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Great depression ppt presentation Presentation Transcript

  • 1. T he GreatDepr ession
  • 2. Causes Buying on credit Government policies  Not regulating stock market or businesses Weak international economy  Other countries still recovering from WWI The Stock Market Crash
  • 3. Stock Market Crash Buying On Margin  Making down payments and borrowing the rest October 29, 1929 – Black Tuesday  Rapid selling of stocks  values drop $14 billion
  • 4. DEPRESSION SPREADS Millions of people lost their jobs. Banks recalled loans. People take money out of banks Banks can’t pay back money so they close People lose money in banks
  • 5. THE DUST BOWL Drought and dust storms in the Midwest forced many farmers to leave their land and migrate west in search of jobs.
  • 6. Impact Unemployment – 25% Rural Life  Farmers Suffer  Dust Bowl – severe drought  “Okies” – farmers who moved to California Less Leisure Activities  Movies, sports, etc.
  • 7. Hoover’s Response Policies to aid businesses  Business recovers jobs people recover Reconstruction Finance Corporation  Gave money to businesses Stopped payments of war debts
  • 8. “ Hoovervilles”
  • 9. The Bonus March 20,000 jobless WWI veterans go to Washington DC and demand bonus for war Hoover sends in army  Destroys popularity
  • 10. Franklin DelanoRoosevelt  President 1932 – 1945  The New Deal  Plan to end Great Depression  Relief  Recovery  Reform  End of Laissez-faire
  • 11. Relief 1933 Bank Holiday to stop collapse Federal Emergency Relief Act (FERA)  Relief to unemployed Public Works Administration (PWA)  Built ports, schools, aircraft carriers
  • 12. Relief  Civilian Conservation Corps (CCC)  Planted trees, built bridges, parks  Works Progress Administration (WPA)  Built hospitals, schools, parks, airports  Tennessee Valley Authority (TVA)  Built dams, cheap electric power
  • 13. Recovery National Industrial Recovery Act  NRA  Regulated wages, prices, working conditions Agricultural Adjustment Act (AAA)  Paid farmers not to grow certain crops
  • 14. Reform Federal Deposit Insurance Corporation  FDIC  Insured savings accounts Securities Exchange Act (SEC)  Regulated stock exchanges Social Security Act (SSA)  Pensions for elderly, unemployed, handicapped
  • 15. New Deal Effects  Labor  Roosevelt takes pro-labor approach  Unions increase  Native Americans  Indian Reorganization Act  Attempt to restore Native American culture
  • 16. New Deal Effects  African Americans  Little benefit  Latinos  Many suffered – worked in agriculture  Women  Little help in workplace
  • 17. Controversy Supreme Court finds many laws unconstitutional  National Recovery Act  Congress can’t regulate intrastate commerce  Agricultural Adjustment Act  Agriculture is a local matter not an interstate matter
  • 18. Court-Packing Plan  Supreme Court continued to veto legislation  FDR asked congress to allow him to increase number of justices from 9 to 15  Not allowed – separation of powers
  • 19. Political Opposition  Business  Claimed FDR and government had too much power  Communists, Socialists gain support
  • 20. New Deal Evaluation  Does not end Great Depression  WWII does  Did help some people  Gave more power to president and government  More involvement in business and social life