The Great Depression

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The Great Depression

  1. 1. Bell Work <ul><li>Founder of the back to Africa movement </li></ul><ul><li>Marcus Garvey </li></ul>
  2. 2. The Great Depression Objective: Cover the events that leads to the Great Depression
  3. 3. The Crash of 1929 <ul><li>Prior to 1929 stock prices kept going up driven by speculation in Real Estate </li></ul><ul><li>People and Banks heavily invest in stock market to make money </li></ul><ul><li>October 29 1929 (Black Tuesday) the market fails and stocks begin to fall </li></ul><ul><li>This creates panic and the market crashes </li></ul>
  4. 4. Causes of The Great Depression <ul><li>Nation’s wealth not shared by everyone </li></ul><ul><li>Farmers grew more crops then people could buy </li></ul><ul><li>Overproduction by factories </li></ul><ul><li>Congress placed high tariffs on European goods </li></ul><ul><li>Banking system had many problems </li></ul><ul><li>Government did not pass laws to correct problems (Laissez-faire) </li></ul>
  5. 5. Welcome to Hooverville <ul><li>By 1933, 13 million unemployed </li></ul><ul><li>1 million live in Hoovervilles made of junk or scrap wood around the country </li></ul><ul><li>People search for food in the garbage </li></ul><ul><li>1931 seven year drought destroys mid-west farms the soil simply dries up and blows away </li></ul>
  6. 6. Okies <ul><li>The mid-west becomes known as the Dust Bowl </li></ul><ul><li>Thousands of farmers sell their farms and move to California </li></ul><ul><li>In California they become migrant farm workers </li></ul><ul><li>They stream into California with hunger in their eyes </li></ul><ul><li>For every job ten men applied for it and they try to under cut each other by working for less </li></ul>
  7. 7. Farmers in the Dust Bowl
  8. 8. The New Deal <ul><li>By 1932 Most Americans want a new President </li></ul><ul><li>Franklin D. Roosevelt (FDR) wins </li></ul><ul><li>Promises to end depression </li></ul><ul><li>Uses an informal group of advisers to solve Depression called the Brain Trust </li></ul><ul><li>Roosevelt closes banks for two days </li></ul><ul><li>Spend first 100 days working with Congress to pass many new programs </li></ul>
  9. 9. The New Deal <ul><li>Roosevelt uses Fireside Chats to reassure Americans and to encourage them to keep their money in the banks </li></ul><ul><li>Three main goals: Relief, Recovery, Reform </li></ul><ul><li>Created many new agencies </li></ul><ul><li>CCC, FDIC, TVA, PWA, SEC, WPA, SSB </li></ul>
  10. 10. New Deal Programs <ul><li>WPA (Works Progress Administration) built schools, libraries, and cultural projects </li></ul><ul><li>SSB (Social Security Board) gave a pension plan to people over age 65 </li></ul><ul><li>TVA (Tennessee Valley Authority) Set up hydro- electric projects on the Tennessee River </li></ul><ul><li>CCC (Civilian Conservation Corps) gave jobs to unemployed youth of America </li></ul>
  11. 11. Results of New Deal <ul><li>Higher Taxes </li></ul><ul><li>Higher national debt </li></ul><ul><li>Helped Americans find relief from poverty </li></ul><ul><li>Built dams, roads, bridges, airports </li></ul><ul><li>Protected democracy </li></ul>

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