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Causes of the Great Depression 1929 - 1941

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Causes of the Great Depression 1929 - 1941 What is a depression? Stock Market Crash not a cause! Stock Market Crash October 29, 1929 marks the beginning of the ... – PowerPoint PPT presentation

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Title: Causes of the Great Depression 1929 - 1941


1
Causes of the Great Depression 1929 - 1941
  • What is a depression?
  • Stock Market Crash not a cause!
  • Stock Market Crash October 29, 1929
  • marks the beginning of the Depression.

2
Conditions of the Great Depression
  • Longest, most severe economic crisis in the
    nations history.
  • The entire population is affected.
  • Ends with World War II production.

3
Conditions of the Great Depression
  • 1930-1933 9,000 banks close.
  • Depositors lose over 2.5 billion.
  • GNP declines by 25 .
  • Investment 3 of what it was in 1929.
  • Farm income cut by 2/3.
  • 25 unemployment

4
High Amount of Internal Debt
  • Easy Credit created more debt than many
    individuals could handle.
  • Lack of savings.
  • Complicated by unemployment.

5
High Unemployment
  • Nearly 1/3 of the population out of work.
  • 1932 80 of Toledo, Ohio
  • No spending going on to stimulate the economy.
  • Adds to the effects of other causes.

6
High Amounts of External Debt
  • Tariff
  • High tariffs hurt trade.
  • Made the banking crisis much worse.

7
Banking Crisis
  • Bank Failures
  • Year failures / total number of banks
  • 1920 168 / 30,909
  • 1929 659 / 25,568
  • 1931 2,294 / 22,242
  • 1933 4,004 / 14,771
  • Bank failures hurt everyone.

8
Unbalanced Economy
  • Some industries were strong some were very weak.
  • Farm income 223
  • Other incomes 870
  • False sense of security created by Stock Market.
  • Some industries carried the whole economy
    throughout 1920s. (car, construction)

9
Unregulated Market
  • Buying on the Margin.
  • Banks were not regulated.
  • Deposits were not insured.

10
Farm Crisis
  • World War I production levels created a surplus
    of agricultural products.
  • Mechanization added to the surplus.
  • Greatly weakened over all economy.
  • 26 of population in agriculture.
  • Adds to unemployment / banking crisis.

11
Dust Bowl
  • Natural disaster that added to the farm crisis.
  • Central plains hit by severe drought.
  • 100,000 lost their farms.
  • Many fled from the plains to California.

12
THE NEW DEAL
  • Domestic Policies of Franklin Delano Roosevelt.
  • Liberal Policy
  • Economic and Social Reform
  • Based on Economic Theories of John Maynard Keynes
  • Pump Priming

13
Franklin Delano Roosevelt
  • Elected to Four Terms
  • Liberal- Democrat from New York
  • Wealthy
  • Handicapped
  • The only thing to fear is fear itself.

14
THE NEW DEAL
  • TVA
  • FDIC
  • CCC
  • AAA
  • Social Security Act of 1935
  • Fair Labor Standards Act of 1938
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