Made Sense But TOTALLY BACKFIRED!
  • Why Did Hoovers Plan Make Things Worse?

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Rugged Individualism
  • Herbert Hoover Did NOT Want to Give Federal
    Relief ( Food) to the Poor
  • Feared Citizens Would Then Rely on the Government
    (Dependent)
  • Hoover Believed in the Rugged Individual
  • Americans Had to Be Tough Through Hard Times!
    Suck It Up!
  • Why Do YOU Think Americans Think of Hoover as One
    of the Worst Presidents Ever?

37
Private Charities
  • Herbert Hoover Asked Private Charities to Help!
  • Salvation Army, The American Red Cross
    Religious Groups Did As Best As They Could!
  • The Demand for Food, , Shelter Jobs Was too
    High!

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40
Hoover Flags
  • Americans Blamed Herbert Hoover For Their
    Suffering!
  • Hoover Flags Hoovervilles Were Used to Blame
    Herbert Hoover for the Depression
  • Hoover Finally Changed His Laissez Faire Beliefs!
    (Too Little, Too Late!)

41
Hoovervilles
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47
Public Works Projects
  • Government Funded (Paid For) Projects
  • Projects to Improve Infrastructure Roads, Dams,
    Airports, Bridges, Tunnels
  • Projects Would Give People Jobs!
  • Reverse the Cycle!
  • Jobs Paychecks Spending Investment Capital
    Businesses Hire More Workers More Paychecks
    Etc

48
The Hoover Damn (AZ NV)
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Public Works Projects Today!
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55
The Bonus Army
  • 12,000-15,000 WWI Veterans Marched on Washington
    D.C., Summer of 1932
  • Wanted Their Bonuses Early Because They Were
    Broke! Needed the !
  • They Refused to Leave Until They Got Their
    Bonuses!
  • Set Up Camp in D.C.!

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Hoover Senate Say NO!
  • Herbert Hoover the Senate Vote Down a Bill to
    Give WWI Bonuses Early
  • Most Veterans Went Home. Some Stayed
    Protested!
  • General Douglass MacArthur the Present Army
    Kicked Them Out of D.C.
  • Fighting Broke Out!
  • Present U.S. Army Used Tear Gas Force!

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Hoover Looks Really Bad!
  • Americans Were Very Upset for the Harsh Treatment
    of the Bonus Army!
  • Hoover Looked Really Bad! America Would Look For
    Change!
  • FDR Democrat Will Win the 1932 Election!

69
Essential Question
  • Should the Government Intervene in the Lives of
    its Citizenry? Explain.
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