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The Great Depression

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Transcript

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