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THE GREAT DEPRESSION,

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GREAT DEPRESSION The Great Depression was a worldwide economic downturn starting in most places in 1929 and ending at different times in the 1930s or early 1940s ... – PowerPoint PPT presentation

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Title: THE GREAT DEPRESSION,


1
THE GREAT DEPRESSION,
  • SSUSH17 The student will analyze the causes and
    consequences of the Great Depression.
  • a. Describe the causes, including overproduction,
    underconsumption, and stock market speculation
    that led to the stock market crash of 1929 and
    the Great Depression.
  • b. Explain the impact of the drought in the
    creation of the Dust Bowl.
  • c. Explain the social and political impact of
    widespread unemployment that resulted in
    developments such as Hoovervilles.

2
GREAT DEPRESSION
  • The Great Depression was a worldwide economic
    downturn starting in most places in 1929 and
    ending at different times in the 1930s or early
    1940s for different countries.
  • The Great Depression originated in the United
    States.
  • Starting date, the stock market crash, on October
    29, 1929, known as Black Tuesday.
  • The end of the depression in the U.S.A. is
    associated with the onset of the war economy of
    World War II, beginning around 1939, 1940

3
CAUSES OF THE GREAT DEPRESSION IN THE USA
  • 1. Unequal distribution of wealth
  • 2. High Tariffs and war debts
  • 3. Superficial (fake) prosperity
  • 4. Stock market crash and financial panic

4
1. UNEQUAL DISTRIBUTION OF WEALTH
  • 1.RICH RICHER, POOR, POORER
  • 2.NOT ALL PEOPLE ENJOYED THE PROSPERITY OF THE
    1920S.
  • 3.NOT ENOUGH MONEY TO BUY THE FLOOD OF GOODS
    PRODUCED

5
2. HIGH TARIFFS AND WAR DEBTS
  • 1.REDUCED FLOW OF GOODS INTO USA
  • 2.DECREASE IN TRADE
  • 3.ECONOMIC RETALIATION ABROAD
  • 4.NON-PAYMENT OF WAR DEBTS

6
3. SUPERFICIAL (FAKE) PROSPERITY
  • 1.OVERPRODUCTION IN INDUSTRY AND AGRICULTURE
  • 2.DECLINE IN DEMAND FOR GOODS
  • 3.DROUGHT CONDITIONS

7
4. STOCK MARKET CRASH AND FINANCIAL PANIC
  • 1.FINANCIAL CRISIS
  • 2.CONSUMER CREDIT AND DEBT
  • 3.LESS SPENDING
  • 4.BANK FAILURES
  • 5.BUYING STOCKS ON MARGIN (BUYING OF STOCK AS
    DOWN PAYMENT, THE REST ON CREDIT)

8
THE GREAT DEPRESSION
  • International trade was deeply affected, as were
    personal incomes, tax revenues, prices, and
    profits. Cities all around the world were hit
    hard, especially those dependent on heavy
    industry. Construction was virtually halted in
    many countries. Farming and rural areas suffered
    as crop prices fell by 40 to 60 percent. Facing
    plummeting demand with few alternate sources of
    jobs, areas dependent on primary sector
    industries such as farming, mining and logging,
    suffered the most .

9
GREAT DEPRESSION
  • The Great Depression ended at different times in
    different countries. The majority of countries
    set up relief programs, and most underwent some
    sort of political upheaval (change), pushing them
    to the left or right. In some states, the
    desperate citizens turned toward nationalist
    demagogues - the most infamous being Adolf Hitler
    - setting the stage for World War II in 1939.

10
IMPACT OF THE GREAT DEPRESSION
  • 1.HARDSHIP, SUFFERING ON FAMILY, MEN, WOMEN,
    CHILDREN
  • 2.SHANTYTOWNS, SOUP KITCHENS, BREAD LINES
  • 3.BEGINNING OF DUST BOWL, 1933-36
  • a.CAUSED BY SEVERE DROUGHTS
  • b.FARMERS PLOWED AND EXHAUSTED LAND.
  • c.WIND REMOVED TOPSOIL, ESPECIALLY IN OK, KA, TX,
    NM, CO
  • d.MANY MIGRATE TO PACIFIC COAST STATES
  • 4.PSYCHOLOGICAL IMPACT-SUICIDES

11
IMPACT
  • 5.WIDESPREAD UNEMPLOYMENT
  • a.MEN IN THE STREETS, HOMELESSNESS
  • b.TRANSIENT (MOVING) POPULATION
  • c.NO DIRECT RELIEF (FOOD OR CASH PAYMENTS) FROM
    GOVERNMENT
  • 6.HOOVERVILLES

12
IMPACT
  • HOOVERVILLES, popular name for a shanty town
    built by homeless men in the depression years.
    The term was coined by Charles Michelson,
    publicity chief of the Democratic National
    Committee.

13
HOOVERVILLES
  • These settlements were often formed on empty land
    and consisted of jerry-built shacks and tents.
    Authorities did not officially recognize these
    Hoovervilles and occasionally removed the
    occupants for technically trespassing on private
    lands, but they were frequently tolerated out of
    necessity.

14
HOOVERVILLES
  • Most people to building their residences out of
    box wood, cardboard, and any scraps of metal they
    could find. Some individuals even lived in sewer
    mains.
  • Most unemployed residents of the Hoovervilles
    begged for food from those who had housing during
    this era. Democrats coined other terms, such as
    "Hoover blanket, old newspaper used as
    blanketing.

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17
HERBERT HOOVER
  • Herbert Clark Hoover ,1874 1964, was the
    thirty-first President of the United
    States,19291933.

18
HERBER HOOVER
  • By 1932, the Great Depression had spread across
    the globe. In the U.S., unemployment had reached
    24.9, a drought persisted in the agricultural
    heartland, businesses and families defaulted on
    record numbers of loans, and more than 5,000
    banks had failed. Tens-of-thousands of Americans
    found themselves homeless and they began
    congregating in the numerous Hoovervilles (also
    known as shanty towns or tent cities) that had
    begun to appear across the country. The name
    'Hooverville' was coined by their residents as a
    sign of their disappointment and frustration with
    the perceived lack of assistance from the federal
    government.

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RESULTS OF THE GREAT DEPRESSION
  • 1.UNEMPLOYMENT
  • 2.RISE OF SHANTYTOWNS
  • 3.BANKS FAIL AND SCHOOLS CLOSE.
  • 4.WORLD ECONOMIC DOWNTURN
  • 5.MORE GOVERNMENT INVOLVEMENT
  • 6.PRESIDENCY OF FRANKLIN ROOSEVELT, A DEMOCRAT,
    AND THE NEW DEAL, 1932

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