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The Great Depression

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Public was outraged Damaged his image Hoover Struggles with the Depression Review How did Hoover s treatment of the Bonus Army affect his standing with the public? – PowerPoint PPT presentation

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Title: The Great Depression


1
The Great Depression
  • What would you do to feed your family?

2
Day of Wrath
3
Examine the Issues
  • What groups of people will be most hurt by the
    economic crash?
  • What can you do to find a paying job?
  • What can unemployed and impoverished people do to
    help each other?

4
The Nations Sick Economy
  • Main Idea
  • As the prosperity of the 1920s ended, severe
    economic problems gripped the nation.
  • Why it Matters Today
  • The Great Depression has had lasting effects on
    how Americans view themselves and their government

5
Economic Troubles on the Horizon
  • As the 1920s advanced, serious problems
    threatened economic prosperity.
  • Farmers grew more crops and raised more livestock
    than they could sell.

½ of Americans earned less than the minimum
needed to live
McNary-Haugen Bill- take surplus off market and
store it
People had too much debt, no money to buy goods
6
Election of 1928
  • Republicans nominate Herbert Hoover
  • We in America are nearer to the final triumph
    over poverty than ever before.
  • Democrats nominate Alfred E. Smith
  • 1st Roman Catholic to run for President
  • Happy Warrior
  • Hoover wins the election

7
Dream of Riches in the Stock Market
  • Those who had money invested in the stock market.
  • Dow Jones Industrial Average-
  • Dow- was measured based on the stock prices of
    the 30 major firms on the NYSE.
  • 1920s- Dow rose to 381 pts/ 300 pts higher than
    it had been.
  • Bull Market- a period of rising stock.
  • By 1929- 4 mill,3 of Americans owned stock
  • Speculation- bought stock for a chance of a quick
    profit.
  • Buying on Margin- paid a small and borrowed the
    rest.
  • People couldnt pay off the loans.

"The bull and bear, symbolic beasts of finance
and market trend."
8
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9
The Stock Market Crashes
  • In September 1929, stock prices peaked and prices
    fell.
  • Black Tuesday
  • October 29, 1929- stock market crashed.

10
Financial Collapse
  • The stock market crash signaled the beginning of
    the Great Depression- the period between
    1929-1940 in which the economy plummeted and
    unemployment skyrocketed.
  • Bank Business Failures
  • 1929, 600 banks closed
  • 1933, 11,000 of the 25,000 banks failed
  • 90,000 businesses went bankrupt
  • Worldwide Shock Waves
  • Europe suffered from war debts
  • Hawley-Smoot Tariff Act- protective tariff.

11
Causes of the Great Depression
  • Tariffs and war debt policies that cut down the
    foreign market for American goods
  • A crisis in the farm sector
  • The availability of easy credit
  • An unequal distribution of income

12
The Nations Sick Economy Review
  • How did what happened to farmers during the
    1920s fore-shadow events of the Great
    Depression?
  • During the 1920s, farmers faced decreased demand
    for their products and lower crop prices. Those
    who were in debt could not repay loans, and rural
    banks failed. This pattern repeated itself in
    other sectors of the economy during the
    Depression.
  • What were some of the effects of the stock market
    crash in October 1929?
  • The stock market crash triggered bank and
    business failures, high unemployment, and
    worldwide depression.

13
Hardship Suffering During the Depression
  • Main Idea
  • During the Great Depression Americans did what
    they had to do to survive.
  • Why it Matters Today
  • Since the Great Depression many Americans have
    been more cautious abut saving, investing, and
    borrowing.

14
Hardship and Suffering During the Great Depression
Both loss jobs, homes
15
The Depression Devastates Peoples Lives
  • The Depression brought hardship, homelessness,
    and hunger to millions.

16
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17
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18
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19
Effects on the American Family
  • In the face of the suffering caused by the Great
    Depression, the family stood as a source of
    strength for most Americans.
  • At a time when money was tight, many families
    stayed at home and played board games, such as
    Monopoly(1913) listen to the radio.
  • Men in the streets
  • Many men had difficulty coping with unemployment
  • As many as 300,000 transits or hoboes wandered
    the country
  • Direct Relief- cash payments or food provided by
    the government to the poor.

20
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21
Family Hardships
  • Children Suffer hardships
  • Poor diets and a lack of money for health care
    led to serious health problems.
  • Falling tax revenues also caused school boards to
    shorten the school year and even close schools.
  • 1933-2,600 schools shut down
  • Teenagers hopped on freight trains in search for
    work.
  • Wild boys

22
Family Hardships-Cont
  • Social and Psychological Effects
  • Many people lost their will to survive
  • Between 1928-1932- suicide rate rose more than
    30
  • People made sacrifices
  • During the Great Depression many people showed
    great kindness to strangers who were down on
    their luck

23
Hardship Suffering During the Depression Review
  • How were shanytowns, soup kitchens, and bread
    lines a response to the Depressions?
  • They were places where charitable organizations
    handed out food to the hungry.
  • What pressures did the American family experience
    during the Depression?
  • Unemployment, reduced household income, some
    families lost homes. Many adults lost the
    ability to provide for their families.

24
Hoover Struggles with the Depression
  • Main Idea
  • President Hoovers conservative response to the
    Great Depression drew criticism from many
    Americans.
  • Why it Matters Today
  • Worsening conditions in the country caused the
    government to become more involved in the health
    and wealth of the people.

25
Philosophy
  • Hoovers Philosophy
  • Gov. should facilitate and encourage cooperation
  • People should take care of themselves

26
Hoovers Responses and Reactions
  • Initial Reaction
  • After the stock market crash of October 1929,
    President Herbert Hoover tried to reassure
    Americans that the nations economy was on a
    sound footing.
  • No layoffs or dont cut wages
  • Hoovervilles Hoover Flags
  • Economic Situation in the 1930s
  • Continue to worsen
  • Unemployment continued to rise
  • Companies went out of business
  • Voters Response
  • Democrats win control of House of Representatives
  • Hoovers Economic Solution
  • Construction of a dam on the Colorado River
  • CA,NM, CO,UT,WY,NV/ 1929 700 million (Hoover
    Dam)
  • Federal Farm Board- tried to help raise crop
    prices
  • Federal Home Loan Bank Act- Lower Mortgages and
    refinance homes
  • Reconstruction Finance Corps- 805 billion to
    banks
  • Economy Reponse
  • Continued to worsen

27
Hoovers Reaction and Responses (Continued)
  • Bonus Army
  • In 1932, 10,000 to 20,000 WWI veterans and their
    families arrived in Washington, D.C., from
    various parts of the country.
  • Demanding compensation for service in WWI
  • The Patman Bill Denied
  • The bill was to pay a bonus to WWI veterans who
    had not be compensated for their wartime service.
  • Hoovers Response
  • Opposed immediate payment and ordered an infantry
    to shut down their shanytowns on the capitol.
  • Eventually led to 1,000 people being gassed and 1
    baby death
  • Hoovers political situation?
  • Public was outraged
  • Damaged his image

28
Hoover Struggles with the Depression Review
  • How did Hoovers treatment of the Bonus Army
    affect his standing with the public?
  • The harshness of the attack on the veterans and
    their families damaged Hoovers reputation.
  • In what ways did Hoover try to use the government
    to relieve the Depression?
  • He started public-works programs and backed the
    Federal Farm Board, Federal Home Loan Bank Act,
    and the RFC.

29
Test Today! Great Depression
  • Place the following notes in order
  • The Nations Sick Economy
  • Hardship and Suffering During the Depression
  • The Great Depression Takes Its Toll
  • Hoover Struggles with the Depression
  • After the Test, pick up the Vocabulary for Ch.18
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