GREAT DEPRESSION:

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GREAT DEPRESSION CAUSES ORDEAL OF HOOVER
1928-1932
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Roaring Twenties

• IV. Republican Governments
• D. Election of 1928
• 1. Candidates
• 2. Campaign
• 3. Results

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The Great Depression

• I. Coming of the Great Depression
• A. Great Crash (Oct. 1929)
• 1. Stock Boom
• May 1928 Sept. 1929
• Dow Jones Indust. Index reaches high (doubled in
  time period)
• People doubling money in less than a year
  (average increase of 40)
• 2. Stock Market Crash
• Oct. 24, 1929
• Unprecedented selling prices drop
• Bankers (Morgan) buy to stabilize
• Oct. 29, 1929 Black Tuesday
• Millions sell, no buyers stocks become worthless

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The Great Depression

• I. Coming of the Great Depression
• B. Long Term Causes
• 1. Stock Speculation (Buying on Margin) Credit
  Structure
• 2. Maldistribution of Wealth
• 3. Weak Farm Economy Overproduction
• 4. Lack of Diversification
• 5. Creditor Declining Exports
• 6. International Debt Structure
• 7. Corporate Thimblerigging

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The Great Depression

• II. Ordeal of Herbert Hoover
• A. Hoovers Philosophy
• 1. Volunteerism
• 2. Rugged Individualism
• B. Hoovers Efforts at Economic Recovery
• 1. Agricultural Marketing Act
• 2. Hawley-Smoot Tariff
• 3. Reconstruction Finance Corporation
• 4. Norris-LaGuardia Anti-Injunction Act

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The Great Depression

• II. Ordeal of Herbert Hoover
• C. Protests
• 1. Farmers Holiday Association
• 2. Bonus Army

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The Great Depression

• II. Ordeal of Herbert Hoover
• C. Election of 1932
• 1. Candidates/Campaign/Results

I pledge you, I pledge myself, to a new deal for
the American people.
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The Great Depression

• II. Ordeal of Herbert Hoover
• C. Election of 1932
• 2. Interregnum/Hoover Lame Duck