Great depression


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Great depression

  2. 2. CICERO © 2008 CAUSES OF THE GREAT DEPRESSION <ul><li>The Stock Market Crash of 1929 </li></ul><ul><li>The Dust Bowl </li></ul><ul><li>The Smoot-Hawley Tariff Act </li></ul><ul><li>United States Federal Reserve and Money Supply </li></ul>United States President Herbert Hoover Tenants were replaced from the land during the Depression
  3. 3. CICERO © 2008 THE STOCK MARKET CRASH October 24 th , 1929 – “Black Thursday” - October 29 th , 1929 ---“Black Tuesday” In total, $30 million was lost during the five-day period. The trading room of the New York Stock Exchange after the crash of 1929
  4. 4. CICERO © 2008 THE DUST BOWL The Dust Bowl It consisted of dust storms that would cause much damage to the American lands - farmers Causes: Severe droughts Unwise farming practices High Winds Some dark dust clouds reached as far away as Washington, D.C., and New York City. The states most affected by the Dust Bowl were Kansas, New Mexico, Oklahoma, Texas, and Colorado. This picture depicts a farmer and two of his sons during one of the Dust Bowl storms in Oklahoma.
  5. 5. CICERO © 2008 SMOOT-HAWLEY TARIFF The Smoot-Hawley Tariff Act has been blamed by many as one of the reasons why the Great Depression was made worse in the United States The tariff reduced international trade and caused retaliatory tariffs to occur in other countries Affected farmers…overseas markets dried up…many farmers went bankrupt Representative W.C. Hawley (left) and Senator Reed Smoot shake hands on their Smoot-Hawley Tariff Act.
  6. 6. U.S. FEDERAL RESERVE & MONEY SUPPLY The Federal Reserve allowed the money supply in the United States to shrink by one-third from 1929 to 1933 Helps cause large banks such as the Bank of the United States to fail People began to panic Businessmen were not able to get new loans The Seal of the United States Federal Reserve System
  7. 7. CICERO © 2008 UNITED STATES BUSINESS Franklin Delano Roosevelt was elected United States president in 1932 He blamed the big businesses that were prevalent in the United States. Roosevelt, along with the majority of Democrats, felt that business had too much unregulated power. New Deal for America – Programs and policies established to combat the Depression United States President Franklin D. Roosevelt
  8. 8. CICERO © 2008 LIFE DURING THE DEPRESSION The Great Depression was physically and psychologically devastating to people. People were losing their homes, in addition to not having enough food and clothing to meet their needs. Starvation became a problem during this time. It was very common to see people digging through dumpsters for food. While starvation was fairly common, few people died from it. Many people began to blame themselves for not achieving success during the Depression. They felt success only went to those who deserved it. Men walking around in search of jobs during the Great Depression
  9. 9. CICERO © 2008 LIFE DURING THE DEPRESSION Children were greatly affected by the Great Depression. They now had to accept responsibilities at a younger age than normal. In a few instances, teenagers were able to find jobs before their parents could, and in a sense, became the “breadwinners” of the family. In these instances, the children would have to help comfort their parents who were suffering from the effects of the Great Depression. Minorities were hurt as well. Half of all black workers in 1932 were unemployed. Older children had to take care of younger siblings.
  10. 10. HOOVERVILLES Named after former United States President Herbert Hoover Hoovervilles were names given to small, rundown towns in the United States during the Great Depression. Hundreds of tiny shacks and tents populated the Hoovervilles, which were comprised of people who had lost most of their possessions., people who dwelled in the Hoovervilles would sleep anywhere. Even though the lands were on private property most of the time, the authorities would allow the people to stay there, mostly because they had nowhere else to go. Many different terms came out of the Hoovervilles, such as the “Hoover wagon,” which was a car with horses tied to it. A Hooverville near Portland, Oregon
  11. 11. FDR & THE NEW DEAL PROGRAMS Known as Alphabet Soup Agencies <ul><li>(CCC) Civilian Conservation Corps </li></ul><ul><li>(FERA) Federal Emergency Relief Administration </li></ul><ul><li>(CWA) Civil Works Administration </li></ul><ul><li>(TVA) Tennessee Valley Authority </li></ul><ul><li>(NRA) National Recovery Administration </li></ul><ul><li>(PWA) Public Works Administration </li></ul>
  12. 12. CICERO © 2008 THE SECOND NEW DEAL The Second New Deal, passed in 1935: Pro Labor Establishes… The Works Progress Administration (WPA) - created many blue-collar jobs for men in the United States. The National Youth Administration (NYA), provided the same benefits for children and young adults. The symbol of the Works Progress Administration (WPA)
  13. 13. CICERO © 2008 THE SOCIAL SECURITY ACT Congress passed the Social Security Act in 1935: Establishes… Retirement pensions Unemployment pensions Disability pensions President Roosevelt signs the Social Security Act into effect on August 14, 1935
  14. 14. CICERO © 2008 THE AFTERMATH OF THE GREAT DEPRESSION Thanks to an exorbitant amount of government military spending in the United States, due to World War II, the Gross National Product (GNP) doubled. It hid the effects of the Great Depression. However, the national debt in the United States continued to grow. This prompted the implementation of new taxes to pay down the debt. Wartime demand caused people to work extra hours in order to earn more money. Costs for wartime supplies were also reduced due to increased volume, ensuring that the businesses made higher profits. Businesses also hired as many people as possible, causing U.S. unemployment to fall below 2 percent. Roosevelt’s reforms helped allow him to be elected for four terms as president.