The Gilded Age to the Great Depression - PowerPoint PPT Presentation

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The Gilded Age to the Great Depression

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The Gilded Age to the Great Depression What happened to the American economy? What does it mean to be gilded? Gilded Age Economy Big Business. – PowerPoint PPT presentation

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Title: The Gilded Age to the Great Depression


1
The Gilded Age to the Great Depression
  • What happened to the American economy?

2
What does it mean to be gilded?
3
Gilded Age Economy
  • Big Business.
  • Vertical and horizontal integration.
  • Monopoly.
  • Laissez-faire.
  • Robber barons
  • Unions, strikes, and scabs.

4
Govt Involvement in the Economy during the
Gilded Age
  • Roosevelt
  • The Trust Buster?
  • Sherman Anti-Trust Act (1890).
  • Man of the people or federal regulator?
  • 1904 Northern Securities Company.
  • 1906 Meat Inspection Act, Pure Food and Drug
    Act.
  • Taft
  • Payne-Aldrich Tariff make good cheaper.
  • Wilson
  • Clayton Anti-Trust Act strengthen Sherman
    Anti-Trust Act.
  • 1914 Federal Trade Commission.
  • 1913 Federal Income Tax why?
  • Federal Reserve System.

5
The Economy during the Roaring Twenties
  • Harding
  • Fordney-McCumber Tariff 60 tax on imports.
  • Reflective of what international relations
    policy?
  • Dawes Act U.S. pays Germanys reparations.
  • Teapot Dome Scandal.
  • Increasing American Consumption
  • Car, planes, household goods.
  • Advertising.

6
Fake Prosperity
  • Gap between rich and poor as business expands.
  • Increased quantities of goods.
  • Iron, railroads, and farms suffer losses.
  • CREDIT!
  • Buy goods over an extended period.

7
The Beginning of the End
  • Key industries decline
  • Textiles, steel, railroads.
  • Diminished demand after the war.
  • Workers face job loss, cant consume goods.
  • American consumers in credit debt.
  • Uneven distribution of income
  • Wealthiest Americans income grows by 75, average
    growth 9.
  • 1929 5 of Americas richest families took a
    third of the nations income.

8
The Beginning of the End
  • Stock Market
  • 1929 4 million American owned stocks.
  • Speculation Buy risky stocks.
  • Buying on the margin Pay a of the stocks price
    and borrow the rest.
  • Black Tuesday
  • October 24 Market drops, investors panic.
  • October 29, 1929 the bottom falls out of the
    market.
  • 16 millions shares dumped.

9
The Beginning of the End
  • Causes of the Great Depression
  • Old and decaying industrial base.
  • Agricultural crisis.
  • Availability of easy credit.
  • Unequal distribution of income.

10
Hoover and the Great Depression
  • Countrys worst president?
  • Encourages Americans to have confidence in the
    market.
  • In Hoovers presidency
  • GNP Falls from 104 billion to 59 billion.
  • 6,000 banks fail.
  • 13 million workers unemployed (25).
  • 1930 Hawley-Smoot Tariff Act Higher than the
    Ford-McCumber Tariff.

11
Hoover and the Great Depression
  • Hoovervilles.
  • Dust Bowl
  • Grapes of Wrath and Okies
  • No federal relief!
  • Rugged individualism is the answer?
  • Dams are the answer?
  • 1932 Reconstruction Finance Corporation
  • Emergency relief to industry.
  • 1932 Bonus Army.
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