The Great Depression - PowerPoint PPT Presentation

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The Great Depression

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Causes of the Great Depression People over speculated on stock and the market crashed ... 1929 Black Tuesday What is the immediate effect of Black Tuesday? – PowerPoint PPT presentation

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Title: The Great Depression


1
The Great Depression
2
The Great Depression
  • In the 1930s the United States went into a severe
    economic state.

3
Causes of the Great Depression
  • People over speculated on stock and the market
    crashed people bought lots of stocks using
    borrowed money that they could not repay when the
    market crashed
  • The Federal Reserve System failed to prevent the
    collapse of the banking system
  • World-wide depression which lead to high tariffs
    (tax on goods coming from other countries).High
    tariffs discouraged international trade.
  • Surplus of goods (too many products available and
    not enough buyers)

4
1920s American Spending
  • Between 1925 and 1929, Americans borrowed money
    and purchased more stock.

5
Stock Market
6
October 29, 1929Black Tuesday
7
What is the immediate effect of Black Tuesday?
Banks close!
8
Banks Close
  • There was a run on banks because people tried to
    get their money out.
  • Banks closed because there was no money to give
    to people because money was uninsured and banks
    were not regulated well.

9
Value of Stocks
  • The stock market crash hurt many Americans
    because their stocks became worthless.

10
What is life like during the Great Depression?
  • High unemployment One quarter or 25 of people
    lose their jobs
  • A large number of people become homeless and
    hungry
  • A large number of banks and businesses failed
  • Farmers incomes fell to low levels

11
Businesses
  • Businesses failed during the Depression because
  • Banks asked for repayment of loans
  • Customers became unemployed and could not
    purchase consumer goods
  • Banks foreclosed on many businesses

12
Farmers
  • Even before the Great Depression farmers faced
    economic hard times.
  • Farmers would face the hardest economic times
    during the Depression.

13
Dust Bowl
  • The southern Great Plains suffered an
    environmental disaster and became known as the
    Dust Bowl
  • Causes were drought, overgrazing, and
    overplowing.
  • As a result, massive dust storms called black
    blizzards continued for years.
  • Thousands of Dust Bowl farmers went bankrupt and
    lost their farms. Many migrated to California.

14
President Herbert Hoover
15
Where could a person or family get aid during the
Great Depression?
soup kitchens bread lines Salvation Army
16
President Hoovers Response
  • President Hoover believed that the Great
    Depression was only temporary and that prosperity
    was just around the corner.
  • Hoovers refusal to provide funds for the
    unemployed during the Depression was based on the
    belief that private companies and volunteers
    should provide for the unemployed.
  • Shacks were called Hoovervilles to show Hoovers
    failure.

17
Where did people live during the Great
Depression?
Hoovervilles
18
President Franklin Delano Roosevelt
19
The New Deal
  • Alphabet Soup

20
AAA
Agriculture Adjustment Administration
  • paid farmers not to grow crops

21
Farmers
  • Roosevelt encouraged farmers to produce less and
    gave them money.
  • Dust Bowl Relief
  • New Deal reforms provided farmers with low-cost
    loans to help them keep their farms.

22
Social Security Act
  • Money given to people over 65 and the disabled

23
CCC
Civilian Conservation Corp
  • provided jobs to young men, planted trees, built
    bridges and parks, set up food control

24
TVA
Tennessee Valley Authority
  • built dams to provide cheap electricity in
    southern states

25
FDIC
Federal Deposit Insurance Corporation
  • insured the savings accounts in banks approved by
    the governmentyou will always be able to get
    your money out of the bank you put it in

26
FERA
Federal Emergency Relief Administration
  • gave relief to needy and unemployed

27
PWA
Public Works Administration
  • built ports, schools and aircraft carriers

28
Major Features
  • Farm assistance programs
  • Social Security
  • Federal work programs
  • Environmental improvement programs
  • Increased rights for labor

29
Depression Ends
  • True prosperity did not return to America until
    factories geared up production for World War II.
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