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THE DEPRESSION 1929-1940. STANDARD 11.6. Students analyze the different explanations for the Great Depression and how the New Deal fundamentally changed the role of the federal government. ECONOMIC ISSUES. PART I. THE POSTWAR ECONOMIC BOOM. - PowerPoint PPT Presentation
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Standard 11.6Created by L. Carreon
THE DEPRESSION1929-1940
Standard 11.6Created by L. Carreon
STANDARD 11.6
Students analyze the different explanations for the Great Depression and how the New Deal fundamentally changed the role of the federal government.
Standard 11.6Created by L. Carreon
ECONOMIC ISSUES
PART I
Standard 11.6Created by L. Carreon
THE POSTWAR ECONOMIC BOOM Prosperity of the 20’s- US had unlimited
growth, opportunity and achievement. Americans were earning more money. People could afford radios, cars, and
refrigerators. People had money to invest in the stock
market. 1929- unemployment and poverty increased.
Standard 11.6Created by L. Carreon
REPUBLICAN ECONOMIC POLICIES Calvin Coolidge(1923-29) believed in pro-business & trickle-
down economics. Herbert Hoover(1929-33) believed that the trickle down
economics would benefit the rich and the poor. In the trickle down economics, big business would make the
wealthy more rich and then profits would trickle down to the middle and lower classes.
Herbert HooverCalvin Coolidge
Standard 11.6Created by L. Carreon
REPUBLICAN ECONOMIC POLICIES Tax cuts would stimulate the economy
because the rich would reinvest into the economy.
Instead, the corporations, kept the money for themselves.
The rich didn’t share the money with the poor. The gap between the rich and poor
increased.
Standard 11.6Created by L. Carreon
REAL ESTATE AND STOCK SPECULATION People wanted to make quick money and
profit. 1925, investors went from California to
Florida to buy land. In Florida, people bought cheap and
unusable land and sold for profit. People were buying and selling stocks at a
profit.
Standard 11.6Created by L. Carreon
REAL ESTATE AND STOCK SPECULATION Some were borrowing money from banks to
buy stocks. Some inflated the stock and sold for a profit
but it really was not valuable. People speculated on the real value of the
stock. The value of the company wasn’t worth the
value of the stock.
Standard 11.6Created by L. Carreon
THE STOCK MARKET CRASH AND THE BANKING INDUSTRY COLLAPSE
The stock market crashed on Tuesday, October 29, 1929.
Also known as Black Tuesday. People lost their fortunes and life savings. About 16 billion dollars was lost.
Standard 11.6Created by L. Carreon
THE STOCK MARKET CRASH AND THE BANKING INDUSTRY COLLAPSE
Banks had over extended loans for stocks. The government didn’t regulate commerce or
the banks. Banks used stocks as collateral and the
stocks were worthless. Banks didn’t have any cash reserves and
went bankrupt & 6, 000 banks closed.
Standard 11.6Created by L. Carreon
AMERICAN CLIMATE IN THE 1930’s This depression was worldwide. 75,000 banks collapsed 12 million or 25% of workers were
unemployed
Standard 11.6Created by L. Carreon
CAUSES FOR THE DEPRESSION American Industry over expanded in its production
facilities Consumers were buying too much on credit. Farmers were not making very much money. New technology displaced many human workers Banks were loaning too much money and loans were
not being paid back. Too much speculation on stocks and real estate Europe was trying to recover from World War I.
Standard 11.6Created by L. Carreon
THE EFFECTS OF THE DEPRESSION
PART II
Standard 11.6Created by L. Carreon
THE CITIES
People lost their jobs and homes.
They lived on the streets People lived in shantytowns
which shacks made of metal. Soup Kitchens gave out food. Most people received food
from charities.
Standard 11.6Created by L. Carreon
MINORITIES
African-Americans fought for jobs. There was lots of racial violence because
people were fighting over jobs. Whites demanded that Latinos in the
southwest be deported. Many Mexicans went back to Mexico they
either volunteered or were deported.
Standard 11.6Created by L. Carreon
THE RURAL AREAS
Farmers could grow their food so their families weren’t starving.
The farmers couldn’t pay their mortgages.
Standard 11.6Created by L. Carreon
THE RURAL AREAS
400,000 farms were foreclosed.
Foreclosure is when the bank takes back the property.
Standard 11.6Created by L. Carreon
THE DEPRESSION FAMILY
The family was united and kept their traditional values.
Their strength kept them together.
Movies and radio kept people entertained.
Many men became hoboes who traveled on the trains looking for work.
Standard 11.6Created by L. Carreon
THE CHILDREN OF THE DEPRESSION
Family lacked money for health care for children.
Children died of malnourishment
Schools shortened the school year or closed the schools because of falling tax revenues.
“Wild Children” or “Hoover Tourists” traveled by train around the country.
Standard 11.6Created by L. Carreon
THE ROLE OF WOMEN
Women sewed and canned goods to support their families.
Women who worked were viewed with resentment because they took jobs from the men.
Standard 11.6Created by L. Carreon
THE DUST BOWL
The farmers over used the prairie land. In the 1930’s, there was adrought. There was dust everywhere.
Standard 11.6Created by L. Carreon
STATES AFFECTED BY THE DUST BOWL States hit hardest by
the Dust Bowl: Kansas Oklahoma Texas Colorado New Mexico
Standard 11.6Created by L. Carreon
DUST BOWL MIGRANTS
Thousands of farmers left their farms
They took Route 66 to California looking for jobs and better farms.
Some of the migrants were known has Okies (a negative term for someone who comes from Oklahoma.
Standard 11.6Created by L. Carreon
DUST BOWL TRAVELERS
Standard 11.6Created by L. Carreon
DORTHEA LANGE PHOTOS
Standard 11.6Created by L. Carreon
THE MORALE OF THE COUNTRY
People were demoralized by their poverty People committed suicide at an alarming rate. Many people were admitted to mental hospitals, After the depression, people constantly saved
their money Their goal was to have financial security.
Standard 11.6Created by L. Carreon
CULTURAL INFLUENCES
Famous Literature of the time James Hilton-Lost Horizon William Faulkner-The Sound and The Fury Richard Wright-Native Son Zora Neale Hurston-Their Eyes Were
Watching John Steinbeck -Grapes of Wrath Lillian Hellman- Little Foxes Thorton Wilder – Our Town
Standard 11.6Created by L. Carreon
CULTURAL INFLUENCES
Movies with gangster themes, musicals and survival themes helped people to forget their problems.
Mickey Mouse and Donald Duck were created by Walt Disney in the 1930’s.
Standard 11.6Created by L. Carreon
CULTURAL INFLUENCES
Marian Anderson wasn’t allowed to sing in Constitution Hall but later performed at the Lincoln Memorial.
Mahalia Jackson sang gospel songs that inspire the people.
Marian Anderson
Mahalia Jackson
Standard 11.6Created by L. Carreon
PRESIDENTS HERBERT HOOVER’S POLICIES
PART III
Standard 11.6Created by L. Carreon
THE ROLE OF GOVERNMENT
The role of government is help big business in finding a solution to the economic problems
The government should cooperate with businesses and not control them
“Rugged Individualism”-people should succeed on their own and the government shouldn’t intervene.
Standard 11.6Created by L. Carreon
HOOVER’S THOUGHTS ON THE ROLE OF GOVERNMENT The charities and local organizations should
take care of the poor and needy. The government should direct relief
measures, but not have a huge bureaucracy The bureaucracy was too expensive and hurt
liberties
Standard 11.6Created by L. Carreon
HOOVER’S POLICIES
Federal money would help businesses Federal Home Loan Bank Act- lowered
mortgage rates and farmers could refinance their loans. They wouldn’t lose their farms.
Standard 11.6Created by L. Carreon
HOOVER’S POLICIES
The Reconstruction Finance Corporation- Congress authorized 2 billion to help banks, life insurance companies, railroad companies and other companies.
The money would trickle down to the people. It didn’t reach the poor and the needy.
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